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          <isin value="US00774MBD65"/>
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        <curCd>USD</curCd>
        <valUSD>1790767.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AERCAP IRELAND CAP/GLOBA</name>
        <lei>N/A</lei>
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        <cusip>00774MBN4</cusip>
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          <isin value="US00774MBN48"/>
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        <balance>620000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>629417.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR LEASE CORP</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Air Lease Corp</title>
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          <isin value="US00914AAT97"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AIRCASTLE LTD</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd</title>
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          <isin value="US00928QAU58"/>
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        <balance>731000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705824.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-26</maturityDt>
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          <annualizedRt>2.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALASKA AIRLINES 2020 TR</name>
        <lei>N/A</lei>
        <title>Alaska Airlines 2020-1 Class A Pass Through Trust</title>
        <cusip>01166VAA7</cusip>
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          <isin value="US01166VAA70"/>
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        <balance>392197.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>393254.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALIMENTATION COUCHE-TARD</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard Inc</title>
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          <isin value="US01626PAM86"/>
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        <balance>327000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>309260.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-25</maturityDt>
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      <invstOrSec>
        <name>ALLEGION US HOLDING CO</name>
        <lei>5493002B66JX7J7SXI33</lei>
        <title>Allegion US Holding Co Inc</title>
        <cusip>01748NAE4</cusip>
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          <isin value="US01748NAE40"/>
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        <balance>323000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>319120.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALTRIA GROUP INC</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group Inc</title>
        <cusip>02209SBS1</cusip>
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          <isin value="US02209SBS14"/>
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        <balance>475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>482658.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOWMET AEROSPACE INC</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace Inc</title>
        <cusip>022249AU0</cusip>
        <identifiers>
          <isin value="US022249AU09"/>
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        <balance>551000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>581942.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICA MOVIL SAB DE CV</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil SAB de CV</title>
        <cusip>02364WBH7</cusip>
        <identifiers>
          <isin value="US02364WBH79"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>264375.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>AMERICAN ELECTRIC POWER</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co Inc</title>
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          <isin value="US025537AN10"/>
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        <balance>526000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>482900.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CO</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co</title>
        <cusip>025816CM9</cusip>
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        <balance>1900000.00000000</balance>
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        <valUSD>1858695.84000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-04</maturityDt>
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          <annualizedRt>1.65000000</annualizedRt>
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        <name>AMERICAN EXPRESS CO</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co</title>
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          <maturityDt>2028-02-16</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>AMERICAN EXPRESS CO</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-25</maturityDt>
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          <annualizedRt>4.73000000</annualizedRt>
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        <name>American Express Credit Account Master Trust</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>American Express Credit Account Master Trust</title>
        <cusip>02582JKH2</cusip>
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          <isin value="US02582JKH22"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>713034.93000000</valUSD>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>5.23000000</annualizedRt>
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        <name>American Express Credit Account Master Trust</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>American Express Credit Account Master Trust</title>
        <cusip>02582JKP4</cusip>
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        <balance>1860000.00000000</balance>
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          <maturityDt>2030-04-15</maturityDt>
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        <name>American Express Credit Account Master Trust</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>American Express Credit Account Master Trust</title>
        <cusip>02582JKV1</cusip>
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        <balance>3380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3419345.49000000</valUSD>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>AMERICAN HONDA FINANCE</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp</title>
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        <valUSD>1301135.37000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
        <lei>254900CFOEUA52TRVZ51</lei>
        <title>Angel Oak Mortgage Trust 2025-10</title>
        <cusip>034940AA4</cusip>
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          <isin value="US034940AA42"/>
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        <balance>245000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANTERO RESOURCES CORP</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
        <title>Antero Resources Corp</title>
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          <isin value="US03674XAS53"/>
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        <balance>381000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>5.38000000</annualizedRt>
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      <invstOrSec>
        <name>Apidos CLO Ltd</name>
        <lei>549300M5NMLBQJXUO195</lei>
        <title>Apidos CLO XII</title>
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          <isin value="US03764DAM39"/>
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        <balance>27110.47000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
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      <invstOrSec>
        <name>arbor multifamily mortgage securities trust</name>
        <lei>N/A</lei>
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        <cusip>03882KAC6</cusip>
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          <isin value="US03882KAC62"/>
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        <balance>345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>334870.81000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-15</maturityDt>
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      <invstOrSec>
        <name>ARCELORMITTAL SA</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ArcelorMittal SA</title>
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          <isin value="US03938LBE39"/>
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        <balance>651000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARES CAPITAL CORP</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corp</title>
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          <isin value="US04010LBE20"/>
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        <balance>506000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>519806.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARES CLO Ltd</name>
        <lei>N/A</lei>
        <title>ARES XLIV CLO Ltd</title>
        <cusip>04016NBH5</cusip>
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          <isin value="US04016NBH52"/>
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        <balance>1025000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024170.78000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.03000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AutoNation Finance Trust 2025-1</name>
        <lei>N/A</lei>
        <title>AutoNation Finance Trust 2025-1</title>
        <cusip>05330QAC6</cusip>
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          <isin value="US05330QAC69"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478231.31000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVANGRID INC</name>
        <lei>549300OX0Q38NLSKPB49</lei>
        <title>Avangrid Inc</title>
        <cusip>05351WAB9</cusip>
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          <isin value="US05351WAB90"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>575444.97000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>AVERY DENNISON CORP</name>
        <lei>549300PW7VPFCYKLIV37</lei>
        <title>Avery Dennison Corp</title>
        <cusip>053611AJ8</cusip>
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          <isin value="US053611AJ82"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>600561.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
        <cusip>05377RHC1</cusip>
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          <isin value="US05377RHC16"/>
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        <balance>890000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-20</maturityDt>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
        <cusip>05377RLA0</cusip>
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          <isin value="US05377RLA04"/>
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        <balance>780000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-20</maturityDt>
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          <annualizedRt>4.40000000</annualizedRt>
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        <name>AVNET INC</name>
        <lei>XJI53DCPL7QABOWK4Z75</lei>
        <title>Avnet Inc</title>
        <cusip>053807AW3</cusip>
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        <balance>666000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>AXIS SPECIALTY FINANCE</name>
        <lei>N/A</lei>
        <title>AXIS Specialty Finance LLC</title>
        <cusip>05463HAC5</cusip>
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        <balance>278000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage Securities LLC</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust 2025-5C37</title>
        <cusip>05494NAC5</cusip>
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          <isin value="US05494NAC56"/>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506343.94000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bank of America Credit Card Trust</name>
        <lei>5493006DQ60M1CRKHH19</lei>
        <title>BA Credit Card Trust</title>
        <cusip>05522RDF2</cusip>
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          <isin value="US05522RDF29"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200062.04000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Credit Card Trust</name>
        <lei>5493006DQ60M1CRKHH19</lei>
        <title>BA Credit Card Trust</title>
        <cusip>05522RDK1</cusip>
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          <isin value="US05522RDK14"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>202019.59000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.31000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAE SYSTEMS PLC</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
