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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Garda World Security Corp.</name>
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        <name>Sonic Automotive, Inc.</name>
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        <name>Owens &amp; Minor, Inc.</name>
        <lei>549300LMT5KQQXCEZ733</lei>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>TotalEnergies Capital International SA</name>
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        <name>FNMA</name>
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        <name>Corp. Nacional del Cobre de Chile</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>FNMA</name>
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        <name>Sensata Technologies BV</name>
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        <name>NatWest Markets plc</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREMF Mortgage Trust</name>
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        <name>KeyCorp</name>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <name>Cars Net Lease Mortgage Notes</name>
        <lei>N/A</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Encino Acquisition Partners Holdings LLC</name>
        <lei>549300BUKUEKT2UE4T49</lei>
        <title>Encino Acquisition Partners Holdings LLC</title>
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        <balance>1961000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF 2019-KC07 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-KC07, Class C</title>
        <cusip>302988AN0</cusip>
        <identifiers>
          <isin value="US302988AN09"/>
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        <balance>27300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22298609.97000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NMG, Inc.</name>
        <lei>N/A</lei>
        <title>NMG, Inc.</title>
        <cusip>62929P102</cusip>
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          <isin value="US62929P1021"/>
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        <balance>1620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>223187.40000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
        <title>Merrill Lynch Mortgage Investors Trust, Series 2004-D, Class A3</title>
        <cusip>59020UGH2</cusip>
        <identifiers>
          <isin value="US59020UGH23"/>
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        <balance>10603.56170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10270.18000000</valUSD>
        <pctVal>0.000045066215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.24223800</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2013-H04, Class BA</title>
        <cusip>38375BK84</cusip>
        <identifiers>
          <isin value="US38375BK843"/>
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        <balance>5383.58750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5047.76000000</valUSD>
        <pctVal>0.000022149897</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HB</title>
        <cusip>35563PBG3</cusip>
        <identifiers>
          <isin value="US35563PBG37"/>
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        <balance>12000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9569468.40000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>31296MMQ9</cusip>
        <identifiers>
          <isin value="US31296MMQ95"/>
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        <balance>13924.41000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13541.32000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738ECU7</cusip>
        <identifiers>
          <isin value="US06738ECU73"/>
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        <balance>26660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26613597.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.94200000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Standard Industries, Inc.</name>
        <lei>N/A</lei>
        <title>Standard Industries, Inc.</title>
        <cusip>853496AG2</cusip>
        <identifiers>
          <isin value="US853496AG21"/>
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        <balance>6254000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5869472.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Biogen, Inc.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>Biogen, Inc.</title>
        <cusip>09062XAH6</cusip>
        <identifiers>
          <isin value="US09062XAH61"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8870018.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hungary</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>445545AQ9</cusip>
        <identifiers>
          <isin value="US445545AQ90"/>
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        <balance>1640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1588241.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RMZ2</cusip>
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          <isin value="US00206RMZ28"/>
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        <balance>8370000.00000000</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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          <maturityDt>2056-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC Trust, Whole Loan, Series 2002-W10</title>
        <cusip>31392ET34</cusip>
        <identifiers>
          <isin value="US31392ET345"/>
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        <balance>1103214.99010000</balance>
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        <curCd>USD</curCd>
        <valUSD>40951.34000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.90151920</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3138W9GY0</cusip>
        <identifiers>
          <isin value="US3138W9GY09"/>
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        <balance>4203385.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3878845.97000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3292, Class DO</title>
        <cusip>31397FRF1</cusip>
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          <isin value="US31397FRF17"/>
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        <balance>25988.39000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22898.08000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Constellation Energy Generation LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
        <title>Constellation Energy Generation LLC</title>
        <cusip>30161MAN3</cusip>
        <identifiers>
          <isin value="US30161MAN39"/>
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        <balance>4293000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4116488.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140HPKE6</cusip>
        <identifiers>
          <isin value="US3140HPKE66"/>
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        <balance>2253665.16000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2244261.31000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
        <cusip>05605HAB6</cusip>
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          <isin value="US05605HAB69"/>
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        <balance>675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>656891.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JWVW7</cusip>
        <identifiers>
          <isin value="US3140JWVW78"/>
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        <balance>2863686.27000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2568636.35000000</valUSD>
        <pctVal>0.011271342704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nexstar Media, Inc.</name>
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        <name>Accenture Capital, Inc.</name>
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        <name>Norfolk Southern Corp.</name>
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        <name>NorthRiver Midstream Finance LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Home RE Ltd.</name>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-25</maturityDt>
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        <name>Adient Global Holdings Ltd.</name>
        <lei>213800VA38VCKE6M8790</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140GVND3</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Morgan Stanley</name>
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        <name>PetSmart, Inc.</name>
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        <name>Gulfport Energy Corp.</name>
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        <name>FNMA</name>
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        <cusip>3140HAEL0</cusip>
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        <name>Bastion Funding LLC</name>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <name>FHLMC</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Carnival Corp.</name>
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        <name>RFT TRUST</name>
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        <name>GNMA</name>
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        <name>Matador Resources Co.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Central American Bottling Corp.</name>
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        <name>Hess Midstream Operations LP</name>
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        <name>FHLMC</name>
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        <name>Xerox Holdings Corp.</name>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
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        <title>Realty Income Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Sensata Technologies, Inc.</name>
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        <title>Sensata Technologies, Inc.</title>
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      <invstOrSec>
        <name>NCR Voyix Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cascade MH Asset Trust</name>
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          <maturityDt>2046-02-25</maturityDt>
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        <name>Glencore Finance Canada Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>NRM FHT1 Excess Owner LLC</name>
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        <name>Flex Intermediate Holdco LLC</name>
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        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Republic of South Africa</name>
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        <invCountry>ZA</invCountry>
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        <name>MFA Trust</name>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>68377GAC0</cusip>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U3E1</cusip>
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        <balance>8999000.00000000</balance>
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        <name>Rcfii Baml Frn</name>
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        <name>FNMA</name>
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        <name>Amgen, Inc.</name>
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        <name>Paraguay Government International Bond</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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        <name>Duke Energy Carolinas LLC</name>
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        <name>Standard Chartered plc</name>
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        <name>Goodgreen Trust</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>FREMF 2019-K92 Mortgage Trust</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>Federation des Caisses Desjardins du Quebec</name>
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        <name>Bank of America Corp.</name>
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        <name>NiSource, Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>FNMA</name>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
        <title>Coterra Energy, Inc.</title>
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        <name>CoreVest American Finance Trust</name>
        <lei>N/A</lei>
        <title>CoreVest American Finance Trust, Series 2020-2, Class A</title>
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        <name>NNN REIT, Inc.</name>
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        <name>FHLMC</name>
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        <name>UBS Group AG</name>
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        <name>Tucson Electric Power Co.</name>
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      <invstOrSec>
        <name>BMD2 Re-REMIC Trust</name>
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        <name>LYB International Finance III LLC</name>
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        <name>Block, Inc.</name>
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        <name>Northrop Grumman Corp.</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>HERO Funding Trust</name>
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        <name>FREMF 2018-K081 Mortgage Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Piedmont Natural Gas Co., Inc.</name>
        <lei>VXB4M3BDPKF3I2AZ3G89</lei>
        <title>Piedmont Natural Gas Co., Inc.</title>
        <cusip>720186AL9</cusip>
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        <name>FNMA</name>
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        <name>FMC GMSR Issuer Trust</name>
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        <name>Alumina Pty. Ltd.</name>
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        <name>US Auto Funding</name>
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        <name>Central Garden &amp; Pet Co.</name>
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        <title>Central Garden &amp; Pet Co.</title>
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        <name>GNMA</name>
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        <name>Petroleos Mexicanos</name>
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        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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        <balance>5750000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>Republic of Iraq</name>
