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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>Pret 2021-Rn4 LLC</name>
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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>Variable</couponKind>
          <annualizedRt>3</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>QTS ISSUER ABS I, LLLC</name>
        <lei>N/A</lei>
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          <isin value="US74690DAA90"/>
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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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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>QTS ISSUER ABS I, LLLC</name>
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        <title>QTS 2025-1A B</title>
        <cusip>74690DAB7</cusip>
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          <isin value="US74690DAB73"/>
          <ticker value="QTS"/>
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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>2055-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.928</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>QTS ISSUER ABS II, LLC</name>
        <lei>N/A</lei>
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        <cusip>74690FAA4</cusip>
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          <isin value="US74690FAA49"/>
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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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        <securityLending>
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      <invstOrSec>
        <name>QTS ISSUER ABS II, LLC</name>
        <lei>N/A</lei>
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          <isin value="US74690FBE51"/>
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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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        <securityLending>
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      <invstOrSec>
        <name>Qnity Electronics</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics Term Loan B 200 2032-08-03</title>
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          <isin value="US74737SAB97"/>
          <ticker value="QNTELE"/>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Quikrete</name>
        <lei>5493007KIN86DIZWZT22</lei>
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          <isin value="US74839XAL38"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-10</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>RCKT MORTGAGE TRUST 2026-CES2</name>
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          <isin value="US74940EAA55"/>
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          <other otherDesc="SEDOL" value="BW2JL83"/>
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        <issuerCat>CORP</issuerCat>
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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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      <invstOrSec>
        <name>RCKT MORTGAGE TRUST 2026-CES2</name>
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          <isin value="US74940EAB39"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>BAMLL RE-REMIC TRUST 2024-FRR2</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Banc Of America Alternative Loan Trust</name>
        <lei>N/A</lei>
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          <ticker value="BOAA"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX COMMERCIAL MORTGAGE TRUST 2025-B</name>
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      <invstOrSec>
        <name>OCEANVIEW MORTGAGE TRUST</name>
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          <isin value="US07336GAK04"/>
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        <name>BAYVIEW MSR OPPORTUNITY MASTER FUND</name>
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        <name>BAYVIEW MSR OPPORTUNITY MASTER FUND</name>
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      <invstOrSec>
        <name>BAYVIEW OPPORTUNITY MASTER FUND VII 2025-EDU1, LLC</name>
        <lei>2549001VJ64UFK8PZA41</lei>
        <title>BVCLN 2025-EDU1 B</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>BREAN ASSET BACKED SECS TR 24-RM8</name>
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          <isin value="US10637YAA38"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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          <isin value="US14040HDJ14"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-30</maturityDt>
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      <invstOrSec>
        <name>Carvana Co</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CONE 2024-DWF1</name>
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          <isin value="US20682AAA88"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CONE 2024-DWF1</name>
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        <cusip>20682AAG5</cusip>
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          <isin value="US20682AAG58"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>A&amp;D MORTGAGE TRUST 2023-NQM2</name>
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        <title>ADMT 2024-NQM5 A1</title>
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          <ticker value="ADMT"/>
          <other otherDesc="Internal ID" value="00039KAC4"/>
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        <curCd>USD</curCd>
        <valUSD>2005948.51</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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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>AESOP 2026-1A A</title>
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          <ticker value="AESOP"/>
          <other otherDesc="Internal ID" value="05377RLL6"/>
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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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      <invstOrSec>
        <name>BLP TRUST 2025-IND2</name>
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        <title>BLP 2025-IND2 A</title>
        <cusip>05556WAA4</cusip>
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          <ticker value="BLP"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>OASIS SECURITISATION 21-2A</name>
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          <isin value="US53161AAA97"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>OASIS SECURITISATION 24-1A</name>
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        <name>BPR TST</name>
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        <name>BLP Commercial Mortgage Trust 2025-IND</name>
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        <title>BLP 2025-IND A</title>
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          <isin value="US05625BAA70"/>
          <ticker value="BLP"/>
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      <invstOrSec>
        <name>LIFE FINANCIAL SERVICES TRUST</name>
        <lei>N/A</lei>
        <title>LIFE 2022-BMR2 A1</title>
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          <isin value="US53218DAA63"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T EQUIPTMENT 2023-LEAF1 LLC</name>
        <lei>N/A</lei>
        <title>MTLRF 2023-1A A3</title>
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          <isin value="US551925AB68"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.74</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>Booz Allen Hamilton 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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      <invstOrSec>
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        <name>Compass Datacenters Issuer II LLC</name>
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        <name>Compass Datacenters Issuer II LLC</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 National Mortgage Association</name>
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        <name>Mello Mortgage Capital Acceptance 2018-Mtg1</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>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB2907</title>
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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>Millrose Properties Inc.</name>
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          <isin value="US601137AB81"/>
          <ticker value="MRP"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB7112</title>
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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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        <name>Connecticut Avenue Securities Trust 2022-R04</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2022-R04 1M2</title>
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          <ticker value="CAS"/>
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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>Connecticut Avenue Securities Trust 2025-R03</name>
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        <title>CAS 2025-R02 1M1</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <title>MS V5.424 07/21/34 MTN</title>
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        <name>Morgan Stanley</name>
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        <name>Morgan Stanley</name>
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        <name>Morgan Stanley Private Bank National Association</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2025-R03 2M1</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2025-R04 1M1</title>
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        <name>CSTL COMMERCIAL MORTGAGE TRUST 2026-GATE3</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.6945</annualizedRt>
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        <name>CYRUSONE DATA CENTERS ISSUER I 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 Home Loan Mortgage Corp.</name>
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        <name>Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.</name>
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        <name>ONSLOW BAY FINANCIAL</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 National Mortgage Association</name>
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        <name>Federal Home Loan Banks</name>
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        <name>PLYM COMMERCIAL MORTGAGE TRUST 2026-IND</name>
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        <valUSD>2983957.61</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC Financial Services Group Inc.</name>
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          <isin value="US693475BU84"/>
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        <curCd>USD</curCd>
        <valUSD>6215436.02</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
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          <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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      <invstOrSec>
        <name>Fnma Pass-Thru I</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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          <annualizedRt>2.5</annualizedRt>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QG3742</title>
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          <isin value="US3133C4EP59"/>
          <ticker value="FHLMC"/>
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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>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</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 BV4203</title>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>375999.91</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV5379</title>
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          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140MJ6R1"/>
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        <balance>1886635.8032203</balance>
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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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV5380</title>
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          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140MJ6S9"/>
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        <curCd>USD</curCd>
        <valUSD>1446628.55</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DT Midstream Inc</name>
        <lei>N/A</lei>
        <title>DTMINC 4.125 06/15/29 144A</title>
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          <isin value="US23345MAA53"/>
          <ticker value="DTMINC"/>
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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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      <invstOrSec>
        <name>DT Midstream Inc</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RCKT Mortgage Trust 2025-CES10</name>
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        <title>RCKT 2025-CES10 A1A</title>
        <cusip>74939LAA2</cusip>
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          <ticker value="RCKT"/>
          <other otherDesc="Internal ID" value="74939LAA2"/>
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        <curCd>USD</curCd>
        <valUSD>1974201.45</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>RCKT Mortgage Trust 2025-CES8</name>
        <lei>254900FCN7EI8DTYGA19</lei>
        <title>RCKT 2025-CES8 A1A</title>
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          <ticker value="RCKT"/>
          <other otherDesc="Internal ID" value="74939WAA8"/>
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        <curCd>USD</curCd>
        <valUSD>3560987.81</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FM3664</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>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FM5076</title>
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          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140X8UA3"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV5393</title>
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          <ticker value="FNMA"/>
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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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          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564NHZ9"/>
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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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DT Midstream Inc</name>
        <lei>N/A</lei>
        <title>DTMINC 4.3 04/15/32 144A</title>
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          <ticker value="DTMINC"/>
          <other otherDesc="Internal ID" value="23345MAC1"/>
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        <balance>2510000</balance>
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        <curCd>USD</curCd>
        <valUSD>2394560.48</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Dominos Pizza 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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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Rckt Mortgage Trust 2024-Ces9</name>
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        <name>Rckt Mortgage Trust 2025-Ces2</name>
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        <name>BX Trust 2025-Roic</name>
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        <name>Rckt Mortgage Trust 2025-CES9</name>
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        <name>Rckt Mortgage Trust 2025-CES7</name>
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        <name>PRPM 2024-RCF2 LLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>SCG Commercial Mortgage Trust 2025-DLFN</name>
        <lei>N/A</lei>
        <title>SCG 2025-DLFN A</title>