        <title>BAE Systems PLC</title>
        <cusip>05523RAH0</cusip>
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          <isin value="US05523RAH03"/>
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        <valUSD>859381.95000000</valUSD>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAT CAPITAL CORP</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp</title>
        <cusip>05526DBB0</cusip>
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          <isin value="US05526DBB01"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAT CAPITAL CORP</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp</title>
        <cusip>05526DBH7</cusip>
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          <isin value="US05526DBH70"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT CAPITAL CORP</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp</title>
        <cusip>05526DBP9</cusip>
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          <isin value="US05526DBP96"/>
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        <balance>526000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage Securities LLC</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust 2020-C8</title>
        <cusip>05552AAZ1</cusip>
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          <isin value="US05552AAZ12"/>
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        <balance>58145.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55426.10000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BCRED MML CLO 2021-1 LLC</name>
        <lei>2549008X01GXURMQIW78</lei>
        <title>BCRED MML CLO 2021-1 LLC</title>
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          <isin value="US05554LAG77"/>
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        <curCd>USD</curCd>
        <valUSD>200260.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BMW Vehicle Lease Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Lease Trust 2025-2</title>
        <cusip>05594HAD5</cusip>
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          <isin value="US05594HAD52"/>
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        <balance>1725000.00000000</balance>
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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>2028-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.97000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust 2021-ARIA</title>
        <cusip>05608RAA3</cusip>
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          <isin value="US05608RAA32"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>309352.73000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust 2021-VOLT</title>
        <cusip>05609VAJ4</cusip>
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          <isin value="US05609VAJ44"/>
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        <balance>460193.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>459860.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>05964HAQ8</cusip>
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          <isin value="US05964HAQ83"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399345.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-24</maturityDt>
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      <invstOrSec>
        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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        <cusip>05964HAY1</cusip>
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          <isin value="US05964HAY18"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANCO INBURSA</name>
        <lei>9598007PWYZP4GP23S45</lei>
        <title>Banco Inbursa SA Institucion De Banca Multiple Grupo Financiero Inbursa</title>
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          <isin value="US05969LAB71"/>
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        <curCd>USD</curCd>
        <valUSD>634684.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-11</maturityDt>
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      <invstOrSec>
        <name>BANGKOK BANK PCL/HK</name>
        <lei>549300CCL2BKJGMYXV60</lei>
        <title>Bangkok Bank PCL/Hong Kong</title>
        <cusip>06000BAB8</cusip>
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          <isin value="US06000BAB80"/>
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        <balance>579000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>578802.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank5</name>
        <lei>N/A</lei>
        <title>BANK5 2025-5YR17</title>
        <cusip>06211GAG1</cusip>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>521493.43000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-11</maturityDt>
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      <invstOrSec>
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        <lei>HPFHU0OQ28E4N0NFVK49</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US0641598S88"/>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF NOVA SCOTIA</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank</name>
        <lei>N/A</lei>
        <title>BANK 2019-BNK24</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bank</name>
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        <title>BANK 2019-BNK22</title>
        <cusip>06540XBE0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BARDOT CLO LTD</name>
        <lei>549300KP12IHV6MTDK86</lei>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barclays Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>Battery Park CLO Ltd.</name>
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        <invCountry>KY</invCountry>
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        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B15 Mortgage Trust</title>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2021-B27 Mortgage Trust</title>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2025-V18 Mortgage Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2025-V17 Mortgage Trust</title>
        <cusip>081934AR2</cusip>
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          <isin value="US081934AR26"/>
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        <balance>615000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-09-15</maturityDt>
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      <invstOrSec>
        <name>BERRY GLOBAL INC</name>
        <lei>549300AP2Q7ERHX6RI89</lei>
        <title>Berry Global Inc</title>
        <cusip>08576PAF8</cusip>
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        <balance>709000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>686562.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BIMBO BAKERIES USA INC</name>
        <lei>549300HOXXHHT7926W92</lei>
        <title>Bimbo Bakeries USA Inc</title>
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          <isin value="US09031WAC73"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BLOCK FINANCIAL LLC</name>
        <lei>N/A</lei>
        <title>Block Financial LLC</title>
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          <isin value="US093662AJ37"/>
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        <balance>304000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>288949.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>09659W2R4</cusip>
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          <isin value="US09659W2R48"/>
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        <balance>850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>797502.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.16000000</annualizedRt>
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      <invstOrSec>
        <name>BOARDWALK PIPELINES LP</name>
        <lei>549300W6AQ2GHHCGL606</lei>
        <title>Boardwalk Pipelines LP</title>
        <cusip>096630AF5</cusip>
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          <isin value="US096630AF58"/>
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        <balance>249000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249580.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO 2025-5C12 Mortgage Trust</title>
        <cusip>09663VAC4</cusip>
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          <isin value="US09663VAC46"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>602159.76000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.18000000</annualizedRt>
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      <invstOrSec>
        <name>Boca Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BOCA Commercial Mortgage Trust 2024-BOCA</title>
        <cusip>096817AA9</cusip>
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          <isin value="US096817AA90"/>
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        <balance>370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371117.09000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BMW Vehicle Lease Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Lease Trust 2025-1</title>
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          <isin value="US096912AE09"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>241964.76000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-25</maturityDt>
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          <annualizedRt>4.49000000</annualizedRt>
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      <invstOrSec>
        <name>BOOZ ALLEN HAMILTON INC</name>
        <lei>549300D7XCH2480XU542</lei>
        <title>Booz Allen Hamilton Inc</title>
        <cusip>09951LAB9</cusip>
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          <isin value="US09951LAB99"/>
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        <balance>370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>360999.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>BRAVO Residential Funding Trust</name>
        <lei>254900H5A4PX072RRR06</lei>
        <title>BRAVO Residential Funding Trust 2025-CES2</title>
        <cusip>10568RAA1</cusip>
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          <isin value="US10568RAA14"/>
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        <balance>1348100.54000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1344899.66000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-26</maturityDt>
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      <invstOrSec>
        <name>BRAVO Residential Funding Trust</name>
        <lei>254900XY2WSFF1Q6S467</lei>
        <title>Bravo Residential Funding Trust 2025-NQM9</title>
        <cusip>10569WAC5</cusip>
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          <isin value="US10569WAC55"/>
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        <balance>1101455.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1100545.12000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BROADCOM INC</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BROADCOM INC</name>
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        <title>Broadcom Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust 2022-LBA6</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CDW LLC/CDW FINANCE</name>
        <lei>N/A</lei>
        <title>CDW LLC / CDW Finance Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>CDW LLC/CDW FINANCE</name>
        <lei>N/A</lei>
        <title>CDW LLC / CDW Finance Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CMS ENERGY CORP</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp</title>
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        <balance>305000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSAIL 2020-C19 Commercial Mortgage Trust</title>
        <cusip>12597NAQ6</cusip>
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          <isin value="US12597NAQ60"/>
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        <balance>17489.70000000</balance>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-15</maturityDt>
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          <annualizedRt>1.30000000</annualizedRt>
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      <invstOrSec>
        <name>CNO FINANCIAL GROUP INC</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO Financial Group Inc</title>
        <cusip>12621EAL7</cusip>
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        <balance>665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>675721.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Carlyle Global Market Strategies</name>
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        <name>CarMax Auto Owner Trust</name>
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        <name>CarMax Auto Owner Trust</name>
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      </invstOrSec>
      <invstOrSec>
