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      <regStreet1>2050 M Street NW</regStreet1>
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      <regCity>Washington</regCity>
      <regStateConditional regCountry="US" regState="US-DC"/>
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      <regPhone>202-238-2200</regPhone>
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        <name>AXIS Equipment Finance Receivables LLC</name>
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        <name>ANDREW W MELLON FOUNDATI</name>
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        <title>Andrew W Mellon Foundation/The</title>
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        <name>APOLLO GLOBAL MANAGEMENT</name>
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        <name>APPLE INC</name>
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        <title>Apple Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ASIAN INFRASTRUCTURE INV</name>
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        <name>ATHENE GLOBAL FUNDING</name>
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        <name>ATHENE HOLDING LTD</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>Banc of America Merrill Lynch Large Loan Inc</name>
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        <name>Banc of America Merrill Lynch Large Loan Inc</name>
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        <name>BFLD Trust</name>
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        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Boca Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US05964HAN52"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US05964HAQ83"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANCO SANTANDER SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-14</maturityDt>
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        <title>Bank of America Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-06</maturityDt>
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        <title>Bank of America Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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        <name>BANK OF AMERICA CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <name>BANK OF NEW YORK MELLON</name>
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        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <name>BBVA MEX BANCA GRUPO TX</name>
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        <title>BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX</title>
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        <name>BBVA MEX BANCA GRUPO TX</name>
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        <title>BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX</title>
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        <name>BFLD Trust</name>
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        <name>Bourzou Issuer LLC, Jamshid Issuer LLC, Cristobal Issuer LLC &amp; COPT DC-6 Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BROOKFIELD ASSET MANAGEM</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BROOKFIELD ASSET MANAGEM</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
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          <isin value="US123915AA85"/>
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        <balance>3720000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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        <cusip>12433GAC0</cusip>
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          <isin value="US12433GAC06"/>
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        <balance>3470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3488447.56000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CI FINANCIAL CORP</name>
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        <cusip>125491AT7</cusip>
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          <isin value="US125491AT73"/>
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        <balance>3625000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHNGE Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CHNGE Mortgage Trust 2023-4</title>
        <cusip>12569QAA8</cusip>
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          <isin value="US12569QAA85"/>
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        <balance>588312.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>588941.54000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-09-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CRSNT Trust</name>
        <lei>N/A</lei>
        <title>CRSNT Trust 2026-MOON</title>
        <cusip>12642SAA5</cusip>
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          <isin value="US12642SAA50"/>
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        <balance>2570000.00000000</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>2043-02-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CTR PARTNERSHIP/CARETRST</name>
        <lei>N/A</lei>
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          <isin value="US126458AE87"/>
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        <balance>2550000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CAJUN GLOBAL LLC</name>
        <lei>N/A</lei>
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          <isin value="US12803PAC23"/>
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        <balance>1655000.00000000</balance>
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        <curCd>USD</curCd>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA BUYER/ATLANTI</name>
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        <title>California Buyer Ltd / Atlantica Sustainable Infrastructure PLC</title>
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          <isin value="US13005HAA86"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
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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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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>CALIFORNIA ST HLTH FACS FING AUTH REVENUE</title>
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          <isin value="US13032UVM79"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CANADIAN IMPERIAL BANK</name>
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        <title>Canadian Imperial Bank of Commerce</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cascade MH Asset Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Castlelake Aircraft Securitization Trust</name>
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        <title>Castlelake Aircraft Structured Trust 2025-1</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Champs Trust</name>
        <lei>N/A</lei>
        <title>Champs Trust 2024-2</title>
        <cusip>15878BAA0</cusip>
