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        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <couponKind>Variable</couponKind>
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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2019-C49</name>
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        <name>BBCMS Mortgage Trust 2022-C14</name>
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        <name>GS MTG SECS TR 2020-GC45</name>
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        <name>METRONET INFRASTRUCTURE ISSUER LLC</name>
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        <name>MORGAN STANLEY BK AMER MERRILL LYNCH TR 2012-C6</name>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Variable</couponKind>
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        <name>CREDIT SUISSE MORTGAGE TRUST 2021</name>
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        <name>WFRBS COML MTG TR 2011-C3</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>COMM 2017-COR2</name>
        <lei>N/A</lei>
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        <cusip>12595EAH8</cusip>
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          <isin value="US12595EAH80"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>VB-S1 ISSUER LLC</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US91823ABG58"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>BMO 2023-C4 MTG TR</name>
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        <cusip>05610CAK0</cusip>
        <identifiers>
          <isin value="US05610CAK09"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>BANK AMER MERRILL LYNCH COML MTG TR 2016-UBS10</name>
        <lei>N/A</lei>
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        <cusip>06054MAJ2</cusip>
        <identifiers>
          <isin value="US06054MAJ27"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03790000</annualizedRt>
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        <name>BX COMMERCIAL MORTGAGE TRUST 2021-SOAR</name>
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        <cusip>05608WAU8</cusip>
        <identifiers>
          <isin value="US05608WAU80"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.08228480</annualizedRt>
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        <name>BX COMMERCIAL MORTGAGE TRUST 2021-PAC</name>
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        <title>BX COMMERCIAL MORTGAGE TRUST 2021-PAC G TSFR1M+306.058 21 10/15/2036 144A</title>
        <cusip>05609PAS7</cusip>
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          <isin value="US05609PAS74"/>
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        <balance>3192000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3180057.45000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.07423580</annualizedRt>
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        <name>MORGAN STANLEY CAP I TR 2024-NSTB</name>
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        <cusip>61690BAL6</cusip>
        <identifiers>
          <isin value="US61690BAL62"/>
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        <balance>1928000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1833463.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.04262892</annualizedRt>
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      <invstOrSec>
        <name>BENCHMARK 2020-B21 MTG TR</name>
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        <cusip>08163LAQ2</cusip>
        <identifiers>
          <isin value="US08163LAQ23"/>
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        <balance>662000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576083.39000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02254300</annualizedRt>
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        <name>BARCLAYS COMMERCIAL MORTGAGE</name>
        <lei>N/A</lei>
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        <cusip>05492JAA0</cusip>
        <identifiers>
          <isin value="US05492JAA07"/>
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        <balance>726000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>598082.43000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
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        <name>BANK 2022-BNK42</name>
        <lei>N/A</lei>
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        <cusip>06541MAL8</cusip>
        <identifiers>
          <isin value="US06541MAL81"/>
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        <balance>1664000.00000000</balance>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
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        <name>AMERICOLD REALTY OPERATING PARTNERSHIP LP</name>
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        <cusip>03063UAA9</cusip>
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          <isin value="US03063UAA97"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BX TR 2022-LBA6</name>
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        <cusip>12433EAQ4</cusip>
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          <isin value="US12433EAQ44"/>
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        <curCd>USD</curCd>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>BX COMMERCIAL MORTGAGE TRUST 2021-SOAR</name>
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        <title>BX TRUST 2.9% 06/15/2023 144A</title>
        <cusip>05608WAS3</cusip>
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          <isin value="US05608WAS35"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.07278480</annualizedRt>
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        <name>NATIXIS COML MTG SECS TR 2019-10K</name>
        <lei>N/A</lei>
        <title>NCMS 2019-10K E VAR 05/15/2039 144A</title>
        <cusip>63874UAL8</cusip>
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          <isin value="US63874UAL89"/>