        <name>CARNIVAL CORP</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp</title>
        <cusip>143658BQ4</cusip>
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        <balance>352000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>346312.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</maturityDt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Carvana Auto Receivables Trust 2025-P3</title>
        <cusip>14688AAD9</cusip>
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          <isin value="US14688AAD90"/>
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        <balance>430000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>427768.73000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Carval CLO LTD</name>
        <lei>254900BDRF474L9PWM54</lei>
        <title>CarVal CLO XI C Ltd</title>
        <cusip>14688RAA8</cusip>
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          <isin value="US14688RAA86"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>180535.14000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-20</maturityDt>
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      <invstOrSec>
        <name>CATERPILLAR FINL SERVICE</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp</title>
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          <isin value="US14913R3B15"/>
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        <balance>1765000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-06</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cedar Funding Ltd</name>
        <lei>635400NWFWJ92O7QGD64</lei>
        <title>Cedar Funding V CLO Ltd</title>
        <cusip>15032AAY3</cusip>
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          <isin value="US15032AAY38"/>
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        <balance>144876.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>141824.35000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cedar Funding Ltd</name>
        <lei>N/A</lei>
        <title>Cedar Funding XII CLO Ltd</title>
        <cusip>15033TBA2</cusip>
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          <isin value="US15033TBA25"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>375213.75000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-25</maturityDt>
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          <annualizedRt>5.06000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CELULOSA ARAUCO CONSTITU</name>
        <lei>549300QEKV8G0AMNQD28</lei>
        <title>Celulosa Arauco y Constitucion SA</title>
        <cusip>151191BE2</cusip>
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          <isin value="US151191BE29"/>
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        <balance>314000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306871.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CENCOSUD SA</name>
        <lei>549300NLTGCFV7482429</lei>
        <title>Cencosud SA</title>
        <cusip>15132HAH4</cusip>
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          <isin value="US15132HAH49"/>
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        <balance>796000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>796617.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.38000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>CENTENE CORP</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp</title>
        <cusip>15135BAY7</cusip>
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          <isin value="US15135BAY74"/>
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        <balance>730000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680115.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</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>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital</title>
        <cusip>161175BJ2</cusip>
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        <balance>703000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>692438.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Chase Issuance Trust</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>Chase Issuance Trust</title>
        <cusip>161571HT4</cusip>
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          <isin value="US161571HT41"/>
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        <balance>1685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1701991.05000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Chase Issuance Trust</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>Chase Issuance Trust</title>
        <cusip>161571HZ0</cusip>
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          <isin value="US161571HZ01"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>503873.89000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHEVRON USA INC</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>Chevron USA Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-26</maturityDt>
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        <name>CHEVRON CORP</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-05-16</maturityDt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <balance>770000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-23</maturityDt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <balance>695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>687095.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-20</maturityDt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967PZ8</cusip>
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        <balance>990000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>996359.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-07</maturityDt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>17327CAW3</cusip>
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        <balance>1255000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1271208.31000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust 2019-GC41</title>
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          <isin value="US17328FAX33"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-10</maturityDt>
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      <invstOrSec>
        <name>COCA-COLA EUROPACIFIC</name>
        <lei>549300LTH67W4GWMRF57</lei>
        <title>Coca-Cola Europacific Partners PLC</title>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
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      <invstOrSec>
        <name>COLT Funding LLC</name>
        <lei>2138006GN5HS2TH8G784</lei>
        <title>COLT 2024-INV3 Mortgage Loan Trust</title>
        <cusip>196919AA2</cusip>
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          <isin value="US196919AA20"/>
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        <balance>574085.57000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2069-09-25</maturityDt>
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          <annualizedRt>5.44000000</annualizedRt>
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      <invstOrSec>
        <name>COLUMBIA PIPELINE HOLDCO</name>
        <lei>N/A</lei>
        <title>Columbia Pipelines Holding Co LLC</title>
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          <isin value="US19828AAB35"/>
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        <balance>565000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-15</maturityDt>
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      <invstOrSec>
        <name>COMMONSPIRIT HEALTH</name>
        <lei>4SXHN5XW08IBO0UG2V58</lei>
        <title>CommonSpirit Health</title>
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          <isin value="US20268JAK97"/>
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        <balance>405000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
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      <invstOrSec>
        <name>CONAGRA BRANDS INC</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc</title>
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        <balance>622000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.38000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20754AAB9</cusip>
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          <isin value="US20754AAB98"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>185966.30000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.83000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20754GAE0</cusip>
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          <isin value="US20754GAE08"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>231459.31000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.98000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20754VAC1</cusip>
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          <isin value="US20754VAC19"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.43000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20755CAB4</cusip>
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          <isin value="US20755CAB46"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-10-25</maturityDt>
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          <annualizedRt>6.68000000</annualizedRt>
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      <invstOrSec>
        <name>CONSTELLATION BRANDS INC</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands Inc</title>
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          <isin value="US21036PBE79"/>
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        <balance>464000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>CONSTELLATION BRANDS INC</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands Inc</title>
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        <balance>337000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-09</maturityDt>
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      <invstOrSec>
        <name>CONSUMERS ENERGY CO</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co</title>
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        <balance>775000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>CONTINENTAL RESOURCES</name>
        <lei>XXRTID9RYWOZ0UPIVR53</lei>
        <title>Continental Resources Inc/OK</title>
        <cusip>212015AU5</cusip>
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          <isin value="US212015AU57"/>
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        <balance>190000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
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      <invstOrSec>
        <name>COREBRIDGE FINANCIAL INC</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial Inc</title>
        <cusip>21871XAP4</cusip>
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        <balance>464000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CoreVest American Finance Ltd</name>
        <lei>N/A</lei>
        <title>CoreVest American Finance 2022-1 Trust</title>
        <cusip>21873EAA7</cusip>
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        <balance>502296.92000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505207.15000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-17</maturityDt>
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      <invstOrSec>
        <name>COTY/HFC PRESTIGE/INT US</name>
        <lei>N/A</lei>
        <title>Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC</title>
        <cusip>22207AAA0</cusip>
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          <isin value="US22207AAA07"/>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502978.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>225313AK1</cusip>
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          <isin value="US225313AK19"/>
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        <balance>521000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>512562.67000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Credit Agricole Corporate and Investment Bank/New York</name>
        <lei>254900BN8XS34XZDJ223</lei>
        <title>Credit Agricole Corporate and Investment Bank/New York</title>
        <cusip>22536H5D7</cusip>
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          <isin value="US22536H5D78"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300014.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.51000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Auto Loan Trust 2025-1</title>
        <cusip>22536KAA0</cusip>
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          <isin value="US22536KAA07"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>699852.52000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.02000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS AG STAMFORD CT</name>
        <lei>254900R882POXXVAK772</lei>
        <title>UBS AG/Stamford CT</title>
        <cusip>22550L2M2</cusip>