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          <isin value="US78398EAA38"/>
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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 Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZK8962</title>
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          <ticker value="FHLMC"/>
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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>
          <annualizedRt>3</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZK9163</title>
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          <isin value="US3131XDFC45"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>99035.57</valUSD>
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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>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR ZM7182</title>
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          <isin value="US3131Y16T23"/>
          <ticker value="FHLMC"/>
          <other otherDesc="SEDOL" value="BK4PCV5"/>
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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>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZM7926</title>
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          <isin value="US3131Y2YX06"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>111589.05</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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        <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 FS0662</title>
        <cusip>3140XFWY3</cusip>
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          <isin value="US3140XFWY37"/>
          <ticker value="FNMA"/>
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        <balance>7086819.4500496</balance>
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        <curCd>USD</curCd>
        <valUSD>6069533.4</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>2052-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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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 FS1081</title>
        <cusip>3140XGFX2</cusip>
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          <isin value="US3140XGFX20"/>
          <ticker value="FNMA"/>
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        <balance>8126975.5476736</balance>
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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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          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SF ABS ISSUER LLC</name>
        <lei>N/A</lei>
        <title>SFARM 2025-1A A2</title>
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          <isin value="US784193AA20"/>
          <ticker value="SFARM"/>
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        <balance>9179000</balance>
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        <curCd>USD</curCd>
        <valUSD>8847465.19</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEB FUNDING LLC</name>
        <lei>N/A</lei>
        <title>SEB4P 2026-1A A2</title>
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          <isin value="US78433DAD66"/>
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        <balance>3726000</balance>
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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 FS1301</title>
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          <isin value="US3140XGNT26"/>
          <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 FS2144</title>
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          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS2546</title>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS2713</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS3377</title>
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          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS3713</title>
        <cusip>3140XKDT4</cusip>
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          <ticker value="FNMA"/>
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        <balance>1813631.4884714</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TVC MORTGAGE TRUST 2026-RRTL1</name>
        <lei>N/A</lei>
        <title>TVC 2026-RRTL1 A1</title>
        <cusip>87306XAA3</cusip>
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          <isin value="US87306XAA37"/>
          <ticker value="TVC"/>
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        <balance>2273000</balance>
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        <curCd>USD</curCd>
        <valUSD>2264546.49</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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          <maturityDt>2041-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.964</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>Xcel Energy Inc</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>XEL 5.6 04/15/35</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 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>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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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <name>Freddie Mac Stacr Remic Trust 2020-Hqa2</name>
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        <isRestrictedSec>N</isRestrictedSec>

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

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        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR QC5848</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government 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>SALUDA GRADE ALTERNATIVE MORTGAGE T</name>
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        <name>SALUDA GRADE ALTERNATIVE MTG TR 202</name>
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        <name>SALUDA GRADE ALTERNATIVE MTG TR 202</name>
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      <invstOrSec>
        <name>Self Commercial Mortgage Trust 2024-STRG</name>
        <lei>N/A</lei>
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          <isin value="US81631WAA45"/>
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      <invstOrSec>
        <name>Solventum Corp.</name>
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      <invstOrSec>
        <name>Solventum Corp.</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Standard Building Solutions Inc.</name>
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        <name>Air Transport</name>
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        <name>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>UPG HI ISSUER TRUST 2025-2</name>
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        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QD8288</title>
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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>BX Trust 2018-Bilt</name>
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        <name>BX Trust 2018-Bilt</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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          <ticker value="FHLMC"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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          <ticker value="FHLMC"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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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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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KRE COMMERCIAL MORTGAGE TRUST 2025-</name>
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        <title>KRE 2025-AIP4 A</title>
        <cusip>50077KAA6</cusip>
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          <isin value="US50077KAA60"/>
          <ticker value="KRE"/>
          <other otherDesc="Internal ID" value="50077KAA6"/>
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        <balance>5221287.5</balance>
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        <curCd>USD</curCd>
        <valUSD>5193376.42</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Xcel Energy Inc</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>XEL V5.75 12/03/56</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-12-03</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Bain Capital Credit CLO 2024-1 Ltd/ LLC</name>
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        <title>BCC 2023-3A A1R</title>
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          <ticker value="BCC"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>N/A</name>
        <lei>N/A</lei>
        <title>US T-NOTE 10YR</title>
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          <ticker value="TYM6"/>
          <other otherDesc="FIGI" value="BBG01XB0H674"/>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>OCINCC 4.7 02/08/27 *</title>
        <cusip>69120VAF8</cusip>
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        <name>Blue Owl Credit Income Corp.</name>
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      <invstOrSec>
        <name>Bx Commercial Mortgage Trust 2018-Bioa</name>
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        <title>BX 2025-DIME A</title>
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          <isin value="US05613UAA97"/>
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      <invstOrSec>
        <name>BX COML MTG TR 2024-VLT5</name>
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          <ticker value="BX"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Huntington National Bank of Ohio</name>
        <lei>2WHM8VNJH63UN14OL754</lei>
        <title>HACLN 2024-2 B1</title>
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          <ticker value="HBAN"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WOODWARD CAPITAL MANAGEMENT</name>
        <lei>N/A</lei>
        <title>RCKT 2024-CES5 A1A</title>
        <cusip>74938KAA5</cusip>
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          <isin value="US74938KAA51"/>
          <ticker value="RCKT"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PNW TRUST 2026-ARTE</name>
        <lei>N/A</lei>
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          <isin value="US73020TAA79"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>2023-MIC TRUST/THE</name>
        <lei>N/A</lei>
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          <isin value="US87256GAA04"/>
          <ticker value="THE"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Benefit Street Partners CLO IV Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>CBAMR 2018-8 LTD/ CBAMR 2018-8 LLC</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
        <title>BX 2025-VLT7 A</title>
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          <isin value="US123913AA38"/>
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        <curCd>USD</curCd>
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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>
        <name>BX COML MTG TR 2024-AIRC</name>
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        <cusip>12433CAA3</cusip>
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          <isin value="US12433CAA36"/>
          <ticker value="BX"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.36375</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <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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        <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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL5942</title>
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          <isin value="US3138ENS833"/>
          <ticker value="FNMA"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BX COML MTG TR 2024-AIRC</name>
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        <cusip>12433CAE5</cusip>
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          <isin value="US12433CAE57"/>
          <ticker value="BX"/>
          <other otherDesc="Internal ID" value="12433CAE5"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.26246</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
        <title>BX 2025-GW A</title>
        <cusip>12433GAA4</cusip>
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          <isin value="US12433GAA40"/>
          <ticker value="BX"/>
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        <balance>2678000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.273</annualizedRt>
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      <invstOrSec>
        <name>Texas Commercial Mortgage Trust 2025-Twr</name>
        <lei>N/A</lei>
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          <isin value="US88231WAA36"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>280 Park Avenue Trust</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL6542</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL6842</title>
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      <invstOrSec>
        <name>BX Trust 2018-Bilt</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CF HIPPOLYTA ISSUER LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Government National Mortgage Association</name>
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        <name>GLP Capital L.P. and GLP Financing II, 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>Finance Of America Structured Securities Tr 2017-HB1</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Flagstar Mtg Tr 2017-1</name>
        <lei>N/A</lei>
        <title>FSMT 2021-13IN A2</title>
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          <isin value="US33853HAB78"/>
          <ticker value="FSMT"/>
          <other otherDesc="Internal ID" value="33853HAB7"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V5.592 11/19/34</title>
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          <isin value="US172967PN53"/>
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          <other otherDesc="Internal ID" value="172967PN5"/>
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        <balance>6394000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.592</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V4.503 09/11/31</title>
        <cusip>172967QF1</cusip>
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          <isin value="US172967QF11"/>
          <ticker value="C"/>
          <other otherDesc="SEDOL" value="BTWQKN1"/>
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        <balance>20264000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZT1257</title>
        <cusip>3132ADME5</cusip>
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          <isin value="US3132ADME57"/>
          <ticker value="FHLMC"/>
          <other otherDesc="SEDOL" value="BK4PDZ6"/>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR ZT1320</title>
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          <couponKind>Fixed</couponKind>
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        <name>Figre Trust 2023-HE1</name>
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        <name>Foundation Finance Trust 2024-1</name>
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        <name>FOUNDATION FINANCE TRUST 2025-3</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V5.174 09/11/36</title>
        <cusip>172967QH7</cusip>
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          <ticker value="C"/>
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        <valUSD>4421163.3</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-11</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V6.625 PERP</title>
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        <curCd>USD</curCd>
        <valUSD>3505628.06</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GLP Capital L.P. and GLP Financing II, Inc.</name>
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          <isin value="US361841AX75"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS MORTGAGE-BACKED SECURITIES TRUST 2025-CES2</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-09-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Carnival Corporation</name>