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        <balance>881006.46000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Champs Trust</name>
        <lei>N/A</lei>
        <title>Champs Trust 2025-2</title>
        <cusip>15878DAA6</cusip>
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      <invstOrSec>
        <name>Chase Mortgage Finance Corporation</name>
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        <name>Chase Mortgage Finance Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chesapeake Funding II LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHNGE Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CITADEL FINANCE LLC</name>
        <lei>549300BQL283NCR7P163</lei>
        <title>Citadel Finance LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CITADEL LP</name>
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        <title>Citadel LP</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Clarus Capital Funding LLC</name>
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        <name>CONSERVATION FUND</name>
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        <name>CON EDISON CO OF NY INC</name>
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        <name>EquipmentShare</name>
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        <name>DB Master Finance LLC</name>
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        <name>DANSKE BANK A/S</name>
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        <name>DataBank Issuer LLC</name>
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        <name>Diamond Infrastructure Funding LLC</name>
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        <name>District of Columbia Water &amp; Sewer Authority</name>
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        <name>DURST Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>ENACT HOLDINGS INC</name>
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        <name>ENGIE SA</name>
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        <name>EQUITABLE AMERICA GLOBAL</name>
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        <title>Essent Group Ltd</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ESSENTIAL PROPERTIES LP</name>
        <lei>254900XX9FNFCDE1NX02</lei>
        <title>Essential Properties LP</title>
        <cusip>29670VAC3</cusip>
        <identifiers>
          <isin value="US29670VAC37"/>
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        <balance>1961000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1935657.59000000</valUSD>
        <pctVal>0.163107198064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>298785JT4</cusip>
        <identifiers>
          <isin value="US298785JT41"/>
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        <balance>13000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12845856.27000000</valUSD>
        <pctVal>1.082449516776</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXPORT-IMPORT BANK KOREA</name>
        <lei>549300APVP4R32PI3Y06</lei>
        <title>Export-Import Bank of Korea</title>
        <cusip>302154EQ8</cusip>
        <identifiers>
          <isin value="US302154EQ83"/>
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        <balance>6762000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6674974.01000000</valUSD>
        <pctVal>0.562463275297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>Extended Stay America Trust</name>
        <lei>N/A</lei>
        <title>Extended Stay America Trust 2026-ESH2</title>
        <cusip>30227WAA1</cusip>
        <identifiers>
          <isin value="US30227WAA18"/>
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        <balance>2019063.34000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2024021.55000000</valUSD>
        <pctVal>0.170553142016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.82500000</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>Extended Stay America Trust</name>
        <lei>N/A</lei>
        <title>Extended Stay America Trust 2026-ESH2</title>
        <cusip>30227WAE3</cusip>
        <identifiers>
          <isin value="US30227WAE30"/>
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        <balance>657718.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>662405.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.22500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Help Financial LLC</name>
        <lei>N/A</lei>
        <title>FHF Issuer Trust 2023-2</title>
        <cusip>30333LAB4</cusip>
        <identifiers>
          <isin value="US30333LAB45"/>
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        <balance>354448.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356534.89000000</valUSD>
        <pctVal>0.030043230383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>6.79000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FS Commerical Mortgage Trust 2023-4SZN</name>
        <lei>N/A</lei>
        <title>FS Commercial Mortgage Trust 2023-4SZN</title>
        <cusip>30334RAA2</cusip>
        <identifiers>
          <isin value="US30334RAA23"/>
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        <balance>1312000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1318574.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.06600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Farmer Mac Agricultural Real Estate Trust</name>
        <lei>N/A</lei>
        <title>FARM 2024-1 Mortgage Trust</title>
        <cusip>30335JAA9</cusip>
        <identifiers>
          <isin value="US30335JAA97"/>
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        <balance>2175806.16000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2134449.52000000</valUSD>
        <pctVal>0.179858298500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.67600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Farmer Mac Agricultural Real Estate Trust</name>
        <lei>N/A</lei>
        <title>FARM 2024-2 Mortgage Trust</title>
        <cusip>307910AC3</cusip>
        <identifiers>
          <isin value="US307910AC38"/>
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        <balance>1978293.19000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1814686.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.15500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DWBK8</cusip>
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          <isin value="US3132DWBK80"/>
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        <balance>184870.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162409.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DWK93</cusip>
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          <isin value="US3132DWK935"/>
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        <balance>3796838.26000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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          <isin value="US3132DWKV45"/>