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          <isin value="US22550L2M24"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>808545.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cross Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Cross 2023-H2 Mortgage Trust</title>
        <cusip>22757NAA6</cusip>
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          <isin value="US22757NAA63"/>
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        <balance>184313.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186997.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2068-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.14000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CUMMINS INC</name>
        <lei>ZUNI8PYC725B6H8JU438</lei>
        <title>Cummins Inc</title>
        <cusip>231021AY2</cusip>
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          <isin value="US231021AY22"/>
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        <balance>655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>659689.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>DBC 2025-DBC Mortgage Trust</name>
        <lei>N/A</lei>
        <title>DBC 2025-DBC Mortgage Trust</title>
        <cusip>23306HAA3</cusip>
        <identifiers>
          <isin value="US23306HAA32"/>
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        <balance>755000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>756508.64000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DLLAA LLC</name>
        <lei>N/A</lei>
        <title>DLLAA 2025-1 LLC</title>
        <cusip>233249AC5</cusip>
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          <isin value="US233249AC53"/>
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        <balance>420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>427347.48000000</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>2029-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DTE ENERGY CO</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co</title>
        <cusip>233331BF3</cusip>
        <identifiers>
          <isin value="US233331BF33"/>
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        <balance>282000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>266042.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DTE ENERGY CO</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co</title>
        <cusip>233331BM8</cusip>
        <identifiers>
          <isin value="US233331BM83"/>
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        <balance>765000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>774345.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHN DEERE CAPITAL CORP</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp</title>
        <cusip>24422EXD6</cusip>
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          <isin value="US24422EXD65"/>
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        <balance>1725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1742457.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEUTSCHE BANK NY</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG/New York NY</title>
        <cusip>251526BN8</cusip>
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          <isin value="US251526BN89"/>
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        <balance>508000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>508042.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>PURCHASED JPY / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="25JBKBB09CF"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="154.11000000"/>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>PURCHASED USD / SOLD GBP</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="25JBKBB09FN"/>
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        <balance>1.00000000</balance>
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              <counterpartyName>Westpac Banking Corp.</counterpartyName>
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      <invstOrSec>
        <name>Bank of New York Mellon</name>
        <lei>HPFHU0OQ28E4N0NFVK49</lei>
        <title>PURCHASED CAD / SOLD USD</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="25JBKBB0RRM"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Bank of New York Mellon</counterpartyName>
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      <invstOrSec>
        <name>State Street Bank &amp; Trust Co.</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>PURCHASED USD / SOLD SEK</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="25JBKBBW1C9"/>
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        <balance>1.00000000</balance>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>State Street Bank &amp; Trust Co.</counterpartyName>
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            <amtCurSold>16495192.09000000</amtCurSold>
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            <amtCurPur>1762980.15000000</amtCurPur>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>State Street Bank &amp; Trust Co.</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>PURCHASED NOK / SOLD USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Trade Identifier" value="25JBKBBW2KS"/>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="NOK" exchangeRt="10.12925000"/>
        <valUSD>-30502.46000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>State Street Bank &amp; Trust Co.</counterpartyName>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC Bank USA NA</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JPMorgan Chase Bank NA</counterpartyName>
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      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC Bank USA NA</counterpartyName>
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        <securityLending>
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        <name>HSBC Bank USA NA</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>HSBC Bank USA NA</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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        <cusip>000000000</cusip>
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          <other otherDesc="Trade Identifier" value="25JVKBB4MCP"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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        <title>PURCHASED USD / SOLD CHF</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank USA NA</name>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
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        <curCd>USD</curCd>
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        <name>DUKE ENERGY CORP</name>
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        <title>Duke Energy Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELM Trust 2024</name>
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        <title>ELM Trust 2024-ELM</title>
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        <name>ELM Trust 2024</name>
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        <curCd>USD</curCd>
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        <name>EQT CORP</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>ERAC USA FINANCE LLC</name>
        <lei>LTKX5ODQW6Z7BQ2K1V47</lei>
        <title>ERAC USA Finance LLC</title>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>339166.06000000</valUSD>
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        <name>Elmwood CLO I Ltd.</name>
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        <name>ENBRIDGE INC</name>
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        <title>Enbridge Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ENBRIDGE INC</name>
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        <title>Enbridge Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-20</maturityDt>
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      <invstOrSec>
        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-25</maturityDt>
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        <name>ENEL FINANCE INTL NV</name>
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        <title>Enel Finance International NV</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-06</maturityDt>
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        <name>ENTERPRISE PRODUCTS OPER</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2078-02-15</maturityDt>
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        <name>ENTERPRISE PRODUCTS OPER</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>29429EAC5</cusip>
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          <isin value="US29429EAC57"/>
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        <balance>840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>832634.60000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <name>EQUATE PETROCHEMICAL CO</name>
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        <title>EQUATE Petrochemical Co KSC</title>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>259358.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KW</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-03</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>EQUIFAX INC</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax Inc</title>
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        <balance>779000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>EQUINOR ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>Equinor ASA</title>
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          <maturityDt>2027-04-06</maturityDt>
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        <name>EQUITABLE AMERICA GLOBAL</name>
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        <title>Equitable America Global Funding</title>
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        <name>Evergreen Credit Card Trust</name>
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        <title>Evergreen Credit Card Trust</title>
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        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
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        <name>EXXON MOBIL CORPORATION</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp</title>
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        <name>FS KKR CAPITAL CORP</name>
        <lei>549300TYRSI1T21B1360</lei>
        <title>FS KKR Capital Corp</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
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        <name>FRESB Multifamily Mortgage Pass-Through Certifica</name>
        <lei>549300P6Y1UBYR0WQ049</lei>
        <title>FRESB 2018-SB52 Mortgage Trust</title>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2028-06-25</maturityDt>
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      <invstOrSec>
        <name>FRESB Multifamily Mortgage Pass-Through Certifica</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FRESB Multifamily Mortgage Pass-Through Certifica</name>
        <lei>549300P6Y1UBYR0WQ049</lei>
        <title>FRESB 2018-SB54 Mortgage Trust</title>
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          <isin value="US30297JAE73"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-25</maturityDt>
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      <invstOrSec>
        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FACTSET RESEARCH SYSTEMS</name>
        <lei>549300ZSJE7NBK6K9P30</lei>
        <title>FactSet Research Systems Inc</title>
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          <isin value="US303075AA30"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
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      <invstOrSec>
        <name>FAIRWAY FINANCE CO LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-10</maturityDt>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN BANK</name>
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        <title>Federal Home Loan Banks</title>
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        <balance>2000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN BANK</name>
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        <title>Federal Home Loan Banks</title>
        <cusip>3130B7V68</cusip>
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          <isin value="US3130B7V683"/>
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        <balance>2800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>FED HOME LN DISCOUNT NT</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>Federal Home Loan Bank Discount Notes</title>
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          <isin value="US313385RG39"/>
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        <balance>500000.00000000</balance>