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          <ticker value="CCL"/>
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        <curCd>USD</curCd>
        <valUSD>9489912.88</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Madison Park Funding Xxxiv Ltd.</name>
        <lei>N/A</lei>
        <title>MDPK 2022-62A A1R2</title>
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          <isin value="US55817HAW97"/>
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        <balance>6529000</balance>
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        <curCd>USD</curCd>
        <valUSD>6530632.25</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.97113</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMorgan Chase Bank, National Association</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>CHASE 2021-CL1 M1</title>
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          <isin value="US46591HBX70"/>
          <ticker value="JPM"/>
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        <curCd>USD</curCd>
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        <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>
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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 4 03/15/29 144A</title>
        <cusip>50212YAD6</cusip>
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          <isin value="US50212YAD67"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAD6"/>
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        <curCd>USD</curCd>
        <valUSD>1053622.14</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 6 05/20/34</title>
        <cusip>50212YAK0</cusip>
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          <isin value="US50212YAK01"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAK0"/>
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        <balance>4178000</balance>
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        <curCd>USD</curCd>
        <valUSD>4261358.41</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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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>
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          <isin value="US50212YAM66"/>
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          <other otherDesc="Internal ID" value="50212YAM6"/>
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        <balance>6372000</balance>
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        <curCd>USD</curCd>
        <valUSD>6317417.64</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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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>
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          <isin value="US50212YAP97"/>
          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAP9"/>
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        <balance>3730000</balance>
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        <curCd>USD</curCd>
        <valUSD>3746228.52</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Life Time Fitness</name>
        <lei>549300PALKE96VYH4X17</lei>
        <title>Life Time Fitness Term Loan B 200 2031-11-01</title>
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          <ticker value="LTH"/>
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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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      <invstOrSec>
        <name>Figre Trust 2023-HE1</name>
        <lei>N/A</lei>
        <title>FIGRE 2025-HE5 A</title>
        <cusip>31684MAA7</cusip>
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          <isin value="US31684MAA71"/>
          <ticker value="FIGRE"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FIGRE TRUST 2025-HE6</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM 8.75 07/01/31 144A</title>
        <cusip>17888HAB9</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM 8.625 11/01/30 144A</title>
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      <invstOrSec>
        <name>Figre Trust 2023-HE1</name>
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        <title>FIGRE 2025-HE4 A</title>
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          <ticker value="FIGRE"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>FIGRE TR 2025-HE1</name>
        <lei>N/A</lei>
        <title>FIGRE 2025-FL1 A1</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.265</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>Madison Park Funding LV Ltd / Madison Park Funding LV LLC</name>
        <lei>N/A</lei>
        <title>MDPK 2022-55A A1R</title>
        <cusip>55819FAQ4</cusip>
        <identifiers>
          <isin value="US55819FAQ46"/>
          <ticker value="MDPK"/>
          <other otherDesc="Internal ID" value="US55819FAQ46"/>
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        <balance>9324578</balance>
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        <curCd>USD</curCd>
        <valUSD>9328209.92</valUSD>
        <pctVal>0.3421610390</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.02763</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Madison Park Funding Xxxiv Ltd.</name>
        <lei>N/A</lei>
        <title>MDPK 2019-34A A2RR</title>
        <cusip>55819GAY5</cusip>
        <identifiers>
          <isin value="US55819GAY52"/>
          <ticker value="MDPK"/>
          <other otherDesc="Internal ID" value="US55819GAY52"/>
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        <balance>3126000</balance>
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        <curCd>USD</curCd>
        <valUSD>3119753.94</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.27113</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>LMDV Issuer Co LLC</name>
        <lei>254900A6HRP8XHJJGM20</lei>
        <title>LMDV 2025-1A A2</title>
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        <identifiers>
          <isin value="US538908AA26"/>
          <ticker value="LMDV"/>
          <other otherDesc="Internal ID" value="538908AA2"/>
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        <balance>2057000</balance>
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        <curCd>USD</curCd>
        <valUSD>2054491.58</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>2055-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.31</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>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG 5.75 01/15/34 144A</title>
        <cusip>629377DC3</cusip>
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          <isin value="US629377DC38"/>
          <ticker value="NRG"/>
          <other otherDesc="Internal ID" value="629377DC3"/>
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        <balance>3075000</balance>
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        <curCd>USD</curCd>
        <valUSD>3033255.03</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Madison Park Funding Xxxiv Ltd.</name>
        <lei>N/A</lei>
        <title>MDPK 2025-73A A1</title>
        <cusip>55823HAA9</cusip>
        <identifiers>
          <isin value="US55823HAA95"/>
          <ticker value="MDPK"/>
          <other otherDesc="Internal ID" value="US55823HAA95"/>
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        <balance>7208000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7209127.33</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.26303</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MAGNETITE 50 LIMITED</name>
        <lei>529900LA8YF5OY74OD31</lei>
        <title>MAGNE 2025-50A A1</title>
        <cusip>55956MAA7</cusip>
        <identifiers>
          <isin value="US55956MAA71"/>
          <ticker value="MAGNE"/>
          <other otherDesc="Internal ID" value="US55956MAA71"/>
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        <balance>5107000</balance>
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        <curCd>USD</curCd>
        <valUSD>5106993.87</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.94802</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>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM 9.625 06/15/33 144A</title>
        <cusip>17888HAD5</cusip>
        <identifiers>
          <isin value="US17888HAD52"/>
          <ticker value="SM"/>
          <other otherDesc="Internal ID" value="17888HAD5"/>
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        <balance>6892000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7613737.13</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>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.625</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>Cifc Funding 2019-VII Ltd. / Cifc Funding 2019-VII LLC</name>
        <lei>N/A</lei>
        <title>CIFC 2019-7A A1R</title>
        <cusip>171935AA7</cusip>
        <identifiers>
          <isin value="US171935AA72"/>
          <ticker value="CIFC"/>
          <other otherDesc="Internal ID" value="US171935AA72"/>
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        <balance>6294000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6294000</valUSD>
        <pctVal>0.2308654713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.94763</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>FIGRE TRUST 2025-PF2</name>
        <lei>N/A</lei>
        <title>FIGRE 2025-PF2 A</title>
        <cusip>316918AA9</cusip>
        <identifiers>
          <isin value="US316918AA90"/>
          <ticker value="FIGRE"/>
          <other otherDesc="Internal ID" value="316918AA9"/>
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        <balance>5430027.44336</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5382138.95</valUSD>
        <pctVal>0.1974181832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.017</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Student/First Transit</name>
        <lei>2549006DRO2F06AA1391</lei>
        <title>First Student/First Transit Term Loan B 250 2030-08-01</title>
        <cusip>33718FAN0</cusip>
        <identifiers>
          <isin value="US33718FAN06"/>
          <ticker value="FRSTST"/>
          <other otherDesc="Internal ID" value="33718FAN0"/>
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        <balance>10511880.6</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10472461.05</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.90253</annualizedRt>
          <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>First Student Bidco Inc.</name>
        <lei>2549006DRO2F06AA1391</lei>
        <title>FRSTST L 08/15/30 16</title>
        <cusip>33718FAR1</cusip>
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          <ticker value="FRSTST"/>
          <other otherDesc="Internal ID" value="33718FAR1"/>
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        <balance>1923412.4</balance>
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        <curCd>USD</curCd>
        <valUSD>1916199.6</valUSD>
        <pctVal>0.0702866736</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.94961</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>LPL Holdings Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPLA 5.75 06/15/35</title>
        <cusip>50212YAQ7</cusip>
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          <ticker value="LPLA"/>
          <other otherDesc="Internal ID" value="50212YAQ7"/>
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        <balance>3771000</balance>
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        <curCd>USD</curCd>
        <valUSD>3756076.91</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZT1145</title>
        <cusip>3132ADHW1</cusip>
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          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132ADHW1"/>
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        <balance>715421.7603711</balance>
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        <curCd>USD</curCd>
        <valUSD>710274.73</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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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZT1173</title>
        <cusip>3132ADJS8</cusip>
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          <isin value="US3132ADJS80"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132ADJS8"/>
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        <curCd>USD</curCd>
        <valUSD>2156483.32</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG 6 01/15/36 144A</title>
        <cusip>629377DD1</cusip>
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          <isin value="US629377DD11"/>
          <ticker value="NRG"/>
          <other otherDesc="Internal ID" value="629377DD1"/>
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        <balance>5759000</balance>
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        <curCd>USD</curCd>
        <valUSD>5706633.99</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <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>NRZ Fht Excess LLC</name>
        <lei>N/A</lei>
        <title>NZES 2021-FHT1 A</title>
        <cusip>62955MAB2</cusip>
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          <isin value="US62955MAB28"/>
          <ticker value="NZES"/>
          <other otherDesc="Internal ID" value="62955MAB2"/>
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        <balance>1397976.3101382</balance>
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        <curCd>USD</curCd>
        <valUSD>1384951.09</valUSD>
        <pctVal>0.0508003473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.104</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>New Residential Mortgage Loan Trust 2018-2</name>
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        <name>OAK STREET INVESTMENT</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>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Genesee &amp; Wyoming</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>Goldman Sachs Group, 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>JPMorgan Chase &amp; Co.</name>
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        <name>Janus Detroit Street Trust</name>
        <lei>5493003MM7OCK5UJW595</lei>
        <title>Janus Detroit Street Trust HENDERSON EMERGING MARKETS DEBT HARD CURRENCY ETF</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Oha Credit Partners Xv Limited</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Coopr Residential Mortgage Trust 2025 CES4</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Cpts 2019-Cpt Mtg Trust</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KB Home</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>LEX TRUST 2026-450</name>
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      <invstOrSec>
        <name>LHOME MTG TR 2024-RTL3</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>LHOME MORTGAGE TRUST 2024-RTL2</name>
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        <name>CVS Health Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COOPR RESIDENTIAL MORTGAGE TRUST 2026-CES1</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>COOPR 2025-CES3 A1A</title>
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        <name>CP EF ASSET SECURITIZATION II LLC</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>FR QG1442</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL6997</title>
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        <name>Oracle Corp.</name>
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        <title>ORCL 5.2 09/26/35</title>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS 5.25 02/21/33</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN AL7381</title>
        <cusip>3138EQFX5</cusip>
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          <isin value="US3138EQFX58"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BF0HNT5"/>