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        <name>FNMA</name>
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        <name>Structured Asset Securities Corp. Mortgage Pass-Through Certificates</name>
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        <name>GNMA</name>
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        <name>GNMA</name>
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        <name>Turkiye Varlik Fonu Yonetimi A/S</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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      <invstOrSec>
        <name>Albertsons Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Albertsons Cos., Inc.</title>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>Exelon Corp.</name>
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        <name>FHLMC</name>
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        <name>Asbury Automotive Group, Inc.</name>
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        <name>BP Capital Markets plc</name>
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        <name>PG&amp;E Wildfire Recovery Funding LLC</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>JBS USA Holding Lux SARL</name>
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        <name>American Homes 4 Rent Trust</name>
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        <name>Republic of Paraguay</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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        <name>FHLMC</name>
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        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>FNMA</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Allianz SE</name>
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        <name>LL ABS Trust</name>
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        <name>Purewest ABS Issuer LLC</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140GVNF8</cusip>
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        <balance>780512.44000000</balance>
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      <invstOrSec>
        <name>Jonah</name>
        <lei>N/A</lei>
        <title>Jonah</title>
        <cusip>N/A</cusip>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <title>FHLMC UMBS, 30 Year</title>
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        <payoffProfile>Long</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30298XAG07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3132QWN62</cusip>
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          <isin value="US3132QWN626"/>
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        <balance>649666.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2020-K116 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K116, Class X2B</title>
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          <isin value="US30316LAQ23"/>
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        <balance>223000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2019-1, Class AA</title>
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          <isin value="US90931CAA62"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFA8</cusip>
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          <isin value="US61747YFA82"/>
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        <balance>6014000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>LP LMS Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>LP LMS Asset Securitization Trust, Series 2021-2A, Class C</title>
        <cusip>50214JAC9</cusip>
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          <isin value="US50214JAC99"/>
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        <balance>7400709.47000000</balance>
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      <invstOrSec>
        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>Parker-Hannifin Corp.</title>
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          <isin value="US70109HAJ41"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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      <invstOrSec>
        <name>FREMF 2020-K116 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K116, Class X2A</title>
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          <isin value="US30316LAN91"/>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140F8Q26</cusip>
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          <isin value="US3140F8Q263"/>
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        <balance>766924.21000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2019-H09, Class FA</title>
        <cusip>38380LTJ2</cusip>
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          <isin value="US38380LTJ25"/>
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        <balance>6742165.39000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558BT9</cusip>
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          <isin value="US375558BT99"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36202CWE9</cusip>
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        <balance>1342.50000000</balance>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>FNMA</name>
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        <name>DH Europe Finance II SARL</name>
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        <name>Macquarie Group Ltd.</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Big River Steel LLC</name>
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        <name>GNMA</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Deutsche Bank AG</name>
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        <name>FREMF 2018-K83 Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Accelerated LLC</name>
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        <name>United States of America</name>
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        <name>Hyundai Capital America</name>
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        <name>FirstKey Homes Trust</name>
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        <name>New Century Home Equity Loan Trust</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>UBS Group AG</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Wyeth LLC</name>
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        <title>Wyeth LLC</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FHLMC</name>
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        <cusip>31393QXU1</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
        <cusip>95081QAR5</cusip>
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        <balance>2110000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676BA2</cusip>
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        <balance>33640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33513815.01000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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        <name>ABL</name>
        <lei>N/A</lei>
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        <balance>9350000.00000000</balance>
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        <valUSD>9354091.56000000</valUSD>
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        <invCountry>US</invCountry>
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          <annualizedRt>6.07500000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2008-49, Class PH</title>
        <cusip>38375XGS7</cusip>
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          <isin value="US38375XGS71"/>
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        <balance>404981.37110000</balance>
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        <curCd>USD</curCd>
        <valUSD>405529.43000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>31381BDB2</cusip>
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        <balance>621.57000000</balance>
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        <curCd>USD</curCd>
        <valUSD>623.08000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
        <cusip>432833AF8</cusip>
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        <balance>2112000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36202FYP5</cusip>
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          <isin value="US36202FYP51"/>
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        <balance>82886.57000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86737.65000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DE6</cusip>
        <identifiers>
          <isin value="US718172DE67"/>
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        <name>Penske Truck Leasing Co. LP</name>
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        <name>Credit One Ltd.</name>
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        <name>FNMA</name>
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        <name>Comcast Corp.</name>
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        <name>South Bow USA Infrastructure Holdings LLC</name>
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        <name>AbbVie, Inc.</name>
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        <name>Credit Agricole SA</name>
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        <name>RFT TRUST</name>
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        <name>FHLMC</name>
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        <name>Carvana Auto Receivables Trust</name>
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        <name>Newell Brands, Inc.</name>
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        <name>Hyundai Capital America</name>
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        <name>Petroleos Mexicanos</name>
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        <name>National Grid plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Take-Two Interactive Software, Inc.</name>
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        <name>Gilead Sciences, Inc.</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>LFT CRE Ltd.</name>
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        <name>FMC GMSR Issuer Trust</name>
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        <name>DNB Bank ASA</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>JPMorgan Mortgage Trust</name>
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        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2004-105, Class SN</title>
        <cusip>38374KGQ0</cusip>
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        <name>FNMA</name>
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        <name>RHP Hotel Properties LP</name>
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        <name>Rite Aid Corp.</name>
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        <name>Apple, Inc.</name>
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        <name>FNMA</name>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>FREMF 2020-K107 Mortgage Trust</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>TC Ziraat Bankasi A/S</name>
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        <name>American Airlines Pass-Through Trust</name>
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        <name>Capital One Financial Corp.</name>
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        <title>Capital One Financial Corp.</title>
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        <name>South Bow USA Infrastructure Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BPCE SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VistaJet Pass Through Trust</name>
        <lei>N/A</lei>
        <title>VistaJet Pass Through Trust, Series 2021-1C</title>
        <cusip>92841QAA0</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>Ford Motor Credit Co. LLC</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140LV6B0</cusip>
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          <isin value="US3140LV6B01"/>
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        <balance>5419011.49000000</balance>
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        <name>Baltimore Gas and Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
        <title>Baltimore Gas and Electric Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, STRIPS, Series 383, Class 86</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Triad Properties Corp.</name>
        <lei>N/A</lei>
        <title>Triad Properties Corp.</title>
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          <other otherDesc="Inhouse Sedol" value="O2CF92E"/>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
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        <curCd>USD</curCd>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3005, Class ED</title>
        <cusip>31395WHN0</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Pagaya AI Technology in Housing Trust</name>
        <lei>N/A</lei>
        <title>Pagaya AI Technology in Housing Trust, Series 2023-1, Class E1</title>
        <cusip>69547YAJ9</cusip>
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        <balance>26822000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>NW Re-REMIC TRUST</name>
        <lei>N/A</lei>
        <title>NW Re-REMIC TRUST, Series 2021-FRR1, Class BK88</title>
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          <isin value="US62955LAC28"/>
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        <balance>8882314.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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          <couponKind>Variable</couponKind>
          <annualizedRt>2.62294920</annualizedRt>
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        <name>Alabama Power Co.</name>
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        <name>FNMA</name>
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        <name>Lendmark Funding Trust</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>FREMF 2023-K752 Mortgage Trust</name>
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        <name>Sunoco LP</name>
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        <name>FHLMC</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
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        <name>MASTR Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>FHLMC</name>