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        <name>FEDERAL FARM CREDIT BANK</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>Federal Farm Credit Banks Funding Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <title>Federal Home Loan Mortgage Corp</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FERGUSON FINANCE PLC</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Firstkey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes 2022-SFR3 Trust</title>
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          <isin value="US33768EAA01"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FISERV INC</name>
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        <title>Fiserv Inc</title>
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          <isin value="US337738AU25"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIRSTENERGY CORP</name>
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          <isin value="US337932AH00"/>
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        <balance>363000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FLORIDA POWER &amp; LIGHT CO</name>
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        <title>Florida Power &amp; Light Co</title>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master Owner Trust</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
        <cusip>34528QJW5</cusip>
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          <isin value="US34528QJW50"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Owner Trust 2025-B</title>
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          <isin value="US34532BAG68"/>
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        <balance>1240000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Owner Trust 2022-B</title>
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        <balance>361243.33000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CREDIT CO LLC</name>
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        <name>Freddie Mac - STACR</name>
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        <name>Freddie Mac - STACR</name>
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        <name>FRESENIUS MED CARE III</name>
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        <title>Fresenius Medical Care US Finance III Inc</title>
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        <name>GLP CAPITAL LP / FIN II</name>
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        <name>HALEON US CAPITAL LLC</name>
        <lei>549300N8C3A3L0UVQB07</lei>
        <title>Haleon US Capital LLC</title>
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        <balance>550000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-24</maturityDt>
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        <name>GS Mortgage-Backed Securities Trust</name>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GCAT</name>
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          <isin value="US36831QAC50"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL CO</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL CO</name>
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          <isin value="US37045XFE13"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-04</maturityDt>
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          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>GEORGIA-PACIFIC LLC</name>
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        <title>Georgia-Pacific LLC</title>
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        <balance>695000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>700249.38000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-30</maturityDt>
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          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>GEORGIA POWER CO</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>Georgia Power Co</title>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212795.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-23</maturityDt>
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      <invstOrSec>
        <name>GM Financial Automobile Leasing Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Golden Credit Card Trust</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <name>GOLUB CAPITAL BDC</name>
        <lei>2549005WE0QLGK9APF78</lei>
        <title>Golub Capital BDC Inc</title>
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        <name>Gotham Funding Corp</name>
        <lei>549300Z2ZR7VTUMRPR17</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-16</maturityDt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-01-16</maturityDt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
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        <curCd>USD</curCd>
        <valUSD>306228.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GRAY OAK PIPELINE LLC</name>
        <lei>N/A</lei>
        <title>Gray Oak Pipeline LLC</title>
        <cusip>38937LAB7</cusip>
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          <isin value="US38937LAB71"/>
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        <balance>819000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>807272.72000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>3.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA INC</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc</title>
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          <isin value="US404119CP27"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>598850.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HCA INC</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc</title>
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          <isin value="US404119CX50"/>
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        <balance>1115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1119826.79000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.08000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280DF3</cusip>
        <identifiers>
          <isin value="US404280DF39"/>
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        <balance>212000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>213667.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.76000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280DG1</cusip>
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          <isin value="US404280DG12"/>
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        <balance>558000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>566962.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280EF2</cusip>
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          <isin value="US404280EF20"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203872.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hin Timeshare Trust</name>
        <lei>N/A</lei>
        <title>HINNT 2024-A LLC</title>
        <cusip>40472QAA5</cusip>
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          <isin value="US40472QAA58"/>
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        <balance>114427.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116865.09000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.49000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HASBRO INC</name>
        <lei>549300NUB6D2R1ITYR45</lei>
        <title>Hasbro Inc</title>
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          <isin value="US418056AZ06"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>430162.59000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>HEALTHCARE RLTY HLDGS LP</name>
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        <title>Healthcare Realty Holdings LP</title>
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        <balance>888000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>HERCULES CAPITAL INC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Hertz Vehicle Financing LLC</name>
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        <name>Hertz Vehicle Financing LLC</name>
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        <name>Hertz Vehicle Financing LLC</name>
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        <name>Hertz Vehicle Financing LLC</name>
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        <name>Hertz Vehicle Financing LLC</name>
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        <title>Hertz Vehicle Financing III LLC</title>
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          <maturityDt>2029-09-25</maturityDt>
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        <name>HEXCEL CORP</name>
        <lei>S6Q7LW43WUBUHXY2QP69</lei>
        <title>Hexcel Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HIGHWOODS REALTY LP</name>
        <lei>JUJNVZX73BIYHLR58F51</lei>
        <title>Highwoods Realty LP</title>
        <cusip>431282AR3</cusip>
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          <isin value="US431282AR39"/>
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        <balance>477000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>468195.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
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          <isin value="US43285HAA68"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOME DEPOT INC</name>
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        <title>Home Depot Inc/The</title>
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          <isin value="US437076DB56"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Home Partners of America Trust</name>
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          <isin value="US437301AA24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-17</maturityDt>
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      <invstOrSec>
        <name>Home Partners of America Trust</name>
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          <isin value="US43732TAC53"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-19</maturityDt>
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          <annualizedRt>2.92000000</annualizedRt>
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      <invstOrSec>
        <name>Home Partners of America Trust</name>
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        <title>Home Partners of America 2021-2 Trust</title>
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          <isin value="US43732VAA44"/>
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        <balance>311836.08000000</balance>
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        <curCd>USD</curCd>
        <valUSD>303706.03000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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      <invstOrSec>
        <name>Honda Auto Receivables Owner Trust</name>
        <lei>N/A</lei>
        <title>Honda Auto Receivables 2024-2 Owner Trust</title>
        <cusip>437930AB6</cusip>
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          <isin value="US437930AB63"/>
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        <balance>21633.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21651.40000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.48000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HONDA MOTOR CO LTD</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>Honda Motor Co Ltd</title>
        <cusip>438127AB8</cusip>
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          <isin value="US438127AB80"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>430939.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.53000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HONEYWELL INTERNATIONAL</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>Honeywell International Inc</title>
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          <isin value="US438516BL94"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1380380.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUBBELL INC</name>
        <lei>54930088VDQ6840Y6597</lei>
        <title>Hubbell Inc</title>
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        <balance>271000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>266313.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>HUNTINGTON INGALLS INDUS</name>
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        <title>Huntington Ingalls Industries Inc</title>
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        <balance>292000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>3.48000000</annualizedRt>
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        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-24</maturityDt>
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        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Auto Receivables Trust</name>
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          <maturityDt>2027-04-15</maturityDt>