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        <balance>901420.94574099</balance>
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        <curCd>USD</curCd>
        <valUSD>894935.77</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</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>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BF0130</title>
        <cusip>3140FXEC2</cusip>
        <identifiers>
          <isin value="US3140FXEC27"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BF0TZF1"/>
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        <balance>13901812.39188</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12753528.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</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>Crowdstrike Holdings Inc</name>
        <lei>549300YBY08K9KM4HX32</lei>
        <title>CRWD 3 02/15/29</title>
        <cusip>22788CAA3</cusip>
        <identifiers>
          <isin value="US22788CAA36"/>
          <ticker value="CRWD"/>
          <other otherDesc="Internal ID" value="22788CAA3"/>
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        <balance>1868000</balance>
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        <curCd>USD</curCd>
        <valUSD>1776891.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</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>Efmt 2025-RTL1</name>
        <lei>254900NFBGFOBK1G2B84</lei>
        <title>EFMT 2025-RTL1 A1</title>
        <cusip>26846FAA7</cusip>
        <identifiers>
          <isin value="US26846FAA75"/>
          <ticker value="EFMT"/>
          <other otherDesc="Internal ID" value="26846FAA7"/>
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        <balance>1817000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1814064.64</valUSD>
        <pctVal>0.0665403381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.221</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>Copeland (Emerson Electrics climate control business)</name>
        <lei>N/A</lei>
        <title>Copeland (Emerson Electrics climate control business) Term Loan B (Incremental) 250 2031-06-11</title>
        <cusip>26872NAD1</cusip>
        <identifiers>
          <isin value="US26872NAD12"/>
          <ticker value="EMECLI"/>
          <other otherDesc="Internal ID" value="26872NAD1"/>
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        <balance>13510654.49</balance>
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        <curCd>USD</curCd>
        <valUSD>13476877.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.94961</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eaton Corp.</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>ETN 4.2 03/06/31</title>
        <cusip>278058DX7</cusip>
        <identifiers>
          <isin value="US278058DX76"/>
          <ticker value="ETN"/>
          <other otherDesc="Internal ID" value="278058DX7"/>
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        <balance>1827000</balance>
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        <curCd>USD</curCd>
        <valUSD>1800566.14</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>2031-03-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.2</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>Equinix Europe 2 Financing Corp LLC</name>
        <lei>254900FSZR46BPMCKI50</lei>
        <title>EQIX 4.7 03/15/33</title>
        <cusip>29390XAH7</cusip>
        <identifiers>
          <isin value="US29390XAH70"/>
          <ticker value="EQIX"/>
          <other otherDesc="Internal ID" value="29390XAH7"/>
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        <balance>8022000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7802299</valUSD>
        <pctVal>0.2861902503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Figre Trust 2023-HE1</name>
        <lei>N/A</lei>
        <title>FIGRE 2024-HE4 A</title>
        <cusip>31684UAA9</cusip>
        <identifiers>
          <isin value="US31684UAA97"/>
          <ticker value="FIGRE"/>
          <other otherDesc="Internal ID" value="31684UAA9"/>
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        <balance>2442013.59853</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2439456.91</valUSD>
        <pctVal>0.0894798807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.056</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>FIGRE TRUST 2024-HE2</name>
        <lei>N/A</lei>
        <title>FIGRE 2024-HE2 A</title>
        <cusip>316927AA0</cusip>
        <identifiers>
          <isin value="US316927AA08"/>
          <ticker value="FIGRE"/>
          <other otherDesc="Internal ID" value="316927AA0"/>
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        <balance>1663523.1658961</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1696448.2</valUSD>
        <pctVal>0.0622261381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.38</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>Elmwood Clo VII Ltd.</name>
        <lei>N/A</lei>
        <title>ELM10 2021-3A AR2</title>
        <cusip>29002VAW8</cusip>
        <identifiers>
          <isin value="US29002VAW81"/>
          <ticker value="ELM10"/>
          <other otherDesc="Internal ID" value="US29002VAW81"/>
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        <balance>6001000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6003807.27</valUSD>
        <pctVal>0.2202211304</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>4.96763</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>5798485</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5815854.36</valUSD>
        <pctVal>0.2133269713</pctVal>
        <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>
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      </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>1685000</balance>
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        <curCd>USD</curCd>
        <valUSD>1689846.23</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Equinix Asia Financing Corporation Pte Ltd.</name>
        <lei>2549002E9B0F5FQ3X427</lei>
        <title>EQIX 4.4 03/15/31</title>
        <cusip>29447KAA3</cusip>
        <identifiers>
          <isin value="US29447KAA34"/>
          <ticker value="EQIX"/>
          <other otherDesc="Internal ID" value="US29447KAA34"/>
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        <balance>3908000</balance>
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        <curCd>USD</curCd>
        <valUSD>3825522.87</valUSD>
        <pctVal>0.1403211217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LHOME MORTGAGE TRUST 2026-RTL1</name>
        <lei>N/A</lei>
        <title>LHOME 2026-RTL1 A1</title>
        <cusip>50206JAA3</cusip>
        <identifiers>
          <isin value="US50206JAA34"/>
          <ticker value="LHOME"/>
          <other otherDesc="Internal ID" value="50206JAA3"/>
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        <balance>1098000</balance>
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        <curCd>USD</curCd>
        <valUSD>1094521.98</valUSD>
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        <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>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
        <title>LVLT 7 03/31/34 144A</title>
        <cusip>527298CN1</cusip>
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          <isin value="US527298CN12"/>
          <ticker value="LVLT"/>
          <other otherDesc="Internal ID" value="527298CN1"/>
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        <balance>4939007</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5055497.88</valUSD>
        <pctVal>0.1854369082</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TYSN 2023 CRNR MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>TYSN 2023-CRNR A</title>
        <cusip>87332PAA8</cusip>
        <identifiers>
          <isin value="US87332PAA84"/>
          <ticker value="TYSN"/>
          <other otherDesc="Internal ID" value="87332PAA8"/>
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        <balance>6674443</balance>
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        <curCd>USD</curCd>
        <valUSD>6941803.86</valUSD>
        <pctVal>0.2546270765</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.579745</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>Taco Bell Funding Llc</name>
        <lei>N/A</lei>
        <title>BELL 2018-1A A2II</title>
        <cusip>87342RAE4</cusip>
        <identifiers>
          <isin value="US87342RAE45"/>
          <ticker value="BELL"/>
          <other otherDesc="SEDOL" value="BG5QS44"/>
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        <balance>2520315</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2509293.12</valUSD>
        <pctVal>0.0920414901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Taco Bell Funding Llc</name>
        <lei>N/A</lei>
        <title>BELL 2021-1A A2II</title>
        <cusip>87342RAH7</cusip>
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          <isin value="US87342RAH75"/>
          <ticker value="BELL"/>
          <other otherDesc="Internal ID" value="87342RAH7"/>
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        <balance>1466872.5</balance>
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        <curCd>USD</curCd>
        <valUSD>1356601.93</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.294</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Teva Pharmaceutical Finance Company LLC</name>
        <lei>5493006PITD7MU7WW480</lei>
        <title>TEVA 6.15 02/01/36</title>
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          <isin value="US88163VAD10"/>
          <ticker value="TEVA"/>
          <other otherDesc="Internal ID" value="88163VAD1"/>
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        <curCd>USD</curCd>
        <valUSD>6947407.3</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>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>TKO Group Holdings (UFC)</name>
        <lei>549300JEOTH7UMZ3C491</lei>
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        <cusip>90266UAL7</cusip>
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          <isin value="US90266UAL70"/>
          <ticker value="ZUFFAL"/>
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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>
        <debtSec>
          <maturityDt>2031-11-21</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Wholesale Mortgage LLC</name>
        <lei>549300HW662MN1WU8550</lei>
        <title>UWM 2021-INV1 A9</title>
        <cusip>90354XAJ9</cusip>
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          <isin value="US90354XAJ90"/>
          <ticker value="UWMLLC"/>
          <other otherDesc="Internal ID" value="90354XAJ9"/>
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        <balance>4337653.3231296</balance>
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        <curCd>USD</curCd>
        <valUSD>4048114.53</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.56721</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>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORCL 6.1 09/26/65</title>
        <cusip>68389XDT9</cusip>
        <identifiers>
          <isin value="US68389XDT90"/>
          <ticker value="ORCL"/>
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        <balance>5745000</balance>
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        <curCd>USD</curCd>
        <valUSD>4763647.89</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.1</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORCL 5.35 05/04/33</title>
        <cusip>68389XDY8</cusip>
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          <isin value="US68389XDY85"/>
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        <valUSD>3180355.47</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS 5.7 06/01/34</title>
        <cusip>126650ED8</cusip>
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          <isin value="US126650ED80"/>
          <ticker value="CVS"/>
          <other otherDesc="Internal ID" value="126650ED8"/>
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        <balance>3275000</balance>
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        <curCd>USD</curCd>
        <valUSD>3365696.9</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>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.7</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS 5.45 09/15/35</title>
        <cusip>126650EK2</cusip>
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          <isin value="US126650EK24"/>
          <ticker value="CVS"/>
          <other otherDesc="Internal ID" value="126650EK2"/>
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        <balance>3938000</balance>
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        <curCd>USD</curCd>
        <valUSD>3953312.79</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>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BF0189</title>
        <cusip>3140FXF72</cusip>
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          <isin value="US3140FXF725"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BJVR864"/>
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        <balance>30387.9693294</balance>
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        <curCd>USD</curCd>
        <valUSD>26295.12</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>2057-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <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>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>8090428.5567084</balance>
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        <curCd>USD</curCd>
        <valUSD>7015632.52</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORCL 6.85 02/04/66</title>
        <cusip>68389XEC5</cusip>
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          <isin value="US68389XEC56"/>
          <ticker value="ORCL"/>
          <other otherDesc="Internal ID" value="68389XEC5"/>
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        <balance>2397000</balance>
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        <curCd>USD</curCd>
        <valUSD>2203614.83</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>2066-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.85</annualizedRt>
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      <invstOrSec>
        <name>Carlyle 2013-4 Income Note Issuer Limited</name>
        <lei>549300WQ4HLX1BLT1967</lei>
        <title>CGMS 2018-4A A2R</title>
        <cusip>14315RAN1</cusip>
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          <other otherDesc="Internal ID" value="US14315RAN17"/>
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        <curCd>USD</curCd>
        <valUSD>8297421.02</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-19</maturityDt>
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        <name>Cyprium Corp./Cyprium Holdings Luxembourg S.a r.l.</name>
        <lei>254900V7LN9S9W17X250</lei>
        <title>VGNT 6.125 04/15/31 144A</title>
        <cusip>23292NAA6</cusip>
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          <isin value="US23292NAA63"/>
          <ticker value="VGNT"/>
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        <balance>3522000</balance>
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        <curCd>USD</curCd>
        <valUSD>3472049.06</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
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      <invstOrSec>
        <name>FREMF 2023-K511 MORTGAGE TRUST</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREMF 2023-K511 C</title>
        <cusip>30334FAG5</cusip>
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          <isin value="US30334FAG54"/>
          <ticker value="FREMF"/>
          <other otherDesc="Internal ID" value="30334FAG5"/>
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        <balance>1347000</balance>
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        <curCd>USD</curCd>