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        <name>Dycom Industries, Inc.</name>
        <lei>549300F56EKTHQI3WT60</lei>
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        <name>Ohio Power Co.</name>
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        <name>Oncor Electric Delivery Co. LLC</name>
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        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
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        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <name>Iron Mountain, Inc.</name>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <name>Ford Foundation (The)</name>
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        <name>Northern States Power Co.</name>
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        <name>Lithia Motors, Inc.</name>
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        <name>Live Nation Entertainment, Inc.</name>
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        <name>OneSky Loan Trust</name>
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        <name>GNMA</name>
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        <name>Bank of America Corp.</name>
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        <name>Grene Energy Senio</name>
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        <name>State Street Corp.</name>
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        <name>Clarivate Science Holdings Corp.</name>
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        <title>Clarivate Science Holdings Corp.</title>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FREMF 2019-KW10 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>FHLMC</name>
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        <name>Duke Energy Ohio, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140HKS90</cusip>
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        <name>Carpenter Technology Corp.</name>
        <lei>DX6I6ZD3X5WNNCDJKP85</lei>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
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        <name>Diamondback Energy, Inc.</name>
        <lei>549300R22LSX6OHWEN64</lei>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>AAdvantage Loyalty IP Ltd.</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QQD69</cusip>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMSR Trust</name>
        <lei>N/A</lei>
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        <balance>7645000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York Life Insurance Co.</name>
        <lei>TAE73CY392TBWJ3O3305</lei>
        <title>New York Life Insurance Co.</title>
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          <isin value="US64952GAF54"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <cusip>3137F1G44</cusip>
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          <isin value="US3137F1G447"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Cigna Group (The)</name>
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        <title>Cigna Group (The)</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RBQ4</cusip>
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        <balance>3000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3138LDUX9</cusip>
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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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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Grantor Trust, Whole Loan, Series 2002-T19, Class A1</title>
        <cusip>31392GVP7</cusip>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2009-112, Class ST</title>
        <cusip>31398GKH1</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>JPMorgan Securities Lending Money Market Fund</name>
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        <title>JPMorgan Securities Lending Money Market Fund, Class Agency SL Shares</title>
        <cusip>46645V642</cusip>
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          <isin value="N/A"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4030, Class IL</title>
        <cusip>3137APLG3</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREMF 2018-K1505 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K155, Class C</title>
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        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Grantor Trust, Whole Loan, Series 2002-T4, Class A4</title>
        <cusip>31392B6W1</cusip>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 20 Year</title>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Elara HGV Timeshare Issuer LLC</name>
        <lei>N/A</lei>
        <title>Elara HGV Timeshare Issuer LLC, Series 2021-A, Class D</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
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        <title>United Airlines Pass-Through Trust, Series 2018-1, Class A</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2008-91, Class SI</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kinetik Holdings LP</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wynn Resorts Finance LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Service Co. of Oklahoma</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILFC E-Capital Trust II</name>
        <lei>N/A</lei>
        <title>ILFC E-Capital Trust II</title>
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          <isin value="US44965UAA25"/>
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        <balance>1015000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>SN</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <curCd>USD</curCd>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FMC GMSR Issuer Trust</name>
        <lei>N/A</lei>
        <title>FMC GMSR Issuer Trust, Series 2020-GT1, Class A</title>
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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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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <balance>8070204.24000000</balance>
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        <name>ICITII</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <balance>29307143.44000000</balance>
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          <couponKind>Variable</couponKind>
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        <name>Elanco Animal Health, Inc.</name>
        <lei>N/A</lei>
        <title>Elanco Animal Health, Inc., 1st Lien Term Loan</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC Trust, Whole Loan, Series 2002-W7, Class 1</title>
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        <balance>2000535.03200000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
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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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      <invstOrSec>
        <name>DISH Network Corp.</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH Network Corp.</title>
        <cusip>25470MAG4</cusip>
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          <isin value="US25470MAG42"/>
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        <balance>4607000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4753092.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Pioneer Natural Resources Co.</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Comision Federal de Electricidad</name>
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        <name>Texas Instruments, Inc.</name>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dominican Republic</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Varsity Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of Nova Scotia (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3138WTR578"/>
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        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-14</maturityDt>
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        <name>Meta Platforms, Inc.</name>
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        <title>Meta Platforms, Inc.</title>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <title>Hilton Domestic Operating Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MYT Holding LLC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>3</fairValLevel>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA/FHLMC</name>
        <lei>N/A</lei>
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        <name>Morgan Stanley Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Mortgage Loan Trust, Series 2004-7AR, Class 2A6</title>
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        <name>RTX Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX Corp.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3620ASDP1</cusip>
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          <isin value="US3620ASDP16"/>
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        <balance>99521.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101218.25000000</valUSD>
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        <issuerCat>USGA</issuerCat>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
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        <balance>930000.00000000</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>2033-03-15</maturityDt>
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          <annualizedRt>6.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FNMA</name>
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        <name>Bank of America Corp.</name>
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        <name>Atmos Energy Corp.</name>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>NRG Energy, Inc.</name>
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        <name>Mizuho Financial Group, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>NCR Voyix Corp.</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Iridium Satellite LLC</name>
        <lei>254900615BJ7139TFM33</lei>
        <title>Iridium Satellite LLC, 1st Lien Term Loan B</title>
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        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Alternative Loan Trust</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>USI, Inc.</name>
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        <name>BAMLL Re-REMIC Trust</name>
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        <name>Oracle Corp.</name>
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        <name>FREMF 2020-K739 Mortgage Trust</name>
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        <name>FHLMC</name>
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        <name>Citigroup, Inc.</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3409, Class DB</title>
        <cusip>31397PRY8</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <name>Ventas Realty LP</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>Ventas Realty LP</title>
        <cusip>92277GAG2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rocket Mortgage LLC</name>
        <lei>N/A</lei>
        <title>Rocket Mortgage LLC</title>
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          <isin value="US77313LAA17"/>
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        <curCd>USD</curCd>
        <valUSD>2844308.57000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Service Corp. International</name>
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        <title>Service Corp. International</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XGCN7</cusip>
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          <isin value="US3140XGCN74"/>
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        <balance>5629749.86000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Student Bidco, Inc.</name>
        <lei>N/A</lei>
        <title>First Student Bidco, Inc., 1st Lien Term Loan B</title>
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          <isin value="US33718FAK66"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Embarq LLC</name>
        <lei>N/A</lei>
        <title>Embarq LLC</title>
        <cusip>29078EAA3</cusip>
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          <isin value="US29078EAA38"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.99500000</annualizedRt>
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      <invstOrSec>
        <name>LendingPoint Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>LendingPoint Asset Securitization Trust, Series 2020-REV1, Class C</title>
        <cusip>52606YAC8</cusip>
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          <isin value="US52606YAC84"/>
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        <balance>3159337.34000000</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>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.69900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WP Carey, Inc.</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WP Carey, Inc.</title>
        <cusip>92936UAH2</cusip>
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          <isin value="US92936UAH23"/>
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        <balance>2796000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
        <cusip>91324PDF6</cusip>
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          <isin value="US91324PDF62"/>
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        <balance>1088000.00000000</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>2047-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JGHL2</cusip>
        <identifiers>
          <isin value="US3140JGHL20"/>
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        <balance>1173135.80000000</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>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2020-SFR2, Class F2</title>
        <cusip>33767JAN2</cusip>
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          <isin value="US33767JAN28"/>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.11700000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36179WXL7</cusip>
        <identifiers>
          <isin value="US36179WXL70"/>
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        <balance>7536247.79000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co.</title>
        <cusip>250847EK2</cusip>
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          <isin value="US250847EK26"/>