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          <annualizedRt>5.29000000</annualizedRt>
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      <invstOrSec>
        <name>Hyundai Floorplan Master Owner Trust</name>
        <lei>N/A</lei>
        <title>Hyundai Floorplan Master Owner Trust</title>
        <cusip>44921QAH9</cusip>
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        <balance>885000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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          <annualizedRt>4.01000000</annualizedRt>
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        <name>Hyundai Auto Receivables Trust</name>
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        <title>Hyundai Auto Receivables Trust 2025-C</title>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-17</maturityDt>
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          <annualizedRt>3.97000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IMPERIAL BRANDS FIN PLC</name>
        <lei>2138008L3B3MCG1DFS50</lei>
        <title>Imperial Brands Finance PLC</title>
        <cusip>45262BAC7</cusip>
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          <isin value="US45262BAC72"/>
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        <balance>341000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>334443.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-26</maturityDt>
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          <annualizedRt>3.88000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>INVERSIONES CMPC SA</name>
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      <invstOrSec>
        <name>Invitation Homes Trust</name>
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        <name>ITC HOLDINGS CORP</name>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>JP Morgan Chase Commercial Mortgage Sec Trust</name>
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        <title>JPMCC Commercial Mortgage Securities Trust 2017-JP7</title>
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        <name>JP Morgan Mortgage Acquisition Corp</name>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>JP Morgan Chase Commercial Mortgage Sec Trust</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2024-CCM1</title>
        <cusip>46658NAF4</cusip>
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          <isin value="US46658NAF42"/>
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        <balance>2312772.66000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2325657.76000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-04-25</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2025-NQM4</title>
        <cusip>46660HAD8</cusip>
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          <isin value="US46660HAD89"/>
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        <curCd>USD</curCd>
        <valUSD>488622.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2066-03-25</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>JDE PEET'S NV</name>
        <lei>724500EHG519SE5ZRT89</lei>
        <title>JDE Peet's NV</title>
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          <isin value="US47216QAB95"/>
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        <balance>722000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>696387.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-15</maturityDt>
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          <annualizedRt>1.38000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>John Deere Owner Trust</name>
        <lei>549300MS3JZB0OWONQ39</lei>
        <title>John Deere Owner Trust 2024</title>
        <cusip>47800RAB9</cusip>
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          <isin value="US47800RAB96"/>
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        <balance>159567.43000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159659.48000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-16</maturityDt>
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      <invstOrSec>
        <name>John Deere Owner Trust</name>
        <lei>549300MS3JZB0OWONQ39</lei>
        <title>John Deere Owner Trust 2025-B</title>
        <cusip>47800UAB2</cusip>
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          <isin value="US47800UAB26"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>902105.91000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.28000000</annualizedRt>
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      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust 2019-COR6</title>
        <cusip>48129RAZ8</cusip>
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          <isin value="US48129RAZ82"/>
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        <balance>85648.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83789.58000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.98000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KEYSIGHT TECHNOLOGIES</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies Inc</title>
        <cusip>49338LAF0</cusip>
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          <isin value="US49338LAF04"/>
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        <balance>296000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>281659.83000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KRAFT HEINZ FOODS CO</name>
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        <title>Kraft Heinz Foods Co</title>
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        <balance>723000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>703047.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LPL HOLDINGS INC</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPL Holdings Inc</title>
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        <balance>779000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>761826.86000000</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>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>L3HARRIS TECH INC</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3Harris Technologies Inc</title>
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        <balance>1450000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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      <invstOrSec>
        <name>LEHMAN BROS CAP TR VII</name>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2025-11-30</maturityDt>
          <couponKind>None</couponKind>
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        <name>LENNAR CORP</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-29</maturityDt>
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      <invstOrSec>
        <name>LENNOX INTERNATIONAL INC</name>
        <lei>S7DWAC87RDMPBF77GJ92</lei>
        <title>Lennox International Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-15</maturityDt>
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      <invstOrSec>
        <name>LOWE'S COS INC</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-05</maturityDt>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp</title>
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        <balance>641000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>643327.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp</title>
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        <balance>725000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>732869.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-16</maturityDt>
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        <name>MF1 Multifamily Housing Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MFRA Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MPLX LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MSCI INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MVW Owner Trust</name>
        <lei>N/A</lei>
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          <isin value="US55389TAA97"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-22</maturityDt>
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      <invstOrSec>
        <name>MANULIFE FINANCIAL CORP</name>
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        <title>Manulife Financial Corp</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-24</maturityDt>
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      <invstOrSec>
        <name>MARKEL GROUP INC</name>
        <lei>549300SCNO12JLWIK605</lei>
        <title>Markel Group Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
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        <name>MARS INC</name>
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        <title>Mars Inc</title>
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        <balance>915000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
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        <name>MARS INC</name>
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        <title>Mars Inc</title>
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        <balance>660000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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        <name>MARSH &amp; MCLENNAN COS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASCO CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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        <name>MCCORMICK &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MCDONALD'S CORP</name>
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        <title>McDonald's Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Mercedes-Benz Auto Lease Trust</name>
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        <title>Mercedes-Benz Auto Lease Trust 2025-B</title>
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        <name>MERCEDES-BENZ AUTO RECEIVABLES TRUST</name>
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        <title>Mercedes-Benz Auto Receivables Trust 2025-1</title>
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        <name>Merchants Fleet Funding LLC</name>
        <lei>254900Z2OOQUA5IN2X83</lei>
        <title>Merchants Fleet Funding LLC</title>
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        <name>MERCK &amp; CO INC</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MERCURY GENERAL CORP</name>
        <lei>5493001Q9EXPCEL4W527</lei>
        <title>Mercury General Corp</title>
        <cusip>589400AB6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BON SECOURS MERCY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>MERITAGE HOMES CORP</name>
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        <title>Meritage Homes Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Miami-Dade Seaport Department</name>
        <lei>N/A</lei>
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          <isin value="US59335KCP03"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>1.52000000</annualizedRt>
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      <invstOrSec>
        <name>MICROSOFT CORP</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp</title>
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          <isin value="US594918BJ27"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>325000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MIDWEST CONNECTOR CAPIT</name>
        <lei>N/A</lei>
        <title>Midwest Connector Capital Co LLC</title>
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          <isin value="US59833CAC64"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
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      <invstOrSec>
        <name>Mill City Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Mill City Mortgage Loan Trust 2019-1</title>
        <cusip>59981AAC0</cusip>
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          <isin value="US59981AAC09"/>
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        <balance>113692.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>111040.25000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2069-10-25</maturityDt>
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      <invstOrSec>
        <name>MISC CAPITAL TWO LABUAN</name>
        <lei>9845000ED8376T875113</lei>
        <title>MISC Capital Two Labuan Ltd</title>
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          <isin value="US60475DAB73"/>
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        <balance>348000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-06</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>MONDELEZ INTERNATIONAL</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International Inc</title>
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          <isin value="US609207BF19"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>MONONGAHELA POWER CO</name>
        <lei>N/A</lei>