        <valUSD>1265546.24</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.634368</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <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>8350000</balance>
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        <curCd>USD</curCd>
        <valUSD>8355926</valUSD>
        <pctVal>0.3064974251</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>
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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>CROTON PARK CLO LTD</name>
        <lei>N/A</lei>
        <title>CRTPK 2024-1A A2</title>
        <cusip>227800AC3</cusip>
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          <isin value="US227800AC31"/>
          <ticker value="CRTPK"/>
          <other otherDesc="Internal ID" value="US227800AC31"/>
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        <balance>4289000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4279594.65</valUSD>
        <pctVal>0.1569765865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.23219</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Neuberger Berman Loan Advisers Clo 34 Ltd</name>
        <lei>5493009EGZQAPYYVLD80</lei>
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          <isin value="US64135XAA90"/>
          <ticker value="NEUB"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OCP Clo 2019-16 Ltd.</name>
        <lei>254900XAI48J82ID5O83</lei>
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          <isin value="US671078AY96"/>
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        <curCd>USD</curCd>
        <valUSD>2033583.09</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>OCP CLO 2014-6 Ltd.</name>
        <lei>2549001TBA76KDJQIQ68</lei>
        <title>OCP 2025-44A A</title>
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          <isin value="US67570UAA07"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Formula One</name>
        <lei>N/A</lei>
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          <isin value="XAL2465BAW62"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-30</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS6380</title>
        <cusip>3140XNCS1</cusip>
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          <isin value="US3140XNCS13"/>
          <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>2.5</annualizedRt>
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        <securityLending>
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      <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>3768000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.68748</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>
        <identifiers>
          <ticker value="VNTHLD"/>
          <other otherDesc="Internal ID" value="BL5566114"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-03</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS6926</title>
        <cusip>3140XNVU5</cusip>
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          <isin value="US3140XNVU57"/>
          <ticker value="FNMA"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS8037</title>
        <cusip>3140XP4X4</cusip>
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          <isin value="US3140XP4X46"/>
          <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>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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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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          <isin value="US38139FAN06"/>
          <ticker value="GLM"/>
          <other otherDesc="Internal ID" value="US38139FAN06"/>
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        <balance>6961000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</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>TICP CLO VI 2016-2 Ltd.</name>
        <lei>254900JG2DPAYUCW8T83</lei>
        <title>SIXST 2017-9A AR</title>
        <cusip>83012CAC9</cusip>
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          <isin value="US83012CAC91"/>
          <ticker value="TICP"/>
          <other otherDesc="Internal ID" value="US83012CAC91"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.04969</annualizedRt>
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      <invstOrSec>
        <name>FS TRUST 2026-ORL</name>
        <lei>N/A</lei>
        <title>FS 2026-ORL A</title>
        <cusip>30343YAA6</cusip>
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          <isin value="US30343YAA64"/>
          <ticker value="FS"/>
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        <balance>2431000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR ZT1633</title>
        <cusip>3132ADY69</cusip>
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          <isin value="US3132ADY692"/>
          <ticker value="FHLMC"/>
          <other otherDesc="SEDOL" value="BK4PF16"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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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"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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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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          <isin value="US3140HBFX17"/>
          <ticker value="FNMA"/>
          <other otherDesc="SEDOL" value="BD3HDF4"/>
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        <balance>425349.932259</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS7607</title>
        <cusip>3140XPNZ8</cusip>
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          <isin value="US3140XPNZ84"/>
          <ticker value="FNMA"/>
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        <balance>1432728.0184504</balance>
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        <curCd>USD</curCd>
        <valUSD>1482594.57</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
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        <name>Teva Pharmaceutical Finance Netherlands III B.V.</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 National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <title>FN BO3223</title>
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      </invstOrSec>
      <invstOrSec>
        <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>Viper Energy Partners LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VISTA POINT SECURITIZATION TRUST 2026-CES1</name>
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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>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD3493</title>
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          <isin value="US3132DQ3A25"/>
          <ticker value="FHLMC"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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>
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          <ticker value="TEVA"/>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BO4725</title>
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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>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BO5957</title>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <title>FN BO7717</title>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BT2256</title>
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          <ticker value="FNMA"/>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BT8021</title>
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          <ticker value="FNMA"/>
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        <name>Federal National Mortgage Association</name>
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        <title>FN BV2962</title>
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        <name>Vistra Operations Co LLC</name>
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        <name>Vistra Operations Co LLC</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV2965</title>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV4144</title>
        <cusip>3140MHTA7</cusip>
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          <isin value="US3140MHTA72"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140MHTA7"/>
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        <balance>3017375.1047504</balance>
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        <curCd>USD</curCd>
        <valUSD>2684969.25</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</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>Wells Fargo Commercial Mortgage Trust 2025-VTT</name>
        <lei>N/A</lei>
        <title>WFCM 2025-VTT A</title>
        <cusip>94990GAA7</cusip>
        <identifiers>
          <isin value="US94990GAA76"/>
          <ticker value="WFCM"/>
          <other otherDesc="Internal ID" value="94990GAA7"/>
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        <balance>7753000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7754208.44</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>2038-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.760345</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>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WFC V5.244 01/24/31</title>
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          <isin value="US95000U3P60"/>
          <ticker value="WFC"/>
          <other otherDesc="Internal ID" value="95000U3P6"/>
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        <balance>3920000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3995974.38</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>2031-01-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.244</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD2897</title>
        <cusip>3132DQGE0</cusip>
        <identifiers>
          <isin value="US3132DQGE08"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DQGE0"/>
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        <balance>1234426.5953393</balance>
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        <curCd>USD</curCd>
        <valUSD>1254475.96</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD4668</title>
        <cusip>3132DSFH0</cusip>
        <identifiers>
          <isin value="US3132DSFH04"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DSFH0"/>
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        <balance>4865296.8636192</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5000672.31</valUSD>
        <pctVal>0.1834258928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD7023</title>
        <cusip>3132DUYU5</cusip>
        <identifiers>
          <isin value="US3132DUYU59"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DUYU5"/>
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        <balance>2487568.5472571</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2208838.96</valUSD>
        <pctVal>0.0810207575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD8040</title>
        <cusip>3132DV4Z5</cusip>
        <identifiers>
          <isin value="US3132DV4Z58"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DV4Z5"/>
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        <balance>113740.98414624</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111212.55</valUSD>
        <pctVal>0.0040793037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</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>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BY6374</title>
        <cusip>3140NPCL2</cusip>
        <identifiers>
          <isin value="US3140NPCL28"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140NPCL2"/>
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        <balance>384909.58488542</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391074.7</valUSD>
        <pctVal>0.0143447164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BY6690</title>
        <cusip>3140NPNG1</cusip>
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          <isin value="US3140NPNG14"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140NPNG1"/>
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        <balance>303183.78846878</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302105.94</valUSD>
        <pctVal>0.0110813203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD7548</title>
        <cusip>3132DVL52</cusip>
        <identifiers>
          <isin value="US3132DVL521"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DVL52"/>
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        <balance>5080799.3423285</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4362495.06</valUSD>
        <pctVal>0.1600173940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD8212</title>
        <cusip>3132DWDR1</cusip>
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          <isin value="US3132DWDR16"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132DWDR1"/>
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        <balance>11036989.627053</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9348143.61</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</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>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BY7004</title>
        <cusip>3140NPYA2</cusip>
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          <isin value="US3140NPYA25"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140NPYA2"/>
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        <balance>133426.3670654</balance>
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        <curCd>USD</curCd>
        <valUSD>136513.79</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <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 CA3683</title>
        <cusip>3140QBCV8</cusip>
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          <isin value="US3140QBCV86"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140QBCV8"/>
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        <balance>69988.56298929</balance>
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        <curCd>USD</curCd>
        <valUSD>68427.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
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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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD4009</title>
        <cusip>3132E0N24</cusip>
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          <isin value="US3132E0N243"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132E0N24"/>
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        <balance>2863577.812893</balance>
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        <curCd>USD</curCd>
        <valUSD>2963245.55</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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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD4247</title>
        <cusip>3132E0WG3</cusip>
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          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="3132E0WG3"/>
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        <curCd>USD</curCd>
        <valUSD>3753281.21</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wendys Funding Llc</name>
        <lei>5493009DRVSTWJOXUL48</lei>
        <title>WEN 2019-1A A2II</title>
        <cusip>95058XAH1</cusip>
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          <isin value="US95058XAH17"/>
          <ticker value="WEN"/>
          <other otherDesc="SEDOL" value="BKBKSY8"/>
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        <balance>2568102.6981306</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2472732.94</valUSD>
        <pctVal>0.0907004537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.08</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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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>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB2681</title>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Foundry JV Holdco 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>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>RESEARCH-DRIVEN PAGAYA MOTOR ASSET TRUST 2026-R1</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Salesforce Inc.</name>