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        <balance>370000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-KW06, Class X2B</title>
        <cusip>30306WAL1</cusip>
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          <isin value="US30306WAL19"/>
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          <maturityDt>2028-06-25</maturityDt>
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          <annualizedRt>0.10000000</annualizedRt>
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      <invstOrSec>
        <name>CSFB Mortgage-Backed Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-10, Class 10A4</title>
        <cusip>225470FN8</cusip>
        <identifiers>
          <isin value="US225470FN85"/>
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        <balance>194141.58520000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Primo Brands Corp.</name>
        <lei>N/A</lei>
        <title>Primo Brands Corp., 1st Lien Term Loan</title>
        <cusip>89678QAD8</cusip>
        <identifiers>
          <isin value="US89678QAD88"/>
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        <balance>7619479.74790000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.54917000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XDGD2</cusip>
        <identifiers>
          <isin value="US3140XDGD26"/>
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        <balance>10233203.54000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8407958.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>94974BGL8</cusip>
        <identifiers>
          <isin value="US94974BGL80"/>
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        <balance>168000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167226.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Arab Republic of Egypt</name>
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        <name>FREMF 2018-K082 Mortgage Trust</name>
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        <name>GNMA</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>MASTR Alternative Loan Trust</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Jersey Central Power &amp; Light Co.</name>
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        <name>Bank of Ireland Group plc</name>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>GTP Acquisition Partners I LLC</name>
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        <name>Venture Global Calcasieu Pass LLC</name>
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        <name>Genesis Energy LP</name>
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        <title>Genesis Energy LP</title>
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        <name>Street Capital Group, Inc.</name>
        <lei>N/A</lei>
        <title>Street Capital Group, Inc.</title>
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        <invCountry>CA</invCountry>
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        <name>TotalEnergies Capital SA</name>
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        <name>Federative Republic of Brazil</name>
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        <name>Mississippi Power Co.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Community Health Systems, Inc.</name>
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        <name>Enel Finance International NV</name>
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        <name>UBS Group AG</name>
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        <name>Citigroup, Inc.</name>
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        <name>DTE Electric Securitization Funding II LLC</name>
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        <name>UBS Group AG</name>
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        <name>FNMA</name>
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        <name>Calpine Corp.</name>
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        <name>Brooklyn Union Gas Co. (The)</name>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <name>FNMA</name>
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        <name>AMSR Trust</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>BPCE SA</name>
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        <invCountry>FR</invCountry>
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        <name>Lehman Brothers Holdings, Inc.</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-17</maturityDt>
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          <annualizedRt>5.19199920</annualizedRt>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <title>Cleveland-Cliffs, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Encompass Health Corp.</name>
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        <title>Encompass Health Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3136FFGZ6</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <name>Northwestern Mutual Global Funding</name>
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        <name>Ventas Realty LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137GAU39</cusip>
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        <valUSD>1855.45000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Alternative Loan Trust</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2033-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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        <name>Republic of Colombia</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>BAE Systems plc</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
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        <invCountry>GB</invCountry>
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        <name>US Bancorp</name>
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        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
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        <name>GNMA</name>
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        <name>Royal Bank of Canada</name>
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        <name>Air Canada Pass-Through Trust</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <name>AmeriGas Partners LP</name>
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        <name>Blue Racer Midstream LLC</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <title>FNMA UMBS, 30 Year</title>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <name>Hess Corp.</name>
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        <title>Hess Corp.</title>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <name>AMSR Trust</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3132QWC64</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <name>E3</name>
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        <name>Republic of Panama</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan Tobacco, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Residential Asset Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Greenko Dutch BV</name>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego Gas &amp; Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF 2019-K92 Mortgage Trust</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern California Edison Co.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Scotts Miracle-Gro Co. (The)</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>Sunoco LP</name>
        <lei>N/A</lei>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAJ6</cusip>
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        <name>Rite Aid Corp.</name>
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        <name>OGE Energy Corp.</name>
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        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
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        <name>Ventas Realty LP</name>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <name>AMSR Trust</name>
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        <name>Walt Disney Co. (The)</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS Group AG</name>
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      <invstOrSec>
        <name>FMC GMSR Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>P -stlb</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="99T0GTS4O"/>
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        <balance>18500000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>Extra Space Storage LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>Extra Space Storage LP</title>
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        <balance>1427000.00000000</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>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2018-M3, Class A2</title>
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        <balance>5546062.35780000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource, Inc.</title>
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        <balance>1685000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>RT Fin LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Progress Residential</name>
        <lei>N/A</lei>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
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          <isin value="US001807AG13"/>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140HAFF2</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JGEF8</cusip>
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        <balance>1415238.07000000</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>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Re-REMIC Trust, Series 2025-FRR5, Class CK73</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K070, Class A2</title>
        <cusip>3137FCJK1</cusip>
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          <isin value="US3137FCJK14"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
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          <isin value="US378272BU12"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Renew</name>
        <lei>N/A</lei>
        <title>Renew</title>
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          <other otherDesc="Inhouse Asset ID" value="99TXBGSOJ"/>
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        <balance>134406248.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2049-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, STRIPS, Series 383, Class 69</title>
        <cusip>3136FFQS1</cusip>
        <identifiers>
          <isin value="US3136FFQS15"/>
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        <balance>48943.13260000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GGL7</cusip>
        <identifiers>
          <isin value="US06051GGL77"/>
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        <balance>971000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.70500000</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2016-K55, Class B</title>
        <cusip>30289HAE1</cusip>
        <identifiers>
          <isin value="US30289HAE18"/>
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        <balance>9707447.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9621817.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.17194640</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-KG01, Class X2B</title>
        <cusip>30298CAQ4</cusip>
        <identifiers>
          <isin value="US30298CAQ42"/>
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        <balance>32370000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617J76Z0</cusip>
        <identifiers>
          <isin value="US3617J76Z08"/>
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        <balance>2240560.58000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2143421.12000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2010-70, Class SA</title>
        <cusip>31398TJZ5</cusip>
        <identifiers>
          <isin value="US31398TJZ57"/>
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        <balance>321858.87330000</balance>
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        <curCd>USD</curCd>
        <valUSD>45531.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.00000120</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967PA3</cusip>
        <identifiers>
          <isin value="US172967PA33"/>
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        <balance>10460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11097330.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.27000000</annualizedRt>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
        <cusip>62482BAA0</cusip>
        <identifiers>
          <isin value="US62482BAA08"/>
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        <balance>7813000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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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>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPCK7</cusip>
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          <isin value="US1248EPCK74"/>
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        <balance>13735000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133KHGR1</cusip>
        <identifiers>
          <isin value="US3133KHGR12"/>
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        <balance>6836248.23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6341086.81000000</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>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GE Capital Mortgage Services, Inc. Trust</name>
        <lei>N/A</lei>
        <title>GE Capital Mortgage Services, Inc. Trust, Series 1999-HE1, Class A6</title>
        <cusip>36157RD77</cusip>
        <identifiers>
          <isin value="US36157RD772"/>
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        <balance>74170.72630000</balance>
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        <curCd>USD</curCd>
        <valUSD>74491.07000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.69999960</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 19K-1510, Class C</title>
        <cusip>30265DAG3</cusip>
        <identifiers>
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        <name>Vodafone Group plc</name>
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        <name>FHLMC</name>
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        <title>FHLMC Gold Pools, Other</title>