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        <balance>5629607.34000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <balance>10581689.67000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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          <isin value="US3132DWMY65"/>
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        <balance>9893661.16000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <curCd>USD</curCd>
        <valUSD>17739643.75000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DWNK5</cusip>
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        <balance>6286173.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6323462.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <name>Fannie Mae</name>
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        <name>Fannie Mae</name>
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        <name>Fannie Mae</name>
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        <name>Freddie Mac</name>
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        <name>Freddie Mac Multiclass Certificates</name>
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        <name>FISERV INC</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>5493000ISA3AUOXQEF68</lei>
        <title>Freddie Mac STACR REMIC Trust 2022-DNA2</title>
        <cusip>35564KRE1</cusip>
        <identifiers>
          <isin value="US35564KRE19"/>
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        <balance>16513.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16553.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.92800000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>529900PGKDI4ZEXFQ523</lei>
        <title>Freddie Mac STACR REMIC Trust 2024-HQA1</title>
        <cusip>35564NBW2</cusip>
        <identifiers>
          <isin value="US35564NBW20"/>
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        <balance>2120782.58000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2132097.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.87800000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>3617UM5N2</cusip>
        <identifiers>
          <isin value="US3617UM5N21"/>
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        <balance>185293.58000000</balance>
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        <curCd>USD</curCd>
        <valUSD>157793.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>3617UUSS8</cusip>
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          <isin value="US3617UUSS88"/>
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        <balance>273199.08000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232653.24000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>3618AUEB0</cusip>
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          <isin value="US3618AUEB03"/>
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        <balance>98468.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101929.79000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>3618B54N9</cusip>
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          <isin value="US3618B54N96"/>
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        <balance>190262.85000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196951.61000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>3618BJD25</cusip>
        <identifiers>
          <isin value="US3618BJD251"/>
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        <balance>1405908.30000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1437067.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>3618BKMK2</cusip>
        <identifiers>
          <isin value="US3618BKMK29"/>
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        <balance>473515.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>497108.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Great Wolf Trust</name>
        <lei>N/A</lei>
        <title>GWT 2024-WLF2</title>
        <cusip>362414AA2</cusip>
        <identifiers>
          <isin value="US362414AA28"/>
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        <balance>1745000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1751313.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.31700000</annualizedRt>
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      <invstOrSec>
        <name>GSJP Trust</name>
        <lei>N/A</lei>
        <title>GSJP Trust 2025-BEDS</title>
        <cusip>362946AA3</cusip>
        <identifiers>
          <isin value="US362946AA33"/>
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        <balance>2929000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2918641.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL CO</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co Inc</title>
        <cusip>37045XEG7</cusip>
        <identifiers>
          <isin value="US37045XEG79"/>
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        <balance>1855000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1917078.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLOBAL ATLANTIC FIN CO</name>
        <lei>98450051B2E65CAA7E94</lei>
        <title>Global Atlantic Fin Co</title>
        <cusip>37959GAB3</cusip>
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          <isin value="US37959GAB32"/>
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        <balance>2994000.00000000</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>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLOBAL ATLANTIC FIN CO</name>
        <lei>98450051B2E65CAA7E94</lei>
        <title>Global Atlantic Fin Co</title>
        <cusip>37959GAF4</cusip>
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          <isin value="US37959GAF46"/>
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        <balance>3977000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust 2024-1</title>
        <cusip>37988XAB1</cusip>
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          <isin value="US37988XAB10"/>
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        <balance>462050.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>463876.89000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust 2024-2</title>
        <cusip>379924AC7</cusip>
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          <isin value="US379924AC72"/>
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        <balance>268232.25000000</balance>
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        <curCd>USD</curCd>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GC93</cusip>
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          <isin value="US38141GC936"/>
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        <balance>2060000.00000000</balance>
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        <valUSD>2080893.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-23</maturityDt>
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          <annualizedRt>5.21800000</annualizedRt>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GD35</cusip>