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          <couponKind>Variable</couponKind>
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        <name>BANK 2023-BNK46</name>
        <lei>N/A</lei>
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        <cusip>06541DBH6</cusip>
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          <isin value="US06541DBH61"/>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BX 2024-CNYN</name>
        <lei>N/A</lei>
        <title>BX 2024-CNYN E TSFR1M+368.86 04/05/2029 144A</title>
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          <isin value="US05612HAJ05"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>J P MORGAN CHASE COML MTG SECS TR 2013-LC11</name>
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        <name>J P MORGAN CHASE COML MTG SECS TR 2013-LC11</name>
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        <name>IP 2025-IP MTG TR</name>
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        <name>BBCMS MTG TR 2022-C16</name>
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        <name>PRM TR 2025-PRM6</name>
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        <name>INVITATION HOMES OPERATING PARTNERSHIP LP</name>
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        <name>NNN REIT INC</name>
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        <name>CONE TR 2024-DFW1</name>
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        <name>VASA TR 2021-VASA</name>
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        <name>MORGAN STANLEY CAPITAL I TRUST 2017-H1</name>
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          <couponKind>Variable</couponKind>
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        <name>COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR</name>
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          <couponKind>Fixed</couponKind>
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        <name>GS MTG SECS TR 2019-GC38</name>
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        <cusip>36252SAA5</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>HOME PARTNERS AMER 2021-1 TR</name>
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        <name>VDCM COMMERCIAL MORTGAGE TRUST 2025-AZ</name>
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        <name>WP GLIMCHER MALL TR 15-WPG</name>
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        <debtSec>
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        <name>CITIGROUP COML MTG TR 2020-420K</name>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
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        <name>COMM 2012-CCRE1 MTG TR</name>
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          <couponKind>Variable</couponKind>
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        <name>DBGS 2018-C1 MTG TR</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BENCHMARK 2019-B12 MTG TR</name>
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        <name>BX COMMERCIAL MORTGAGE TRUST 2024-GPA2</name>
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        <name>HOME PARTNERS AMER 2019-2 TR</name>
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        <name>COMMERCIAL MORTGAGE CD 2017-CD4 MTG TR</name>
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        <name>MPT OPER PARTNERSHIP LP / MPT FIN CORP</name>
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        <name>JPMCC COML MTG SECS TR 2016-JP4</name>
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        <name>OPEN TR 2023-AIR</name>
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        <name>INVITATION HOMES OPERATING PARTNERSHIP LP</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <cusip>31393DUM1</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <name>MSJP 2015-HAUL</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>J P MORGAN CHASE COML MTG SECS TR 2024-OMNI</name>
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        <identifiers>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <cusip>95000KBH7</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <lei>N/A</lei>
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          <isin value="US065404BE40"/>
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        <name>BANK AMER MERRILL LYNCH COML MTG TR 2016-UBS10</name>
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        <cusip>06054MAK9</cusip>
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          <couponKind>Variable</couponKind>
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          <isin value="US05609BAR06"/>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.07478480</annualizedRt>
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        <name>WHARF 2025-DC E</name>
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        <name>J P MORGAN CHASE COML MTG SECS TR 2020-NNN</name>
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        <name>BMO 2024-C10 MTG TR</name>
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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>
      <invstOrSec>
        <name>J P MORGAN CHASE COML MTG SECS TR 2014-DSTY</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>ESSEX PORTFOLIO LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WFRBS COML MTG TR 2011-C4</name>
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          <isin value="US92936CAW91"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>CITIGROUP COML MTG TR 2023-PRM3</name>
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        <cusip>17331LAG2</cusip>
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          <isin value="US17331LAG23"/>
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        <curCd>USD</curCd>
        <valUSD>1400032.47000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.06571721</annualizedRt>
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        <name>SREIT TR 2021-PALM</name>
        <lei>N/A</lei>
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        <cusip>85237AAN3</cusip>