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        <name>Camden</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>RTX Corp.</name>
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      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wynn Las Vegas LLC</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Kinder Morgan, Inc.</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>Progress Residential Trust</name>
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        <name>Saavi Energia Sarl</name>
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        <name>GNMA</name>
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        <name>Aetna, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FNMA</name>
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        <name>FREMF 2021-KF112 Mortgage Trust</name>
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        <name>FHLMC</name>
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        <name>Pagaya AI Technology in Housing Trust</name>
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        <name>MVW LLC</name>
        <lei>N/A</lei>
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        <name>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Texas Instruments, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNO Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Central Garden &amp; Pet Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Air Canada Pass-Through Trust</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Goodgreen Ltd.</name>
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        <name>HSBC Holdings plc</name>
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        <name>White Cap Supply Holdings LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <couponKind>Fixed</couponKind>
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        <name>Banc of America Funding Trust</name>
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        <name>FHLMC</name>
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        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>36228FTW6</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
        <cusip>60687YCZ0</cusip>
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        <name>FREMF Mortgage Trust</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>ANZ New Zealand Int'l Ltd.</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>United States of America</name>
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        <name>GNMA</name>
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        <name>Alabama Power Co.</name>
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        <name>FNMA</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>United Airlines Pass-Through Trust</name>
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        <name>Aqua Finance Trust</name>
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        <name>Axalta Coating Systems US Holdings, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>American Builders &amp; Contractors Supply Co., Inc.</name>
        <lei>549300H5GQ4C1BEKG397</lei>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp.</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2003-47, Class PE</title>
        <cusip>31393CRH8</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FREMF 2020-K105 Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MNR ABS Issuer I LLC</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Virgin Media Secured Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominican Republic</name>
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        <name>Atmos Energy Corp.</name>
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      <invstOrSec>
        <name>Lendbuzz Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wayfair LLC</name>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <title>FREMF Mortgage Trust, Series 2020-K118, Class D</title>
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          <isin value="US30316TAS15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WP Carey, Inc.</name>
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      <invstOrSec>
        <name>Elara HGV Timeshare Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
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      <invstOrSec>
        <name>Quest Diagnostics, Inc.</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>Quest Diagnostics, Inc.</title>
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        <name>INEOS US Finance LLC</name>
        <lei>5493008MHJ4R367SNK31</lei>
        <title>INEOS US Finance LLC, 1st Lien Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
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        <invCountry>FR</invCountry>
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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., Series FIX</title>
        <cusip>06051GML0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-24</maturityDt>
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          <annualizedRt>5.16200000</annualizedRt>
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        <name>BG Beta I Ltd.</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>Union Electric Co.</name>
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        <name>FHLMC</name>
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        <name>Deutsche Bank AG</name>
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        <name>Element Solutions, Inc.</name>
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        <title>Element Solutions, Inc.</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>United States of America</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3620AR5J6</cusip>
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          <isin value="US3620AR5J63"/>
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        <balance>93450.74000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Diversified Gas &amp; Oil Corp.</name>
        <lei>5493008O08WU7K5XC271</lei>
        <title>Diversified Gas &amp; Oil Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="NO0013513606"/>
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        <balance>48250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175BV5</cusip>
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          <isin value="US161175BV50"/>
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        <balance>3107000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2000021.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Paraguay Government International Bond</name>
        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Republic of Paraguay</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP75744AG08"/>
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        <balance>14281000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11996682.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Grantor Trust, Whole Loan, Series 2002-T4</title>
        <cusip>31392B6Y7</cusip>
        <identifiers>
          <isin value="US31392B6Y72"/>
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        <balance>12917011.53430000</balance>
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        <curCd>USD</curCd>
        <valUSD>183039.22000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.39948840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
        <cusip>969457CN8</cusip>
        <identifiers>
          <isin value="US969457CN88"/>
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        <balance>11000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10411397.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QFLJ6</cusip>
        <identifiers>
          <isin value="US3140QFLJ61"/>
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        <balance>87476567.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71472674.58000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36179WLP1</cusip>
        <identifiers>
          <isin value="US36179WLP13"/>
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        <balance>28357991.15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23768724.14000000</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>2051-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NuStar Logistics LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NuStar Logistics LP</title>
        <cusip>67059TAH8</cusip>
        <identifiers>
          <isin value="US67059TAH86"/>
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        <balance>647000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>659163.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
        <cusip>69331CAJ7</cusip>
        <identifiers>
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        <balance>2296000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2227720.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
        <cusip>81180WBC4</cusip>
        <identifiers>
          <isin value="US81180WBC47"/>
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        <balance>3204000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3064057.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.09100000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2023-3A, Class E</title>
        <cusip>36267PAL0</cusip>
        <identifiers>
          <isin value="US36267PAL04"/>
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        <balance>4900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5259736.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.27000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2020-1, Class MB</title>
        <cusip>35563PNQ8</cusip>
        <identifiers>
          <isin value="US35563PNQ80"/>
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        <balance>32000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22510140.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Kinetik Holdings LP</name>
        <lei>549300RD6AJIMYC0HY12</lei>
        <title>Kinetik Holdings LP</title>
        <cusip>49461MAA8</cusip>
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          <isin value="US49461MAA80"/>
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        <balance>20881000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Icon Parent, Inc.</name>
        <lei>N/A</lei>
        <title>Icon Parent, Inc., 1st Lien Term Loan</title>
        <cusip>45115DAB4</cusip>
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        <balance>6575000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Gray Oak Pipeline LLC</name>
        <lei>N/A</lei>
        <title>Gray Oak Pipeline LLC</title>
        <cusip>38937LAC5</cusip>
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        <balance>1798000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1775518.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140HLJG2</cusip>
        <identifiers>
          <isin value="US3140HLJG20"/>
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        <balance>1144046.58000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1091014.11000000</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>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Duke Energy Ohio, Inc.</name>
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        <name>FHLMC</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>State of Israel</name>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <name>Entergy Texas, Inc.</name>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <name>Diversified ABS IX Holdings LLC</name>
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      <invstOrSec>
        <name>Delta Air Lines Pass-Through Trust</name>
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        <name>Mariner Finance Issuance Trust</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>FHLMC</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Incora Intermediate LLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
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        <name>Goodgreen Trust</name>
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        <name>Ameren Illinois Co.</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <issuerCat>USGA</issuerCat>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <curCd>USD</curCd>
        <valUSD>8265.66000000</valUSD>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>NACC Reperforming Loan REMIC Trust</name>
        <lei>N/A</lei>
        <title>NACC Reperforming Loan REMIC Trust, Series 2004-R2, Class A1</title>
        <cusip>62951MAM2</cusip>
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        <curCd>USD</curCd>
        <valUSD>51527.71000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3132WF5T2</cusip>
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        <name>BPCE SA</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <name>FREMF 2020-K105 Mortgage Trust</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <name>Banc of America Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <name>Mid-State Capital Corp. Trust</name>
        <lei>N/A</lei>
        <title>Mid-State Capital Corp. Trust, Series 2006-1, Class A</title>
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        <name>Range Resources Corp.</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
        <title>Range Resources Corp.</title>
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        <name>Haleon US Capital LLC</name>
        <lei>549300N8C3A3L0UVQB07</lei>
        <title>Haleon US Capital LLC</title>
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        <name>Intelsat Jackson Holdings SA</name>
        <lei>8XJ8KF85PBKK1TLMFN29</lei>
        <title>Intelsat Jackson Holdings SA</title>
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        <invCountry>LU</invCountry>
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        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT, Inc.</title>
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        <name>Moran Foods LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QMUA0</cusip>
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          <isin value="US3140QMUA03"/>
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        <balance>17248593.74000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617ALMR8</cusip>
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          <isin value="US3617ALMR80"/>
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        <balance>3970800.25000000</balance>