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        <balance>1451000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-21</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
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          <isin value="US38141GE833"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GoodLeap Sustainable Home Improvement Loan Trust</name>
        <lei>N/A</lei>
        <title>GoodLeap Sustainable Home Solutions Trust 2021-5</title>
        <cusip>38237HAA5</cusip>
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          <isin value="US38237HAA59"/>
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        <balance>97559.04000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
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          <isin value="US38384AF656"/>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38384AG64</cusip>
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          <isin value="US38384AG647"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38384CBT5</cusip>
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          <isin value="US38384CBT53"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38385BP53</cusip>
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          <isin value="US38385BP536"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-20</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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          <isin value="US38385EYD02"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-02-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38385KPJ3</cusip>
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          <isin value="US38385KPJ33"/>
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        <balance>3797507.80000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-12-20</maturityDt>
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      <invstOrSec>
        <name>Great Wolf Trust</name>
        <lei>N/A</lei>
        <title>Great Wolf Trust 2024-WOLF</title>
        <cusip>39152MAA3</cusip>
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          <isin value="US39152MAA36"/>
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        <balance>5061000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16700000</annualizedRt>
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      <invstOrSec>
        <name>HA SUSTAINABLE INF CAP</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HA Sustainable Infrastructure Capital Inc</title>
        <cusip>40409AAB6</cusip>
        <identifiers>
          <isin value="US40409AAB61"/>
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        <balance>380000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>381755.77000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HCA INC</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc</title>
        <cusip>404119DE6</cusip>
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          <isin value="US404119DE60"/>
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        <balance>4242000.00000000</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>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>HA SUSTAINABLE INF CAP</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HA Sustainable Infrastructure Capital Inc</title>
        <cusip>41068XAF7</cusip>
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          <isin value="US41068XAF78"/>
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        <balance>5020000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Hawaii Hotel Trust</name>
        <lei>N/A</lei>
        <title>Hawaii Hotel Trust 2025-MAUI</title>
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          <isin value="US419909AA44"/>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>HERC HOLDINGS INC</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings Inc</title>
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          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>HEXCEL CORP</name>
        <lei>S6Q7LW43WUBUHXY2QP69</lei>
        <title>Hexcel Corp</title>
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          <maturityDt>2035-02-26</maturityDt>
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      <invstOrSec>
        <name>Horizon Aircraft Finance</name>
        <lei>549300KSCDSEIWTVMM32</lei>
        <title>Horizon Aircraft Finance IV Ltd</title>
        <cusip>43990EAA9</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-15</maturityDt>
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        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891AEA1</cusip>
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        <balance>3984000.00000000</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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          <annualizedRt>4.50000000</annualizedRt>
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        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891AEE3</cusip>
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        <balance>1885000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1854707.79000000</valUSD>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>529900PFHUFMSHU0UV97</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Sec Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JEFFERIES FIN GROUP INC</name>
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        <title>Jefferies Financial Group Inc</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>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JEFFERIES FIN GROUP INC</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group Inc</title>
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          <isin value="US47233WMK26"/>
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        <balance>2393000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JW Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>481948AA5</cusip>
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          <isin value="US481948AA54"/>
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        <balance>2960000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
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      <invstOrSec>
        <name>KAISER FOUNDATION HOSPIT</name>
        <lei>DW4Z57L3G4IRMHYZYK62</lei>
        <title>Kaiser Foundation Hospitals</title>
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          <isin value="US48305QAC78"/>
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        <balance>224000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222087.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KFW</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>Kreditanstalt fuer Wiederaufbau</title>
        <cusip>500769KD5</cusip>
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          <isin value="US500769KD52"/>
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        <balance>4539000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