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        <debtSec>
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        <name>AMERICAN HOMES 4 RENT LP</name>
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        <cusip>02666TAG2</cusip>
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          <isin value="US02666TAG22"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MSWF COML MTG TR 2023-1</name>
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        <cusip>55376CAJ2</cusip>
        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMDB COML MTG SECS TR 2018-C8</name>
        <lei>N/A</lei>
        <title>JPMDB COML MTG SECS TR 2018-C8 CSTR 06/15/2051 144A</title>
        <cusip>46591AAG0</cusip>
        <identifiers>
          <isin value="US46591AAG04"/>
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        <balance>1171000.00000000</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>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BENCHMARK 2018-B7 MTG TR</name>
        <lei>N/A</lei>
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        <cusip>08162TAG8</cusip>
        <identifiers>
          <isin value="US08162TAG85"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>BMO 2023-C5 MTG TR</name>
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        <cusip>055988AD1</cusip>
        <identifiers>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HOME PARTNERS AMER 2021-2 TR</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BX 2025-LUNR A</name>
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        <cusip>05594CAN4</cusip>
        <identifiers>
          <isin value="US05594CAN48"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.08313100</annualizedRt>
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        <name>BBCMS MTG TR 2024-C24</name>
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        <cusip>07336VAX9</cusip>
        <identifiers>
          <isin value="US07336VAX91"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05718000</annualizedRt>
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        <name>DTP COML MTG TR 2023-STE2</name>
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        <cusip>23346GAJ8</cusip>
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          <isin value="US23346GAJ85"/>
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          <couponKind>Variable</couponKind>
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        <name>BENCHMARK 2022-B37 MTG TR</name>
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        <cusip>08161QAK6</cusip>
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        <name>BPR COML MTG TR 2024-PK</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>BX TRUST 2024-FNX</name>
        <lei>N/A</lei>
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        <name>BX COML MTG TR 2024-XL5</name>
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        <name>LBA TR 2024-BOLT</name>
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        <name>CAPITAL TR RE CDO 05-1 LTD COR</name>
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        <name>CITIGROUP COML MTG TR 2022-GC48</name>
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        <name>CSMC 2019-UVIL</name>
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        <name>CITIGROUP COML MTG TR 2020-420K</name>
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        <lei>N/A</lei>
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        <name>BENCHMARK 2023-B39 C MTG TR</name>
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        <name>EQT TR 2024-EXTR</name>
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        <name>BX 2024 VLT4</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>MHC TR 2021-MHC2</name>
        <lei>N/A</lei>
        <title>MHC TR 2021-MHC2 TSFR1M+251.448 05/15/2023 144A</title>
        <cusip>55293AAQ0</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>MORGAN STANLEY CAP I TR 2015-MS1</name>
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        <cusip>61765DAC2</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>BX COML MTG TR 2024-VLT5</name>
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        <cusip>05614JAC9</cusip>
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        <name>CD 2017-CD3 MTG TR</name>
        <lei>N/A</lei>
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        <name>BBCMS MORTGAGE TRUST 2023-C21</name>
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        <name>UBS COML MTG TR 2012-C1</name>
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        <name>CREST DARTMOUTH STR 03 1 LTD</name>
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        <invCountry>KY</invCountry>
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        <name>PRM5 TR 2025-PRM5</name>
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        <name>BANK 2022-BNK42</name>
        <lei>N/A</lei>
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        <name>COMM 2014-CCRE17 MTG TR</name>
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        <name>GS MTG SECS TR 2020-GC47</name>
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        <curCd>USD</curCd>
        <valUSD>465413.42000000</valUSD>
        <pctVal>0.064932406267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.03094020</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK 2022-BNK42</name>
        <lei>N/A</lei>
        <title>BANK 2022-BNK42 E 2.5% 06/15/2055 144A</title>
        <cusip>06541MAN4</cusip>
        <identifiers>
          <isin value="US06541MAN48"/>
        </identifiers>
        <balance>1302000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>898080.80000000</valUSD>
        <pctVal>0.125296230966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.02500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STWD TR 2021-LIH</name>
        <lei>N/A</lei>
        <title>STWD TR 2021-LIH TSFR1M+359.8 1 11/15/2036 144A</title>