        <title>Monongahela Power Co</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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          <annualizedRt>3.55000000</annualizedRt>
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        <name>Mont Blanc Capital Corp</name>
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        <title>Mont Blanc Capital Corp</title>
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        <balance>400000.00000000</balance>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-05</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley Capital Inc</name>
        <lei>N/A</lei>
        <title>Morgan Stanley ABS Capital I Inc Trust 2004-HE3</title>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <maturityDt>2029-11-01</maturityDt>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Morgan Stanley BAML Trust</name>
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        <title>Morgan Stanley Bank of America Merrill Lynch Trust 2025-C35</title>
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        <name>Taxable Municipal Funding Trust</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Dormitory Authority</name>
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        <name>NextGear Floorplan Master Owner Trust</name>
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        <name>NIEUW AMSTERDAM REC BV</name>
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        <name>Nissan Master Owner Trust Receivables</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <title>Occidental Petroleum Corp</title>
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        <name>OMEGA HLTHCARE INVESTORS</name>
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        <title>Omega Healthcare Investors Inc</title>
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        <name>OPEN TEXT CORP</name>
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        <title>Oracle Corp</title>
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      <invstOrSec>
        <name>ORACLE CORP</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp</title>
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      </invstOrSec>
      <invstOrSec>
        <name>ORLANDO HEALTH OBL GRP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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      <invstOrSec>
        <name>BLUE OWL CAPITAL CORP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRP Advisors, LLC</name>
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        <name>PTTEP TREASURY CENTER CO</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-10</maturityDt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-03</maturityDt>
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      <invstOrSec>
        <name>PRP Advisors, LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-25</maturityDt>
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      <invstOrSec>
        <name>PMT Loan Trust</name>
        <lei>N/A</lei>
        <title>PMT Loan Trust 2025-J3</title>
        <cusip>69392XAH1</cusip>
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        <valUSD>787859.12000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-11-27</maturityDt>
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        <name>PACIFIC GAS &amp; ELECTRIC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pennsylvania Higher Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ST HGR EDUCTNL FACS AUTH REVENUE</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Redevelopment Authority of the City of Philadelphia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PHILIP MORRIS INTL INC</name>
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        <name>PLAINS ALL AMER PIPELINE</name>
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        <name>Progress Residential Trust</name>
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        <title>Progress Residential 2025-SFR4 Trust</title>
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        <name>Progress Residential Trust</name>
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        <name>Progress Residential Trust</name>
        <lei>5493002EEQ4GX2578787</lei>
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        <name>PROSUS NV</name>
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        <name>Woodward Capital Management</name>
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      <invstOrSec>
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        <name>Rate Mortgage Trust</name>
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        <name>Russell Investments Trust Company Commingled Employee Benefit Funds Trust-U.S. Cash Management Fund</name>
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        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL CARIBBEAN CRUISES</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd</title>
        <cusip>780153AG7</cusip>
        <identifiers>
          <isin value="US780153AG79"/>
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        <balance>172000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181698.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>78016EZQ3</cusip>
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          <isin value="US78016EZQ33"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1774809.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.20000000</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>78016HZT0</cusip>
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          <isin value="US78016HZT03"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212298.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>78017FZS5</cusip>
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          <isin value="US78017FZS54"/>
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        <balance>785000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>791871.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.52000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SK HYNIX INC</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK hynix Inc</title>
        <cusip>78392BAG2</cusip>
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          <isin value="US78392BAG23"/>
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        <balance>764000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>774819.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SLM Student Loan Trust</name>
        <lei>549300MJYMBTZU2FTV38</lei>
        <title>SLM Private Credit Student Loan Trust 2006-B</title>
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          <isin value="US78443CCU62"/>
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        <balance>144239.08000000</balance>
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        <curCd>USD</curCd>
        <valUSD>141149.90000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-15</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>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust 2023-B</title>
        <cusip>78449HAB3</cusip>
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          <isin value="US78449HAB33"/>
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        <balance>192018.48000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196527.28000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-10-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.03000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust 2021-B</title>
        <cusip>78449YAA8</cusip>
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          <isin value="US78449YAA82"/>
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        <balance>51112.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48238.48000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.31000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STAR 2022-SFR3 Trust</name>
        <lei>N/A</lei>
        <title>STAR 2022-SFR3 Trust</title>
        <cusip>78474PAA5</cusip>
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          <isin value="US78474PAA57"/>
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        <balance>1623478.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1625807.78000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-17</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANDS CHINA LTD</name>
        <lei>549300EVO6UZDGY05787</lei>
        <title>Sands China Ltd</title>
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          <isin value="US80007RAN52"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194311.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTANDER UK GROUP HLDGS</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings PLC</title>
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          <isin value="US80281LAG05"/>
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        <balance>367000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>363351.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.82000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTANDER HOLDINGS USA</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA Inc</title>
        <cusip>80282KBF2</cusip>
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        <balance>769000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800678.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAUDI INTERNATIONAL BOND</name>
        <lei>635400FMICXSM3SI3H65</lei>
        <title>Saudi Government International Bond</title>
        <cusip>80413TBJ7</cusip>
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          <isin value="US80413TBJ79"/>
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        <balance>610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>622856.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>SEALED AIR CORP</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>Sealed Air Corp</title>
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          <isin value="US81211KAZ30"/>
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        <balance>345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>335575.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
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          <annualizedRt>1.57000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851BA6</cusip>
        <identifiers>
          <isin value="US816851BA63"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>413073.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851BP3</cusip>
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        <balance>353000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>346551.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-INV1</title>
        <cusip>816939AF9</cusip>
        <identifiers>
          <isin value="US816939AF99"/>
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        <balance>1881908.82000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1887146.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2025-4</title>
        <cusip>81749MAE7</cusip>
        <identifiers>
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        <name>STAR 2024-SFR4 Trust</name>
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        <name>STATE STREET CORP</name>
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      <invstOrSec>
        <name>Stellantis Financial Underwritten Enhanced Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINL GRP</name>
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        <title>Sumitomo Mitsui Financial Group Inc</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUZANO AUSTRIA GMBH</name>
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          <isin value="US86964WAH51"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>SYNOPSYS INC</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys Inc</title>
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          <isin value="US871607AB32"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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          <annualizedRt>4.65000000</annualizedRt>
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      <invstOrSec>
        <name>SYNOVUS BANK GA</name>
        <lei>DX0JX77PRMOELF7VG772</lei>
        <title>Synovus Bank/Columbus GA</title>
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          <isin value="US87164DVJ61"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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      <invstOrSec>
        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
        <cusip>87165BAM5</cusip>
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          <isin value="US87165BAM54"/>
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        <curCd>USD</curCd>
        <valUSD>640592.28000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>SYNCHRONY BANK</name>
        <lei>549300UATVPGSLE43Z27</lei>
        <title>Synchrony Bank</title>