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        <name>Sequoia Mortgage Trust 2013-5</name>
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        <name>Sequoia Mortgage Trust 2004 11</name>
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        <name>Stack Infrastructure Issuer Llc</name>
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        <title>SIDC 2026-1A A2</title>
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        <debtSec>
          <maturityDt>2056-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>SWITCH ABS ISSUER LLC 2024-1</name>
        <lei>N/A</lei>
        <title>SWTCH 2026-1A A21</title>
        <cusip>871044BA0</cusip>
        <identifiers>
          <isin value="US871044BA09"/>
          <ticker value="SWTCH"/>
          <other otherDesc="Internal ID" value="871044BA0"/>
        </identifiers>
        <balance>5066000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5075197.96</valUSD>
        <pctVal>0.1861595120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.609</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>Takeoff Merger Subordinated Inc.</name>
        <lei>984500DF5ACB4A114F45</lei>
        <title>SUMIAL 4.85 03/24/31 144A</title>
        <cusip>873923AE6</cusip>
        <identifiers>
          <isin value="US873923AE65"/>
          <ticker value="SUMIAL"/>
          <other otherDesc="Internal ID" value="873923AE6"/>
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        <balance>7967000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7867370.35</valUSD>
        <pctVal>0.2885770835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85</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>Takeoff Merger Subordinated Inc.</name>
        <lei>984500DF5ACB4A114F45</lei>
        <title>SUMIAL 5.5 03/24/36 144A</title>
        <cusip>873923AG1</cusip>
        <identifiers>
          <isin value="US873923AG14"/>
          <ticker value="SUMIAL"/>
          <other otherDesc="Internal ID" value="873923AG1"/>
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        <balance>2337000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2302199.36</valUSD>
        <pctVal>0.0844452399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>TLN 6.25 02/01/34 144A</title>
        <cusip>87422VAM0</cusip>
        <identifiers>
          <isin value="US87422VAM00"/>
          <ticker value="TLN"/>
          <other otherDesc="Internal ID" value="87422VAM0"/>
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        <balance>5220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5161840.85</valUSD>
        <pctVal>0.1893375946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</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>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>TLN 6.5 02/01/36 144A</title>
        <cusip>87422VAN8</cusip>
        <identifiers>
          <isin value="US87422VAN82"/>
          <ticker value="TLN"/>
          <other otherDesc="Internal ID" value="87422VAN8"/>
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        <balance>8568000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8627382.49</valUSD>
        <pctVal>0.3164545161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5</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>Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp.</name>
        <lei>549300IQ3DN0F3VERF65</lei>
        <title>TEP 7.375 02/15/29 144A</title>
        <cusip>87470LAL5</cusip>
        <identifiers>
          <isin value="US87470LAL53"/>
          <ticker value="TEP"/>
          <other otherDesc="Internal ID" value="87470LAL5"/>
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        <balance>4006000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4121120.42</valUSD>
        <pctVal>0.1511637127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp.</name>
        <lei>549300IQ3DN0F3VERF65</lei>
        <title>TEP 6.75 03/15/34 144A</title>
        <cusip>87470LAM3</cusip>
        <identifiers>
          <isin value="US87470LAM37"/>
          <ticker value="TEP"/>
          <other otherDesc="Internal ID" value="87470LAM3"/>
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        <balance>9803000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9852083.62</valUSD>
        <pctVal>0.3613768554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taylor Morrison Communities Inc</name>
        <lei>549300O1Z08HI2MRK572</lei>
        <title>TMHC 5.125 08/01/30 144A</title>
        <cusip>87724RAJ1</cusip>
        <identifiers>
          <isin value="US87724RAJ14"/>
          <ticker value="TMHC"/>
          <other otherDesc="Internal ID" value="87724RAJ1"/>
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        <balance>6003000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5934333.48</valUSD>
        <pctVal>0.2176728147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125</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>Taylor Morrison Communities Inc</name>
        <lei>549300O1Z08HI2MRK572</lei>
        <title>TMHC 5.75 11/15/32 144A</title>
        <cusip>87724RAK8</cusip>
        <identifiers>
          <isin value="US87724RAK86"/>
          <ticker value="TMHC"/>
          <other otherDesc="Internal ID" value="87724RAK8"/>
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        <balance>8166000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8173145.25</valUSD>
        <pctVal>0.2997929822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</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>Tenaska Westmoreland</name>
        <lei>N/A</lei>
        <title>Tenaska Westmoreland Term Loan B 225 2033-01-18</title>
        <cusip>88032VAB4</cusip>
        <identifiers>
          <isin value="US88032VAB45"/>
          <ticker value="TNSWML"/>
          <other otherDesc="Internal ID" value="BL5478112"/>
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        <balance>9182000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9136090</valUSD>
        <pctVal>0.3351140329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.90534</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>ALA TRUST 2025-OANA</name>
        <lei>N/A</lei>
        <title>ALA 2025-OANA A</title>
        <cusip>009920AA7</cusip>
        <identifiers>
          <isin value="US009920AA71"/>
          <ticker value="ALA"/>
          <other otherDesc="Internal ID" value="009920AA7"/>
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        <balance>6211000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6212302.94</valUSD>
        <pctVal>0.2278688030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <annualizedRt>5.41563</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>ALA TRUST 2025-OANA</name>
        <lei>N/A</lei>
        <title>ALA 2025-OANA B</title>
        <cusip>009920AC3</cusip>
        <identifiers>
          <isin value="US009920AC38"/>
          <ticker value="ALA"/>
          <other otherDesc="Internal ID" value="009920AC3"/>
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        <balance>2119000</balance>
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        <curCd>USD</curCd>
        <valUSD>2119526.07</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>
          <annualizedRt>5.51548</annualizedRt>
          <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>Alpha Generation LLC</name>
        <lei>254900K5V62L4YGVKF49</lei>
        <title>Alpha Generation LLC Term Loan B 275 2031-09-08</title>
        <cusip>02072UAC6</cusip>
        <identifiers>
          <isin value="US02072UAC62"/>
          <ticker value="ALPGEN"/>
          <other otherDesc="Internal ID" value="02072UAC6"/>
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        <balance>4012212.5</balance>
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        <curCd>USD</curCd>
        <valUSD>3998530.86</valUSD>
        <pctVal>0.1466670974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.41774</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Connecticut Avenue Securities Trust 2024-R04</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2024-R04 1M1</title>
        <cusip>20753GAB7</cusip>
        <identifiers>
          <isin value="US20753GAB77"/>
          <ticker value="CAS"/>
          <other otherDesc="Internal ID" value="20753GAB7"/>
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        <balance>408169.10682869</balance>
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        <curCd>USD</curCd>
        <valUSD>408270.84</valUSD>
        <pctVal>0.0149754750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.7619</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2024-R01 1M1</title>
        <cusip>20753UAA8</cusip>
        <identifiers>
          <isin value="US20753UAA88"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="20753UAA8"/>
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        <balance>1024126.0117494</balance>
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        <curCd>USD</curCd>
        <valUSD>1023985.25</valUSD>
        <pctVal>0.0375600313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.7119</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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>CAS 2025-R01 1M1</title>
        <cusip>20755JAB9</cusip>
        <identifiers>
          <isin value="US20755JAB98"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="20755JAB9"/>
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        <balance>556198.917705</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555342.93</valUSD>
        <pctVal>0.0203701155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.7619</annualizedRt>
          <isDefault>N</isDefault>
          <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>
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          <isin value="US207941AA35"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>554058.62</valUSD>
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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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        <title>FNR 2018-27 EA</title>
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        <curCd>USD</curCd>
        <valUSD>3175245.85</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <title>FN CB6686</title>
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          <isin value="US3140QSNC12"/>
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        <curCd>USD</curCd>
        <valUSD>1597363.45</valUSD>
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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>
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        <title>FN CB6851</title>
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          <isin value="US3140QSTH45"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>1126139.13</valUSD>
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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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB7430</title>
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          <isin value="US3140QTHG72"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>1876191.88</valUSD>
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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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        <securityLending>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CB8134</title>
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          <isin value="US3140QUBC95"/>
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        <curCd>USD</curCd>
        <valUSD>3434882.07</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2025-HQA1 M1</title>
        <cusip>35564NGZ0</cusip>
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          <isin value="US35564NGZ06"/>
          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564NGZ0"/>
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        <balance>2140362.4489522</balance>
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        <curCd>USD</curCd>
        <valUSD>2138486.62</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.8119</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 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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        <balance>272786.03041814</balance>
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        <curCd>USD</curCd>
        <valUSD>260516.84</valUSD>
        <pctVal>0.0095558219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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 785843</title>
        <cusip>3622ABLY6</cusip>
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          <isin value="US3622ABLY61"/>
          <ticker value="GNR"/>
          <other otherDesc="Internal ID" value="3622ABLY6"/>
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        <balance>7540742.2496986</balance>
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        <curCd>USD</curCd>
        <valUSD>6423811.14</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Great Wolf Trust 2015-Wolf Mz</name>
        <lei>N/A</lei>
        <title>GWT 2024-WLF2 A</title>
        <cusip>362414AA2</cusip>
        <identifiers>
          <isin value="US362414AA28"/>
          <ticker value="GWT"/>
          <other otherDesc="Internal ID" value="362414AA2"/>
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        <balance>7775000</balance>
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        <curCd>USD</curCd>
        <valUSD>7773270.7</valUSD>
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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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        <securityLending>
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      <invstOrSec>
        <name>Gracie Point International Funding 2020-B</name>
        <lei>N/A</lei>
        <title>GPIF 2025-1A A</title>
        <cusip>38411WAA0</cusip>
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          <isin value="US38411WAA09"/>
          <ticker value="GPIF"/>
          <other otherDesc="Internal ID" value="38411WAA0"/>
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        <balance>3606000</balance>
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        <curCd>USD</curCd>
        <valUSD>3606975.06</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>2028-08-15</maturityDt>
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      <invstOrSec>
        <name>Health Care Service Corp A Mutual Legal Reserve Co.</name>
        <lei>549300TMJ1FKCKECR148</lei>
        <title>HCSERV 5.2 06/15/29 144A</title>
        <cusip>42218SAK4</cusip>
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          <ticker value="HCSERV"/>
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        <curCd>USD</curCd>
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        <name>Health Care Service Corp A Mutual Legal Reserve Co.</name>
        <lei>549300TMJ1FKCKECR148</lei>
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        <cusip>42218SAL2</cusip>
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      <invstOrSec>
        <name>Heartland Dental LLC / Heartland Dental Finance Corp.</name>
        <lei>5493008FRC0GRKBN1075</lei>
        <title>HEARTL 10.5 04/30/28 144A</title>
        <cusip>42239PAB5</cusip>
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          <ticker value="HEARTL"/>
          <other otherDesc="Internal ID" value="42239PAB5"/>
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        <curCd>USD</curCd>
        <valUSD>1600875.85</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</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"/>
          <other otherDesc="Internal ID" value="42806MDL0"/>
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        <balance>2621000</balance>
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        <curCd>USD</curCd>
        <valUSD>2613836.07</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>2030-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62</annualizedRt>