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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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          <isin value="US50212YAD67"/>
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        <balance>1184000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LPL HOLDINGS INC</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>LPL HOLDINGS INC</name>
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        <name>Lendbuzz Securitization Trust</name>
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        <name>Lendbuzz Securitization Trust</name>
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        <name>Lendbuzz Securitization Trust</name>
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        <name>Lendbuzz Securitization Trust</name>
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        <name>LIBERTY MUTUAL GROUP INC</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group Inc</title>
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        <name>LIFEPOINT HEALTH INC</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health Inc</title>
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      <invstOrSec>
        <name>MAPS Trust</name>
        <lei>N/A</lei>
        <title>MAPS 2026-1 Trust</title>
        <cusip>55293WAA7</cusip>
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        <name>NYO Commercial Mortgage Trust</name>
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        <name>Navigator Aviation Ltd</name>
        <lei>984500UF8C3O89B30652</lei>
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        <name>NEDER WATERSCHAPSBANK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Neighborly Issuer LLC</name>
        <lei>N/A</lei>
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        <balance>4963750.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW ENGLAND POWER CO</name>
        <lei>549300DTVRGN9GYD5U85</lei>
        <title>New England Power Co</title>
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        <curCd>USD</curCd>
        <valUSD>505215.43000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>NRZ Excess Spread Collateralized Notes</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NRZ Excess Spread Collateralized Notes</name>
        <lei>N/A</lei>
        <title>NRZ Excess Spread-Collateralized Notes</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-25</maturityDt>
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        <name>NEXTERA ENERGY CAPITAL</name>
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        <title>NextEra Energy Capital Holdings Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-15</maturityDt>
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      <invstOrSec>
        <name>NextGear Floorplan Master Owner Trust</name>
        <lei>N/A</lei>
        <title>NextGear Floorplan Master Owner Trust</title>
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        <balance>1710000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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      <invstOrSec>
        <name>Willowbrook Mall</name>
        <lei>N/A</lei>
        <title>NJ 2025-WBRK</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NORTHERN STATES PWR-MINN</name>
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        <title>Northern States Power Co/MN</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NUVEEN LLC</name>
        <lei>N/A</lei>
        <title>Nuveen LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ORL TRUST</name>
        <lei>N/A</lei>
        <title>ORL Trust 2024-GLKS</title>
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        <name>Onslow Bay Financial LLC</name>
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        <title>OBX 2025-HE1 Trust</title>
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        <name>OAK-EAGLE ACQUIRECO INC</name>
        <lei>6488ICS9P20290MA1H31</lei>
        <title>OAK-Eagle Acquireco Inc</title>
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        <name>Octane Receivables Trust</name>
        <lei>N/A</lei>
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        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust 2022-S1</title>
        <cusip>68267HAA5</cusip>
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        <invCountry>US</invCountry>
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        <name>ORACLE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORACLE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORACLE CORP</name>
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        <title>Oracle Corp</title>
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          <isin value="US68389XCQ60"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORACLE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORACLE CORP</name>
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        <title>Oracle Corp</title>
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          <isin value="US68389XEA90"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OWENS CORNING</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>Owens Corning</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PK ALIFT LOAN FUNDING</name>
        <lei>N/A</lei>
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          <isin value="US69291NAA00"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PK ALIFT LOAN FUNDING</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>PFS Financing Corp.</name>
        <lei>N/A</lei>
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        <balance>4290000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC FINANCIAL SERVICES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pnmac Gmsr Issuer Trust</name>
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        <title>PNMAC GMSR ISSUER TRUST 2024-GT1</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Pnmac Gmsr Issuer Trust</name>
        <lei>5493007JEN3QN6CZC711</lei>
        <title>PNMAC GMSR ISSUER TRUST 2025-GT1</title>
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        <name>Pnmac Gmsr Issuer Trust</name>
        <lei>5493007JEN3QN6CZC711</lei>
        <title>PNMAC GMSR Issuer Trust</title>
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      <invstOrSec>
        <name>PENN Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>PENN Commercial Mortgage Trust 2025-P11</title>
        <cusip>69382VAA2</cusip>
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          <isin value="US69382VAA26"/>
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        <balance>2350000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-08-10</maturityDt>
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      <invstOrSec>
        <name>PEAC Solutions Receivables LLC</name>
        <lei>N/A</lei>
        <title>PEAC Solutions Receivables 2024-2 LLC</title>
        <cusip>69392BAB2</cusip>
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          <isin value="US69392BAB27"/>