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        <valUSD>3781223.25000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Soundview Home Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
        <lei>54930043I78H35DVVW89</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2016-2, Class A</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sprint Capital Corp.</name>
        <lei>549300L17W0GQBR1PO80</lei>
        <title>Sprint Capital Corp.</title>
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      <invstOrSec>
        <name>GNMA</name>
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        <title>GNMA II, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF 2018-K1505 Mortgage Trust</name>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2016-38, Class NA</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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          <isin value="US91324PEF53"/>
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        <balance>1898000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H08, Class XI</title>
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        <curCd>USD</curCd>
        <valUSD>315316.88000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3128HXKY01"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140W04Z5</cusip>
        <identifiers>
          <isin value="US3140W04Z53"/>
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        <balance>16180439.11000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2020-M50, Class X1</title>
        <cusip>3136BCGU8</cusip>
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          <isin value="US3136BCGU85"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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          <isin value="US210518CX25"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Encompass Health Corp.</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>Encompass Health Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>CFIN Issuer LLC</name>
        <lei>N/A</lei>
        <title>CFIN Issuer LLC, Series 2022-RTL1, Class AB</title>
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          <isin value="US12531CAB28"/>
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        <curCd>USD</curCd>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFF7</cusip>
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        <balance>6097000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6236324.25000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.44900000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series KJ26, Class A2</title>
        <cusip>3137FPJ55</cusip>
        <identifiers>
          <isin value="US3137FPJ554"/>
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        <curCd>USD</curCd>
        <valUSD>12248835.84000000</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>2027-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United Rentals North America, Inc.</name>
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        <name>JBS USA Holding Lux SARL</name>
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        <name>Imola Merger Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>FHLMC</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>Mars, Inc.</name>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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      <invstOrSec>
        <name>FNMA/FHLMC</name>
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        <name>FHLMC</name>
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        <name>DT Midstream, Inc.</name>
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        <name>Valaris Ltd.</name>
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        <name>FHLMC</name>
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        <cusip>3137FNAY6</cusip>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140J6DL8</cusip>
        <identifiers>
          <isin value="US3140J6DL86"/>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-03-15</maturityDt>
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      <invstOrSec>
        <name>FREMF 2018-K1507 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K157, Class C</title>
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          <isin value="US30297EAS72"/>
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        <balance>50000000.00000000</balance>
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        <debtSec>
          <maturityDt>2033-09-25</maturityDt>
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        <name>Lehman Brothers Holdings, Inc.</name>
        <lei>549300FDK6ZP3YIHRJ47</lei>
        <title>Lehman Brothers Holdings, Inc., Escrow</title>
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        <name>Lendingpoint SPE Trust</name>
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        <name>Owens-Brockway Glass Container, Inc.</name>
        <lei>V2UQUCDZJ9WY98W8QU33</lei>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2023-M8, Class A2</title>
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        <name>Asbury Automotive Group, Inc.</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>Asbury Automotive Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Oman Government International Bond</name>
        <lei>549300SZ20F0QTKNQC75</lei>
        <title>Sultanate of Oman Government Bond</title>
        <cusip>68205LAT0</cusip>
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          <isin value="US68205LAT08"/>
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        <balance>6400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6588032.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>OM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Claire's Stores, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <name>Entergy Louisiana LLC</name>
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        <name>Gray Oak Pipeline LLC</name>
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        <name>Berkshire Hathaway Finance Corp.</name>
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        <name>Iron Mountain, Inc.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Fidelity National Information Services, Inc.</name>
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        <name>GNMA</name>
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        <name>American Express Co.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>ONEOK Partners LP</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <maturityDt>2044-02-01</maturityDt>
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      <invstOrSec>
        <name>PG&amp;E Recovery Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <name>Acadia Healthcare Co., Inc.</name>
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        <title>Acadia Healthcare Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
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          <maturityDt>2029-03-15</maturityDt>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Coherent Corp.</name>
        <lei>549300O5C25A0MMHHU33</lei>
        <title>Coherent Corp.</title>
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        <curCd>USD</curCd>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <invCountry>DK</invCountry>
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        <name>Home Partners of America Trust</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <issuerCat>USGSE</issuerCat>
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        <debtSec>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <balance>2269127.98000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NNN REIT, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EQT Corp.</name>
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        <title>EQT Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Air Canada Pass-Through Trust</name>
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          <isin value="US00908PAB31"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>Nissan Auto Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Home Partners of America Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-19</maturityDt>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133AUP44</cusip>
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          <isin value="US3133AUP445"/>
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        <balance>17730249.55000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
        <cusip>055451BA5</cusip>
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        <balance>1942000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1925651.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2022-83, Class GZ</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-01</maturityDt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140Q83U7</cusip>
        <identifiers>
          <isin value="US3140Q83U76"/>
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        <balance>2355477.67000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2254176.82000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
        <cusip>29250NBT1</cusip>
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        <balance>9057000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2084-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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        <name>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2019-BN19, Class A3</title>
        <cusip>06540WBD4</cusip>
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        <balance>9707447.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8993546.79000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.18300000</annualizedRt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122CQ9</cusip>
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          <isin value="US110122CQ99"/>
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        <balance>5823000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CCO Holdings LLC</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC</title>
        <cusip>1248EPCQ4</cusip>
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        <balance>1010000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617K1XE8</cusip>
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          <isin value="US3617K1XE81"/>
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        <balance>4431901.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4269892.45000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Brooklyn Union Gas Co. (The)</name>
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        <name>Graphic Packaging International LLC</name>
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        <name>FNMA</name>
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        <name>Independence Plaza Trust</name>
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      <invstOrSec>
        <name>San Diego Gas &amp; Electric Co.</name>
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        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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        <name>GNMA</name>
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        <name>BPCE SA</name>
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        <name>Permian Resources Operating LLC</name>
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        <name>Public Service Co. of Oklahoma</name>
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        <name>Rite Aid Corp.</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
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        <name>Terex Corp.</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>Calpine Corp.</name>
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        <title>Calpine Corp.</title>
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        <name>Republic of El Salvador</name>
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        <name>Veros Auto Receivables Trust</name>
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        <name>IQVIA, Inc.</name>
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        <name>Prologis LP</name>
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        <name>Hertz Corp. (The)</name>
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        <name>MetLife, Inc.</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Chemours Co. (The)</name>
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        <name>ITC Holdings Corp.</name>
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        <name>AIB Group plc</name>
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        <name>TriMas Corp.</name>
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        <name>Ameren Corp.</name>
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        <name>FREMF 2019-KW10 Mortgage Trust</name>
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        <name>Wynn Resorts Finance LLC</name>
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        <name>FNMA</name>
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        <name>HGI CRE CLO Ltd.</name>
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        <name>RingCentral, Inc.</name>
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        <title>RingCentral, Inc.</title>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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      <invstOrSec>
        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC Trust, Whole Loan, Series 2003-W4, Class 2A</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bath &amp; Body Works, Inc.</name>
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        <title>Bath &amp; Body Works, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSL Finance plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCR Atleos Corp.</name>
        <lei>9845005FC3S0VA714741</lei>
        <title>NCR Atleos Corp., 1st Lien Term Loan B</title>
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          <isin value="US63001PAF80"/>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2004-3, Class A25</title>
        <cusip>12669FPZ0</cusip>
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          <isin value="US12669FPZ08"/>
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        <balance>52999.64470000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ardagh Packaging Finance plc</name>
        <lei>N/A</lei>
        <title>Ardagh Packaging Finance plc</title>
        <cusip>03969AAN0</cusip>