          <isDefault>N</isDefault>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>HESM 4.25 02/15/30 144A</title>
        <cusip>428102AE7</cusip>
        <identifiers>
          <isin value="US428102AE79"/>
          <ticker value="HESM"/>
          <other otherDesc="Internal ID" value="428102AE7"/>
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        <balance>9846000</balance>
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        <curCd>USD</curCd>
        <valUSD>9461388.66</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>HESM 6.5 06/01/29 144A</title>
        <cusip>428102AG2</cusip>
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          <ticker value="HESM"/>
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        <balance>7886000</balance>
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        <curCd>USD</curCd>
        <valUSD>8055747.33</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>HESM 5.875 03/01/28 144A</title>
        <cusip>428102AH0</cusip>
        <identifiers>
          <isin value="US428102AH01"/>
          <ticker value="HESM"/>
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        <balance>6456000</balance>
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        <curCd>USD</curCd>
        <valUSD>6497421.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</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>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>HESM 5.125 06/15/28 144A</title>
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          <isin value="US428104AA14"/>
          <ticker value="HESM"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HOMEWARD OPPORTUNITIES FD TR 2024-</name>
        <lei>N/A</lei>
        <title>HOF 2024-RRTL2 A1</title>
        <cusip>43789GAA9</cusip>
        <identifiers>
          <isin value="US43789GAA94"/>
          <ticker value="HOF"/>
          <other otherDesc="Internal ID" value="43789GAA9"/>
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        <balance>3066000</balance>
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        <curCd>USD</curCd>
        <valUSD>3066661.95</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.989</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HOMEWARD OPPORTUNITIES FUND TRUST 2</name>
        <lei>N/A</lei>
        <title>HOF 2025-RRTL1 A1</title>
        <cusip>437919AA1</cusip>
        <identifiers>
          <isin value="US437919AA10"/>
          <ticker value="HOF"/>
          <other otherDesc="Internal ID" value="437919AA1"/>
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        <balance>4363000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Homeward Opportunities Fund I Trust</name>
        <lei>N/A</lei>
        <title>HOF 2025-RRTL2 A1</title>
        <cusip>437923AA3</cusip>
        <identifiers>
          <isin value="US437923AA30"/>
          <ticker value="HOF"/>
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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>
        <debtSec>
          <maturityDt>2040-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.237</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Hudson's Bay Simon JV Trust</name>
        <lei>N/A</lei>
        <title>HBCT 2015-HB10 A10</title>
        <cusip>44422PBN1</cusip>
        <identifiers>
          <isin value="US44422PBN15"/>
          <ticker value="HBCT"/>
          <other otherDesc="Internal ID" value="44422PBN1"/>
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        <balance>1475000</balance>
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        <curCd>USD</curCd>
        <valUSD>1417480.87</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>2034-08-05</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Humana Inc.</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUM 5.95 03/15/34</title>
        <cusip>444859BY7</cusip>
        <identifiers>
          <isin value="US444859BY76"/>
          <ticker value="HUM"/>
          <other otherDesc="Internal ID" value="444859BY7"/>
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        <balance>10534000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10742374.42</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>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95</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>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JPMMT 2025-5MPR A1D</title>
        <cusip>46593VAD9</cusip>
        <identifiers>
          <isin value="US46593VAD91"/>
          <ticker value="JPMMT"/>
          <other otherDesc="Internal ID" value="46593VAD9"/>
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        <balance>1596356.511192</balance>
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        <curCd>USD</curCd>
        <valUSD>1592065.21</valUSD>
        <pctVal>0.0583973443</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.5</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>AFFIRM MASTER TRUST</name>
        <lei>N/A</lei>
        <title>AFRMT 2025-3A A</title>
        <cusip>00833BAN8</cusip>
        <identifiers>
          <isin value="US00833BAN82"/>
          <ticker value="AFRMT"/>
          <other otherDesc="Internal ID" value="00833BAN8"/>
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        <balance>3080000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3068131.33</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>Alpha Generation LLC</name>
        <lei>254900K5V62L4YGVKF49</lei>
        <title>ALPGEN 6.25 01/15/34 144A</title>
        <cusip>02073LAC5</cusip>
        <identifiers>
          <isin value="US02073LAC54"/>
          <ticker value="ALPGEN"/>
          <other otherDesc="Internal ID" value="02073LAC5"/>
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        <balance>4424000</balance>
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        <curCd>USD</curCd>
        <valUSD>4345888.09</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-15</maturityDt>
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      <invstOrSec>
        <name>American Electric Power Co, Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>AEP V5.8 03/15/56 C</title>
        <cusip>02557TAE9</cusip>
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          <isin value="US02557TAE91"/>
          <ticker value="AEP"/>
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        <curCd>USD</curCd>
        <valUSD>2727357.22</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>2056-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.8</annualizedRt>
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      <invstOrSec>
        <name>American Electric Power Co, Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>AEP V6.05 03/15/56 D</title>
        <cusip>02557TAF6</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-03-15</maturityDt>
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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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          <isin value="US03464KAA60"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="03464KAA6"/>
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        <balance>97784.4061387</balance>
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        <curCd>USD</curCd>
        <valUSD>96933.32</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.593</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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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          <isin value="US03464VAA26"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="03464VAA2"/>
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        <balance>78961.4895465</balance>
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        <curCd>USD</curCd>
        <valUSD>78138.12</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.62</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPM V4.898 01/22/37</title>
        <cusip>46647PFJ0</cusip>
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          <isin value="US46647PFJ03"/>
          <ticker value="JPM"/>
          <other otherDesc="Internal ID" value="46647PFJ0"/>
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        <balance>13779000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13482884.61</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>2037-01-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.898</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>Jane Street Group LLC / JSG Finance Inc.</name>
        <lei>5493002N1IVX6KHGYO08</lei>
        <title>JANEST 7.125 04/30/31 144A</title>
        <cusip>47077WAC2</cusip>
        <identifiers>
          <isin value="US47077WAC29"/>
          <ticker value="JANEST"/>
          <other otherDesc="SEDOL" value="BLDCK76"/>
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        <balance>6387000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6565554.97</valUSD>
        <pctVal>0.2408261745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>N/A</lei>
        <title>AOMT 2020-2 A1A</title>
        <cusip>03464XAL4</cusip>
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          <isin value="US03464XAL47"/>
          <ticker value="AOMT"/>
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        <curCd>USD</curCd>
        <valUSD>817568.75</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>2065-01-26</maturityDt>
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          <annualizedRt>2.531</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust 2020-3</name>
        <lei>N/A</lei>
        <title>AOMT 2020-3 A2</title>
        <cusip>03465LAB1</cusip>
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          <isin value="US03465LAB18"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="03465LAB1"/>
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        <balance>537704.2815822</balance>
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        <curCd>USD</curCd>
        <valUSD>517886.14</valUSD>
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        <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>
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      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>25490045FDNHIWZ12934</lei>
        <title>AOMT 2024-5 A1</title>
        <cusip>03465YAA5</cusip>
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          <isin value="US03465YAA55"/>
          <ticker value="AOMT"/>
          <other otherDesc="Internal ID" value="03465YAA5"/>
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        <balance>5571867.4325495</balance>
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        <curCd>USD</curCd>
        <valUSD>5527954.1</valUSD>
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        <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>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>254900GRN1I3WMM1H095</lei>
        <title>AOMT 2025-6 A1</title>
        <cusip>034937AA0</cusip>
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          <isin value="US034937AA05"/>
          <ticker value="AOMT"/>
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        <balance>4020542.8112883</balance>
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        <curCd>USD</curCd>
        <valUSD>4035307.18</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ansley Park Capital 2025-A LLC</name>
        <lei>N/A</lei>
        <title>APARK 2025-A A2</title>
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          <isin value="US03637AAB89"/>
          <ticker value="APARK"/>
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        <balance>2517372.089608</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.43</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Antero Resources Corporation</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
        <title>AR 5.4 02/01/36</title>
        <cusip>03674XAU0</cusip>
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          <isin value="US03674XAU00"/>
          <ticker value="AR"/>
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        <balance>14983000</balance>
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        <curCd>USD</curCd>
        <valUSD>14733711.8</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.4</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jane Street Group LLC / JSG Finance Inc.</name>
        <lei>5493002N1IVX6KHGYO08</lei>
        <title>JANEST 6.125 11/01/32 144A</title>
        <cusip>47077WAD0</cusip>
        <identifiers>
          <isin value="US47077WAD02"/>
          <ticker value="JANEST"/>
          <other otherDesc="Internal ID" value="47077WAD0"/>
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        <balance>7691000</balance>
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        <curCd>USD</curCd>
        <valUSD>7605542.99</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125</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>Jane Street Group LLC / JSG Finance Inc.</name>
        <lei>5493002N1IVX6KHGYO08</lei>
        <title>JANEST 6.75 05/01/33 144A</title>
        <cusip>47077WAE8</cusip>
        <identifiers>
          <isin value="US47077WAE84"/>
          <ticker value="JANEST"/>
          <other otherDesc="Internal ID" value="47077WAE8"/>
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        <balance>7772000</balance>
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        <curCd>USD</curCd>
        <valUSD>7885222.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Apollo Debt Solutions BDC</name>
        <lei>549300UMUGX092P8DW87</lei>
        <title>APODS 5.2 12/08/28 144A</title>
        <cusip>03770DAH6</cusip>
        <identifiers>
          <isin value="US03770DAH61"/>
          <ticker value="APODS"/>
          <other otherDesc="Internal ID" value="03770DAH6"/>
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        <balance>2456000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2425515.02</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>2028-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Apld Computeco 2 LLC</name>
        <lei>N/A</lei>
        <title>PFORGE 6.75 03/15/31 144A</title>
        <cusip>03772CAA1</cusip>
        <identifiers>
          <isin value="US03772CAA18"/>
          <ticker value="PFORGE"/>
          <other otherDesc="Internal ID" value="03772CAA1"/>
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        <balance>6922000</balance>
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        <curCd>USD</curCd>
        <valUSD>6871601.61</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RCKT Mortgage Trust 2024-CES7</name>
        <lei>N/A</lei>
        <title>RCKT 2024-CES7 A1A</title>
        <cusip>749414AA6</cusip>
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          <isin value="US749414AA67"/>
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          <other otherDesc="Internal ID" value="749414AA6"/>
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        <balance>4556891.115728</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-25</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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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        <balance>3988000</balance>
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        <curCd>USD</curCd>
        <valUSD>3895402.81</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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      <invstOrSec>
        <name>Janus Henderson Cash Liquidity Fund LLC</name>
        <lei>N/A</lei>
        <title>Janus Henderson Cash Liquidity Fund LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="895"/>
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        <balance>179418361.1391</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>U.S. Bank National Association</name>
        <lei>6BYL5QZYBDK8S7L73M02</lei>
        <title>USCLN 2026-RVM1 B1</title>
        <cusip>90355PAJ5</cusip>
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          <isin value="US90355PAJ57"/>
          <ticker value="USB"/>