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          <isin value="US87166FAE34"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-23</maturityDt>
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          <annualizedRt>5.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SYSCO CORPORATION</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>SYSTEM ENERGY RESOURCES</name>
        <lei>N/A</lei>
        <title>System Energy Resources Inc</title>
        <cusip>871911AU7</cusip>
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        <curCd>USD</curCd>
        <valUSD>603088.89000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>TC PIPELINES LP</name>
        <lei>6HL0C5LCIE4TN8UZHL06</lei>
        <title>TC PipeLines LP</title>
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        <balance>413000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-25</maturityDt>
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          <annualizedRt>3.90000000</annualizedRt>
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        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA Inc</title>
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        <balance>825000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <name>TARGA RESOURCES CORP</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>Targa Resources Corp</title>
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        <balance>348000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-01</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>TELEFONICA EMISIONES SAU</name>
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        <title>Telefonica Emisiones SA</title>
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          <maturityDt>2027-03-08</maturityDt>
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        <name>TELUS CORP</name>
        <lei>894500WE70KKZRQMBU11</lei>
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        <invCountry>CA</invCountry>
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        <name>TENNESSEE GAS PIPELINE</name>
        <lei>N/A</lei>
        <title>Tennessee Gas Pipeline Co LLC</title>
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      <invstOrSec>
        <name>Tesla Sustainable Energy Trust</name>
        <lei>N/A</lei>
        <title>Tesla Sustainable Energy Trust 2024-1</title>
        <cusip>88164AAB0</cusip>
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        <balance>508692.62000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-21</maturityDt>
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      <invstOrSec>
        <name>TEVA PHARMACEUTICALS NE</name>
        <lei>5493004T21MOAFINJP35</lei>
        <title>Teva Pharmaceutical Finance Netherlands III BV</title>
        <cusip>88167AAE1</cusip>
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        <balance>138000.00000000</balance>
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        <valUSD>135795.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TORONTO DOMINION BANK</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
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        <name>Trillium Credit Card Trust II</name>
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        <title>Tyson Foods Inc</title>
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        <lei>254900R882POXXVAK772</lei>
        <title>UBS AG/Stamford CT</title>
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        <name>USB Auto Owner Trust</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>UNICREDIT SPA</name>
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          <isin value="US904678AQ20"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNILEVER CAPITAL CORP</name>
        <lei>MYF1DAS6G5WY7PRWCU78</lei>
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          <isin value="US904764BC04"/>
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        <name>UNITED AIR 2014-1 A PTT</name>
        <lei>N/A</lei>
        <title>United Airlines 2014-1 Class A Pass Through Trust</title>
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        <name>UNITED AIR 2014-2 A PTT</name>
        <lei>N/A</lei>
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          <isin value="US90932QAA40"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-03</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
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          <isin value="US912797NL78"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
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      <invstOrSec>
        <name>VISTRA OPERATIONS CO LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VMWARE LLC</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMware LLC</title>
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        <balance>784000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VONTIER CORP</name>
        <lei>549300VVSQLG4P5K4639</lei>
        <title>Vontier Corp</title>
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          <isin value="US928881AD35"/>
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        <balance>671000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>639667.70000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>VOYA FINANCIAL INC</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial Inc</title>
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          <isin value="US929089AF72"/>
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        <balance>397000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>379861.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>WMG ACQUISITION CORP</name>
        <lei>549300NAS11NXI33CP80</lei>
        <title>WMG Acquisition Corp</title>
        <cusip>92933BAT1</cusip>
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          <isin value="US92933BAT17"/>
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        <balance>376000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>359070.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Card issuance Trust</name>
        <lei>N/A</lei>
        <title>WF Card Issuance Trust</title>
        <cusip>92970QAE5</cusip>
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          <isin value="US92970QAE52"/>
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        <balance>935000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>942466.75000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.29000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>WASTE MANAGEMENT INC</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>Waste Management Inc</title>
        <cusip>94106LCB3</cusip>
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          <isin value="US94106LCB36"/>
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        <balance>965000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>975967.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300MZIB10PDVAE312</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2016-C35</title>
        <cusip>95000FAS5</cusip>
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          <isin value="US95000FAS56"/>
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        <balance>601422.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>596823.83000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.67000000</annualizedRt>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
        <cusip>95000U3L5</cusip>
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          <isin value="US95000U3L56"/>
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        <balance>1090000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.71000000</annualizedRt>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>Wells Fargo &amp; Co</title>
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        <balance>1270000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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        <balance>735000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2020-C55</title>
        <cusip>95002EAZ0</cusip>
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        <balance>52780.86000000</balance>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2019-C52</title>
        <cusip>95002MAV1</cusip>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <title>Wells Fargo Commercial Mortgage Trust 2025-5C6</title>
        <cusip>95004TAC6</cusip>
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      <invstOrSec>
        <name>Western Funding Auto Loan Trust</name>
        <lei>N/A</lei>
        <title>Western Funding Auto Loan Trust 2025-1</title>
        <cusip>958250AA0</cusip>
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        <balance>690000.00000000</balance>
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        <name>Western Funding Auto Loan Trust</name>
        <lei>N/A</lei>
        <title>Western Funding Auto Loan Trust 2025-1</title>
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        <balance>305000.00000000</balance>
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        <name>WESTERN MIDSTREAM OPERAT</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
        <title>Western Midstream Operating LP</title>
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        <balance>389000.00000000</balance>
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        <valUSD>389742.97000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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                <indexName>OSE Japanese 10 Year Bond Futures</indexName>
                <indexIdentifier>JBZ5 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>-1232516000.00000000</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>52923.24000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASX Clear (Futures)</name>
        <lei>549300ZD7BBOVZFVHK49</lei>
        <title>AUST 10Y BOND FUT DEC25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01VKR2782"/>
        </identifiers>
        <balance>91.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.52835100"/>
        <valUSD>6120.58000000</valUSD>
        <pctVal>0.001448173120</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ASX Clear (Futures)</counterpartyName>
              <counterpartyLei>549300ZD7BBOVZFVHK49</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>SFE 10 Year Commonwealth Treasury Bond Future Contract</indexName>
                <indexIdentifier>XMZ5 Comdty</indexIdentifier>
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            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>10329383.11000000</notionalAmt>
            <curCd>AUD</curCd>
            <unrealizedAppr>6120.58000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US 5YR NOTE (CBT) DEC25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01T2J7432"/>
        </identifiers>
        <balance>93.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1289.27000000</valUSD>
        <pctVal>0.000305050527</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Chicago Board of Trade</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CBOT 5 Year U.S. Treasury Note Futures</indexName>
                <indexIdentifier>FVZ5 Comdty</indexIdentifier>
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            </descRefInstrmnt>
            <expDate>2025-12-31</expDate>
            <notionalAmt>10155327.96000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1289.27000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intercontinental Exchange, Inc.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>CCPCDX--2I65BRAD5-20301220</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="SPDX0BBS"/>
        </identifiers>
        <balance>4585000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>333457.88000000</valUSD>
        <pctVal>0.078898525747</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Intercontinental Exchange, Inc.</counterpartyName>
              <counterpartyLei>5493000F4ZO33MV32P92</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CDX.NA.HY.S45</indexName>
                <indexIdentifier>2I65BRAD5 - RED Code</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="25472.23000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">sell protection</otherPmntDesc>
            <terminationDt>2030-12-20</terminationDt>
            <upfrontPmnt>344128.81000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>4585000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-10670.93000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Total returns do not reflect the deduction of sales loads and redemption fees" noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-11-17</ncom:dateSigned>
      <ncom:nameOfApplicant>RUSSELL INVESTMENT CO</ncom:nameOfApplicant>
      <ncom:signature>Ross Erickson</ncom:signature>
      <ncom:signerName>Ross Erickson</ncom:signerName>
      <ncom:title>Treasurer, Principal Accounting Officer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