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        <balance>9786000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K142, Class AM</title>
        <cusip>3137H73Q4</cusip>
        <identifiers>
          <isin value="US3137H73Q47"/>
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        <balance>21356384.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>Bear Stearns Mortgage Securities, Inc.</name>
        <lei>N/A</lei>
        <title>Bear Stearns Mortgage Securities, Inc., Series 1997-6, Class 1A</title>
        <cusip>073914VW0</cusip>
        <identifiers>
          <isin value="US073914VW09"/>
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        <balance>13.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13.91000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.83038960</annualizedRt>
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      <invstOrSec>
        <name>Takeda Pharmaceutical Co. Ltd.</name>
        <lei>549300ZLMVP4X0OGR454</lei>
        <title>Takeda Pharmaceutical Co. Ltd.</title>
        <cusip>874060AZ9</cusip>
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        <balance>5254000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Central Garden &amp; Pet Co.</name>
        <lei>5493004DVZLD37DJ0H83</lei>
        <title>Central Garden &amp; Pet Co.</title>
        <cusip>153527AP1</cusip>
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        <balance>724000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EMRLD Borrower LP</name>
        <lei>5493000GJYE7GAQCUC61</lei>
        <title>EMRLD Borrower LP, 1st Lien Term Loan B</title>
        <cusip>26872NAC3</cusip>
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          <isin value="US26872NAC39"/>
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        <balance>8847453.33600000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Sirius XM Radio LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio LLC</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H11, Class XI</title>
        <cusip>38376R4N3</cusip>
        <identifiers>
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        <balance>21408310.08000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2067-05-20</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Vital Energy, Inc.</name>
        <lei>549300X0PTWU2QSLSL14</lei>
        <title>Vital Energy, Inc.</title>
        <cusip>516806AJ5</cusip>
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        <balance>1566000.00000000</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Cheniere Energy Partners LP</name>
        <lei>5493005UEC8AZ34LDV29</lei>
        <title>Cheniere Energy Partners LP</title>
        <cusip>16411QAS0</cusip>
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        <balance>29095000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140EU2S7</cusip>
        <identifiers>
          <isin value="US3140EU2S78"/>
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        <balance>148505.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>134668.65000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <name>Consumers Energy Co.</name>
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        <name>Avient Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Eni SpA</name>
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        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Avantor Funding, Inc.</name>
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        <title>Avantor Funding, Inc.</title>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>ITC Holdings Corp.</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <name>Seasoned Credit Risk Transfer Trust</name>
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        <name>Vital Energy, Inc.</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>FHLMC</name>
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        <name>Morgan Stanley</name>
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        <name>FHLMC</name>
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        <name>Arab Republic of Egypt</name>
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        <name>FNMA</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>Public Service Electric and Gas Co.</name>
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        <name>UniCredit SpA</name>
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        <name>FNMA</name>
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        <name>Columbia Pipelines Operating Co. LLC</name>
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        <name>ACRE Commercial Mortgage Ltd.</name>
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        <name>Honeywell International, Inc.</name>
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        <name>GNMA</name>
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        <name>MGM Resorts International</name>
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        <name>FHLMC</name>
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        <name>Republic of Paraguay</name>
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        <name>GNMA</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>Masterbrand, Inc.</name>
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        <name>FNMA</name>
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        <name>Axon Enterprise, Inc.</name>
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        <name>Station Casinos LLC</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc.</title>
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        <name>Standard Chartered plc</name>
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        <title>Standard Chartered plc</title>
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        <invCountry>GB</invCountry>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Blue Racer Midstream LLC</name>
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        <name>FHLMC Pool</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>Dana, Inc.</name>
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        <name>Scripps Escrow II, Inc.</name>
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        <name>ConocoPhillips Co.</name>
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        <name>FNMA</name>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>ams-OSRAM AG</name>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>FHLMC</name>
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        <name>Virginia Power Fuel Securitization LLC</name>
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        <name>FirstKey Homes Trust</name>
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        <name>GNMA</name>
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        <name>Southern California Edison Co.</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>Nationwide Building Society</name>
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        <name>Republic Services, Inc.</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <invCountry>IE</invCountry>
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        <name>Raizen Fuels Finance SA</name>
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        <name>FNMA</name>
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        <name>Goodman US Finance Three LLC</name>
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        <name>Essex Portfolio LP</name>
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        <name>VOLT XCV LLC</name>
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        <name>Westlake Automobile Receivables Trust</name>
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        <name>Federal Republic of Nigeria</name>
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        <issuerCat>NUSS</issuerCat>
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        <name>Purewest ABS Issuer LLC</name>
        <lei>254900N011GHBESCKS35</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Hess Midstream Operations LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
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          <isin value="US3617XXC805"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2072-03-20</maturityDt>
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        <name>T-Mobile USA, Inc.</name>
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        <title>T-Mobile USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First Student Bidco, Inc.</name>
        <lei>N/A</lei>
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          <isin value="US33718FAM23"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AthenaHealth Group, Inc.</name>
        <lei>254900AA3KZN4Q7A5Z33</lei>
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          <isin value="US04686RAB96"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>HERO Funding Trust</name>
        <lei>N/A</lei>
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          <isin value="US42771XAC02"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Amcor Flexibles North America, Inc.</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
        <title>Amcor Flexibles North America, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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        <name>Sigeco Securitization I LLC</name>
        <lei>N/A</lei>
        <title>Sigeco Securitization I LLC, Series A1</title>
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          <isin value="US82655KAA97"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.02600000</annualizedRt>
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        <name>Directv Financing LLC</name>
        <lei>N/A</lei>
        <title>Directv Financing LLC</title>
        <cusip>25461LAA0</cusip>
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          <isin value="US25461LAA08"/>
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        <balance>4422000.00000000</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>2027-08-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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        <name>CFIN 2022-RTL1 Issuer LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="O1FAEA6"/>
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        <balance>995000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>FS Luxembourg Sarl</name>
        <lei>222100EKR3JUJPGGOY81</lei>
        <title>FS Luxembourg Sarl</title>
        <cusip>30315XAC8</cusip>
        <identifiers>
          <isin value="US30315XAC83"/>
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        <balance>2997000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3026970.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2009-75, Class IY</title>
        <cusip>38376CJS9</cusip>
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          <isin value="US38376CJS98"/>
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        <balance>99364.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2693.96000000</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>2039-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BAE Systems plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prudential Insurance Co. of America (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>BXG Receivables Note Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Hess Corp.</name>
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        <name>NatWest Markets plc</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>UBS Group AG</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Moran Foods LLC</name>
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        <name>Berkshire Hathaway Energy Co.</name>
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        <title>Berkshire Hathaway Energy Co.</title>
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        <name>Eni SpA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>Eni SpA</title>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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        <name>FNMA</name>
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        <name>Renew</name>
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        <name>United States of America</name>
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        <name>COPT Defense Properties LP</name>
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        <name>FNMA</name>
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        <name>American Airlines, Inc.</name>
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        <name>FHLMC Multi-Family Structured Credit Risk</name>
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        <name>Florida Power &amp; Light Co.</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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      <invstOrSec>
        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
        <title>Coterra Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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          <isin value="US3617GLUF96"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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          <isin value="US404121AK12"/>
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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>Deutsche Alt-A Securities, Inc., Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-25</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Consolidated Edison Co. of New York, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIA Group Ltd.</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA Group Ltd.</title>
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        <invCountry>HK</invCountry>
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      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2176897754"/>
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        <balance>4900000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Centex Home Equity Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US152314DQ07"/>
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        <name>Paraguay Government International Bond</name>
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        <title>Republic of Paraguay</title>
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        <invCountry>PY</invCountry>
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        <name>RB Global Holdings, Inc.</name>
        <lei>254900LH3N0EGB1LQ203</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <name>Gray Media, Inc.</name>