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        <balance>2371000</balance>
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        <curCd>USD</curCd>
        <valUSD>2359304.24</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>2046-12-25</maturityDt>
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          <annualizedRt>4.959</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Applovin Corp.</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>APP 5.375 12/01/31</title>
        <cusip>03831WAC2</cusip>
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          <isin value="US03831WAC29"/>
          <ticker value="APP"/>
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        <balance>4227000</balance>
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        <curCd>USD</curCd>
        <valUSD>4268474.52</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Applovin Corp.</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>APP 5.5 12/01/34</title>
        <cusip>03831WAD0</cusip>
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          <isin value="US03831WAD02"/>
          <ticker value="APP"/>
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        <balance>11125000</balance>
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        <valUSD>11032895.57</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Airlines Holdings Inc</name>
        <lei>98450079DA0B78DD6764</lei>
        <title>UAL 4.875 03/01/29</title>
        <cusip>910047AM1</cusip>
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          <isin value="US910047AM17"/>
          <ticker value="UAL"/>
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        <balance>17253000</balance>
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        <curCd>USD</curCd>
        <valUSD>16874843.57</valUSD>
        <pctVal>0.6189734212</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>U.S. Bancorp.</name>
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          <ticker value="USB"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-23</maturityDt>
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      <invstOrSec>
        <name>U.S. Bancorp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-12</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>U.S. Bancorp.</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-12</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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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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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Applovin Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95</annualizedRt>
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      <invstOrSec>
        <name>Aqua Finance Trust 2019-A</name>
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          <isin value="US03842VAA52"/>
          <ticker value="AQFIT"/>
          <other otherDesc="Internal ID" value="03842VAA5"/>
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        <balance>628839.944544</balance>
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        <curCd>USD</curCd>
        <valUSD>577801.61</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.54</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4.625 11/15/55</title>
        <cusip>912810UP1</cusip>
        <identifiers>
          <isin value="US912810UP11"/>
          <ticker value="T"/>
          <other otherDesc="Internal ID" value="912810UP1"/>
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        <curCd>USD</curCd>
        <valUSD>11564324.92</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4.625 02/15/46</title>
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          <isin value="US912810UT33"/>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>SLST 2020-2 M1</title>
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          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="35564CGD3"/>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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          <ticker value="FNMA"/>
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        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
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          <ticker value="T"/>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV6879</title>
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          <ticker value="FNMA"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BV7632</title>
        <cusip>3140MMPS1</cusip>
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          <isin value="US3140MMPS12"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140MMPS1"/>
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        <curCd>USD</curCd>
        <valUSD>219973.28</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>COOPR 2025-CES2 A1A</title>
        <cusip>12674UAA1</cusip>
        <identifiers>
          <isin value="US12674UAA16"/>
          <ticker value="FHLMC"/>
          <other otherDesc="Internal ID" value="12674UAA1"/>
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        <balance>1421868.4443813</balance>
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        <curCd>USD</curCd>
        <valUSD>1425368.51</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.502</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2021-HQA3 M2</title>
        <cusip>35564KJP5</cusip>
        <identifiers>
          <isin value="US35564KJP57"/>
          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564KJP5"/>
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        <balance>1319182</balance>
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        <curCd>USD</curCd>
        <valUSD>1323626.29</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.7619</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>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>STACR 2021-HQA4 M2</title>
        <cusip>35564KNS4</cusip>
        <identifiers>
          <isin value="US35564KNS41"/>
          <ticker value="STACR"/>
          <other otherDesc="Internal ID" value="35564KNS4"/>
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        <balance>8431645</balance>
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        <curCd>USD</curCd>
        <valUSD>8481990.95</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.0119</annualizedRt>
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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 BV8484</title>
        <cusip>3140MNNA0</cusip>
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          <isin value="US3140MNNA05"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="3140MNNA0"/>
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        <balance>400443.4953538</balance>
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        <curCd>USD</curCd>
        <valUSD>371702.32</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>2052-04-01</maturityDt>
          <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>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BW0072</title>
        <cusip>3140MRCJ4</cusip>
        <identifiers>
          <isin value="US3140MRCJ47"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140MRCJ4"/>
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        <balance>99133.4952504</balance>
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        <curCd>USD</curCd>
        <valUSD>96106.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.5</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM 2024-WCL1 A</title>
        <cusip>20047DAA2</cusip>
        <identifiers>
          <isin value="US20047DAA28"/>
          <ticker value="COMM"/>
          <other otherDesc="Internal ID" value="20047DAA2"/>
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        <balance>4244767</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4227547.35</valUSD>
        <pctVal>0.1550674787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.51351</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>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>749000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>745726.87</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA-30YR</title>
        <cusip>01F022642</cusip>
        <identifiers>
          <isin value="US01F0226427"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="01F022642"/>
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        <balance>14252340</balance>
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        <curCd>USD</curCd>
        <valUSD>11987158.59</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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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>FNMA-30YR</title>
        <cusip>01F030645</cusip>
        <identifiers>
          <isin value="US01F0306450"/>
          <ticker value="FNMA"/>
          <other otherDesc="Internal ID" value="01F030645"/>
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        <balance>1572000</balance>
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        <curCd>USD</curCd>
        <valUSD>1382047.38</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atlas Warehouse Lending Co. LP</name>
        <lei>25490068J12A1HV7YM70</lei>
        <title>ATWALD 6.05 01/15/28</title>
        <cusip>049463AD4</cusip>
        <identifiers>
          <isin value="US049463AD44"/>
          <ticker value="ATWALD"/>
          <other otherDesc="Internal ID" value="049463AD4"/>
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        <balance>3930000</balance>
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        <curCd>USD</curCd>
        <valUSD>3982791.93</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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      <invstOrSec>
        <name>Atlas Warehouse Lending Co. LP</name>
        <lei>25490068J12A1HV7YM70</lei>
        <title>ATWALD 6.25 01/15/30</title>
        <cusip>049463AE2</cusip>
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          <isin value="US049463AE27"/>
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          <other otherDesc="Internal ID" value="049463AE2"/>
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        <valUSD>3260161.58</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BW0081</title>
        <cusip>3140MRCT2</cusip>
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          <isin value="US3140MRCT29"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140MRCT2"/>
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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>4.5</annualizedRt>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BW0343</title>
        <cusip>3140MRLZ8</cusip>
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          <isin value="US3140MRLZ87"/>
          <ticker value="FN"/>
          <other otherDesc="Internal ID" value="3140MRLZ8"/>
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        <balance>460699.75611095</balance>
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        <curCd>USD</curCd>
        <valUSD>446632.04</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>4.5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 3.375 12/31/27</title>
        <cusip>91282CPS4</cusip>
        <identifiers>
          <isin value="US91282CPS43"/>
          <ticker value="T"/>
          <other otherDesc="Internal ID" value="91282CPS4"/>
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        <balance>5682000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5638275.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 4.125 02/15/36</title>
        <cusip>91282CPZ8</cusip>
        <identifiers>
          <isin value="US91282CPZ85"/>
          <ticker value="T"/>
          <other otherDesc="Internal ID" value="91282CPZ8"/>
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        <balance>177600</balance>
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        <curCd>USD</curCd>
        <valUSD>174825</valUSD>
        <pctVal>0.0064126241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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      <invstOrSec>
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        <name>United States Treasury Notes</name>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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          <isin value="US3140MSNE14"/>
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        <name>Federal National Mortgage Association</name>
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          <isin value="US3140N0FK67"/>
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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>Government National Mortgage Association</name>
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        <name>Atlas Warehouse Lending Co. LP</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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      <invstOrSec>
        <name>Freddie Mac Stacr Remic Trust 2022-DNA7</name>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 3.5 02/28/31</title>
        <cusip>91282CQD6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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          <isin value="US3140NAMH37"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Federal National Mortgage Association</name>
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          <isin value="US3140NAT371"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Salesforce Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Salesforce Inc.</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AGL CLO I Ltd.</name>
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        <name>BPR TRUST 2024-PMDW</name>
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        <name>BX Trust 2018-Bilt</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>Essential Home</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
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        <name>Federal National Mortgage Association</name>
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        <name>CF HIPPOLYTA ISSUER LLC</name>
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        <title>SORT 2022-1A A1</title>
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          <isin value="US12530MAL90"/>
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      <invstOrSec>
        <name>Centene Corp.</name>
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        <name>Salesforce Inc.</name>
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        <name>Salesforce Inc.</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN BY0866</title>
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        <name>Federal National Mortgage Association</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Janus Henderson Cash Collateral Fund LLC</name>
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        <identifiers>
          <other otherDesc="Internal ID" value="896"/>
        </identifiers>
        <balance>1932832</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1932832</valUSD>
        <pctVal>0.0708967541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1932832.000000000000" isCashCollateral="Y"/>
          <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>483208</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>483208</valUSD>
        <pctVal>0.0177241885</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="483208.000000000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Kingdom Pound Cash Balance</name>
        <lei>N/A</lei>
        <title>United Kingdom Pound Cash Balance</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="GBP Cash"/>
        </identifiers>
        <balance>179.86</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>179.86</valUSD>
        <pctVal>0.0000065973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign Currencies" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <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>
  <documents>XXXX</documents>
</edgarSubmission>