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        <balance>335520.01000000</balance>
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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>2027-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PEAC Solutions Receivables LLC</name>
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        <name>Pagaya AI Debt Selection Trust</name>
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          <isin value="US716973AH54"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PFIZER INC</name>
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        <title>Pfizer Inc</title>
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        <name>PFIZER INC</name>
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        <title>Pfizer Inc</title>
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      <invstOrSec>
        <name>Planet Fitness Master Issuer LLC</name>
        <lei>549300NX9W3U2DO53T22</lei>
        <title>Planet Fitness Master Issuer LLC</title>
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          <isin value="US72703PAC77"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-05</maturityDt>
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      <invstOrSec>
        <name>Planet Fitness Master Issuer LLC</name>
        <lei>549300NX9W3U2DO53T22</lei>
        <title>Planet Fitness Master Issuer LLC</title>
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          <isin value="US72703PAF09"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-05</maturityDt>
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      <invstOrSec>
        <name>Post Road Equipment Finance</name>
        <lei>N/A</lei>
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        <cusip>737473AB4</cusip>
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          <isin value="US737473AB44"/>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRINCIPAL FINANCIAL GRP</name>
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      <invstOrSec>
        <name>PRMI Securitization Trust</name>
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        <name>Provident Funding Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Provident Funding Mortgage Trust</name>
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        <name>ROCKETMTGE CO-ISSUER INC</name>
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        <name>Radian Mortgage Capital Trust</name>
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        <name>RAYMOND JAMES FINANCIAL</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial Inc</title>
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        <name>Reach Financial LLC</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust 2024-2</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ROYAL BANK OF CANADA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Saluda Grade Alternative Mortgage Trust</name>
        <lei>213800ETGZN4SIG56R83</lei>
        <title>Saluda Grade Alternative Mortgage Trust 2025-LOC5</title>
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          <isin value="US79581XAB47"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAMMONS FINANCIAL GROUP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHARLES SCHWAB CORP</name>
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        <title>Charles Schwab Corp/The</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SDR Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SDR Commercial Mortgage Trust 2024-DSNY</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ServiceMaster Brands</name>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-01-30</maturityDt>
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      <invstOrSec>
        <name>Servpro Master Issuer, LLC</name>
        <lei>N/A</lei>
        <title>SERVPRO Master Issuer LLC</title>
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          <isin value="US817743AJ65"/>
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        <balance>2443750.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Servpro Master Issuer, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SHIFT4 PAYMENTS LLC/FIN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Receivables Funding Co LLC</name>
        <lei>N/A</lei>
        <title>Sierra Timeshare 2024-1 Receivables Funding LLC</title>
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        <name>DELTA AIR LINES/SKYMILES</name>
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        <name>SMITHFIELD FOODS INC</name>
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        <title>Smithfield Foods Inc</title>
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        <name>SOFI CONSUMER LOAN PROGRAM TRUST</name>
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        <title>SoFi Consumer Loan Program 2025-1 Trust</title>
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        <name>SMYRNA READY MIX CONCRET</name>
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        <title>Smyrna Ready Mix Concrete LLC</title>
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        <name>STELLANTIS FIN US INC</name>
        <lei>549300QZ0AI8Q7LNON33</lei>
        <title>Stellantis Finance US Inc</title>
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        <name>STELLANTIS FINANCIAL SER</name>
        <lei>5493000KNKFDOC1BOW59</lei>
        <title>Stellantis Financial Services US Corp</title>
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        <name>Tesla Lease Electric Vehicle Securitization LLC</name>
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        <name>Tricolor Auto Securitization Trust</name>
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        <name>TRUIST FINANCIAL CORP</name>
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        <name>Truist Bank Auto Credit-Linked Notes</name>
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        <name>UBS GROUP AG</name>
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        <name>HOUSING URBAN DEVELOPMNT</name>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
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            <expDate>2026-09-30</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>17233.50000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>5493008BJIBKQ5KTIF74</lei>
        <title>State Street Navigator Securities Lending Government Money Market Portfolio</title>
        <cusip>857509301</cusip>
        <identifiers>
          <isin value="US8575093013"/>
        </identifiers>
        <balance>3715532.50000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3715532.50000000</valUSD>
        <pctVal>0.313087448174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3715532.50000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Calvert Fund</ncom:nameOfApplicant>
      <ncom:signature>James Kirchner</ncom:signature>
      <ncom:signerName>James Kirchner</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