        <cusip>78486EAS7</cusip>
        <identifiers>
          <isin value="US78486EAS72"/>
        </identifiers>
        <balance>4149000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4141236.39000000</valUSD>
        <pctVal>0.577766845930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.08029000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BMO 2022-C1 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BMO 2022-C1 MORTGAGE TRUST 3.374% 02/15/2055</title>
        <cusip>05609MCC7</cusip>
        <identifiers>
          <isin value="US05609MCC73"/>
        </identifiers>
        <balance>3142000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2907156.87000000</valUSD>
        <pctVal>0.405593570910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03374000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX COML MTG TR 2024-WPT</name>
        <lei>N/A</lei>
        <title>BX COML MTG TR 2024-WPT TSFR1M+358.84 03/15/2034 144A</title>
        <cusip>05612JAJ6</cusip>
        <identifiers>
          <isin value="US05612JAJ60"/>
        </identifiers>
        <balance>1402250.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1393411.48000000</valUSD>
        <pctVal>0.194402560024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.07951500</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK 2022-BNK43</name>
        <lei>N/A</lei>
        <title>BANK 2022-BNK43 D 3% 08/15/2055 144A</title>
        <cusip>06541QAC9</cusip>
        <identifiers>
          <isin value="US06541QAC96"/>
        </identifiers>
        <balance>2614000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1913905.97000000</valUSD>
        <pctVal>0.267019631713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.03000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BX TRUST 2024-FNX</name>
        <lei>N/A</lei>
        <title>BX TRUST 2024-FNX TSFR1M+393.874 11/15/2026 144A</title>
        <cusip>05593TAN8</cusip>
        <identifiers>
          <isin value="US05593TAN81"/>
        </identifiers>
        <balance>4813939.19000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4799802.58000000</valUSD>
        <pctVal>0.669647065893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.08301840</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBCMS MTG TR 2025-5C33</name>
        <lei>N/A</lei>
        <title>BBCMS MTG TR 2025-5C33 C 6.025% 03/15/2058</title>
        <cusip>072924AG8</cusip>
        <identifiers>
          <isin value="US072924AG87"/>
        </identifiers>
        <balance>1063000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1081344.51000000</valUSD>
        <pctVal>0.150864367080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05981000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RETAINED VANTAGE DATA CTRS ISSUER LLC / VANTAGE DATA CTRS CDA QC4 LTD PARTNERSHIP</name>
        <lei>N/A</lei>
        <title>RETAINED VANTAGE DATA CTRS ISSUER LLC / VANTAGE DATA CTRS CDA QC4 LTD PARTNERSHIP 6% 09/15/2049 144A</title>
        <cusip>76134KAJ3</cusip>
        <identifiers>
          <isin value="US76134KAJ34"/>
        </identifiers>
        <balance>1345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1355930.14000000</valUSD>
        <pctVal>0.189173330501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.05775000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NCMF TR 2025-MFS</name>
        <lei>N/A</lei>
        <title>NCMF TR 2025-MFS F VAR 06/10/2033 144A</title>
        <cusip>62887TAL8</cusip>
        <identifiers>
          <isin value="US62887TAL89"/>
        </identifiers>
        <balance>2115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2157257.70000000</valUSD>
        <pctVal>0.300970980598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.08718233</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMM 2015-LC19 MTG TR</name>
        <lei>N/A</lei>
        <title>COMM 2015-LC19 C MTG TR CSTR 02/10/2048</title>
        <cusip>200474BH6</cusip>
        <identifiers>
          <isin value="US200474BH60"/>
        </identifiers>
        <balance>3842000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3617820.07000000</valUSD>
        <pctVal>0.504742133541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.04241103</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS COMMERCIAL MORTGAGE TRUST 2018-C8</name>
        <lei>N/A</lei>
        <title>UBS COMMERCIAL MORTGAGE TRUST 2018-C8 CSTR 02/15/2051</title>
        <cusip>90276VAK5</cusip>
        <identifiers>
          <isin value="US90276VAK52"/>
        </identifiers>
        <balance>756000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>695977.08000000</valUSD>
        <pctVal>0.097099620616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.04838276</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MSWF COML MTG TR 2023-1</name>
        <lei>N/A</lei>
        <title>MSWF COML MTG TR 2023-1 6.90553% 05/15/2056</title>
        <cusip>55376CBB8</cusip>
        <identifiers>
          <isin value="US55376CBB81"/>
        </identifiers>
        <balance>1266000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1327911.45000000</valUSD>
        <pctVal>0.185264287736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.06905600</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KRE COML MTG TR 2025-AIP4</name>
        <lei>N/A</lei>
        <title>KRE COML MTG TR 2025-AIP4 E TSFR1M+300 03/15/2030 144A</title>
        <cusip>50077KAJ7</cusip>
        <identifiers>
          <isin value="US50077KAJ79"/>
        </identifiers>
        <balance>2527000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2516231.19000000</valUSD>
        <pctVal>0.351053362176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.07363100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="As of March 2025, 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>2025-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Stacie M. Smith</ncom:nameOfApplicant>
      <ncom:signature>Stacie M. Smith</ncom:signature>
      <ncom:signerName>Stacie M. Smith</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