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        <name>AerCap Ireland Capital DAC</name>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
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      <invstOrSec>
        <name>MASTR Resecuritization Trust</name>
        <lei>N/A</lei>
        <title>MASTR Resecuritization Trust, Series 2005-PO, Class 3</title>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <name>AbbVie, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>HSBC Holdings plc</name>
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        <name>MGM Resorts International</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <name>FNMA</name>
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        <name>San Diego Gas &amp; Electric Co.</name>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US31392JYQ65"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
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        <balance>558000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-09</maturityDt>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
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          <isin value="US161175CD44"/>
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        <balance>2277000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LFXN9</cusip>
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          <isin value="US3140LFXN90"/>
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        <balance>19414894.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16531539.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Aon Corp.</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
        <title>Aon Corp.</title>
        <cusip>037389AU7</cusip>
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          <isin value="US037389AU72"/>
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        <balance>233000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
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        <balance>3920000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ADC8</cusip>
        <identifiers>
          <isin value="US44891ADC80"/>
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        <balance>3590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3624695.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
        <title>Credit Acceptance Auto Loan Trust, Series 2023-1A, Class C</title>
        <cusip>224927AE3</cusip>
        <identifiers>
          <isin value="US224927AE34"/>
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        <balance>33457000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34378894.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Public Service Electric and Gas Co.</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric and Gas Co.</title>
        <cusip>74456QAR7</cusip>
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          <isin value="US74456QAR74"/>
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        <balance>826000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Multi-Family Connecticut Avenue Securities Trust</name>
        <lei>254900JAK6X5OPMD5925</lei>
        <title>Multi-Family Connecticut Avenue Securities Trust, Series 2023-01, Class M10</title>
        <cusip>62548NAB4</cusip>
        <identifiers>
          <isin value="US62548NAB47"/>
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        <balance>53430000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-25</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SCF Equipment Leasing LLC</name>
        <lei>N/A</lei>
        <title>SCF Equipment Leasing LLC, Series 2022-1A, Class E</title>
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        <balance>3646000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3581944.52000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XN5L4</cusip>
        <identifiers>
          <isin value="US3140XN5L44"/>
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        <balance>50808274.65000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41857749.26000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAS0</cusip>
        <identifiers>
          <isin value="US05401AAS06"/>
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        <balance>3660000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3788785.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>CWABS, Inc., Asset-Backed Certificates</name>
        <lei>N/A</lei>
        <title>CWABS, Inc. Asset-Backed Certificates, Series 2004-1, Class M2</title>
        <cusip>126671Z33</cusip>
        <identifiers>
          <isin value="US126671Z332"/>
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        <balance>3412.47000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3613.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.26420080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HINNT LLC</name>
        <lei>N/A</lei>
        <title>HINNT LLC, Series 2022-A, Class D</title>
        <cusip>40486JAD9</cusip>
        <identifiers>
          <isin value="US40486JAD90"/>
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        <balance>6531552.55000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6334913.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36208UCT2</cusip>
        <identifiers>
          <isin value="US36208UCT25"/>
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        <balance>247.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247.39000000</valUSD>
        <pctVal>0.000001085563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>Entergy Mississippi LLC</name>
        <lei>54930043I78H35DVVW89</lei>
        <title>Entergy Mississippi LLC</title>
        <cusip>29366WAA4</cusip>
        <identifiers>
          <isin value="US29366WAA45"/>
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        <balance>486000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>351273.34000000</valUSD>
        <pctVal>0.001541410172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <name>Sunoco LP</name>
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        <name>Outfront Media Capital LLC</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Kinder Morgan, Inc.</name>
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        <name>Petroleos Mexicanos</name>
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        <name>Bank of America Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Puget Sound Energy, Inc.</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
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          <couponKind>Fixed</couponKind>
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        <name>Intesa Sanpaolo SpA</name>
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        <title>Intesa Sanpaolo SpA</title>
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        <name>CGI, Inc.</name>
        <lei>549300WSRCZY73ZG3090</lei>
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        <invCountry>CA</invCountry>
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        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
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        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
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        <name>Business Jet Securities LLC</name>
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      <invstOrSec>
        <name>Nationstar Mortgage Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Nationstar Mortgage Holdings, Inc.</title>
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      <invstOrSec>
        <name>Moran Foods LLC</name>
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        <name>FHLMC</name>
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        <name>HSBC Holdings plc</name>
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        <name>Clarios Global LP</name>
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        <name>FHLMC</name>
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        <name>United Airlines Pass-Through Trust</name>
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      <invstOrSec>
        <name>Virginia Electric and Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sinclair Television Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US31371GMS65"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30298CAU53"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AdaptHealth LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <balance>16045000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-14</maturityDt>
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      <invstOrSec>
        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-02</maturityDt>
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      <invstOrSec>
        <name>Goodgreen Trust</name>
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          <maturityDt>2052-10-15</maturityDt>
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      <invstOrSec>
        <name>Lendingpoint Asset Securitization Trust</name>
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        <name>Glencore Funding LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sabra Health Care LP</name>
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        <name>Herc Holdings, Inc.</name>
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        <name>Southwestern Electric Power Co.</name>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II</title>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2072-03-20</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FXED0</cusip>
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        <balance>24720622.49000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lumen Technologies, Inc.</name>
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      <invstOrSec>
        <name>California Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Macquarie Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ADT Security Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-01</maturityDt>
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        <name>Banque Federative du Credit Mutuel SA</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA</title>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-13</maturityDt>
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          <annualizedRt>5.79000000</annualizedRt>
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        <name>Axalta Coating Systems LLC</name>
        <lei>N/A</lei>
        <title>Axalta Coating Systems LLC</title>
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        <balance>2971000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Scripps Escrow, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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        <name>Newell Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TEGNA, Inc.</name>
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        <name>Virginia Electric and Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
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        <name>Mid-State Capital Corp. Trust</name>
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        <name>Williams Scotsman, Inc.</name>
        <lei>549300DAKDS8SCO1OT57</lei>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
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        <name>PPL Electric Utilities Corp.</name>
        <lei>549300GCZLSGYEYPIR35</lei>
        <title>PPL Electric Utilities Corp.</title>
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        <balance>1384000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <balance>66007028.99000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Energizer Holdings, Inc.</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>Energizer Holdings, Inc.</title>
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          <isin value="US29272WAC38"/>
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        <balance>4985000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>N/A</lei>
        <title>Medline Borrower LP</title>
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          <isin value="US58506DAA63"/>
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        <balance>1834000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2016-2, Class B</title>
        <cusip>90933JAA9</cusip>
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          <isin value="US90933JAA97"/>
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        <balance>694534.77960000</balance>
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        <curCd>USD</curCd>
        <valUSD>687815.16000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3138M4N81</cusip>
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        <balance>1069505.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1045369.62000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust, Series 2023-3A, Class D</title>
        <cusip>96041CAN2</cusip>
        <identifiers>
          <isin value="US96041CAN20"/>
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        <balance>18976000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19415698.59000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.47000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, Other</title>
        <cusip>3132G7CK9</cusip>
        <identifiers>
          <isin value="US3132G7CK98"/>
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        <balance>642290.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>629809.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Horizon Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>First Horizon Mortgage Pass-Through Trust, Series 2004-AR6, Class 2A1</title>
        <cusip>32051GBD6</cusip>
        <identifiers>
          <isin value="US32051GBD60"/>
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        <balance>35007.11060000</balance>
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        <curCd>USD</curCd>
        <valUSD>33790.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>4.48102080</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
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          <isin value="US693475AZ80"/>
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        <balance>1918000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Herc Holdings Escrow, Inc.</name>
        <lei>N/A</lei>
        <title>Herc Holdings Escrow, Inc.</title>
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          <isin value="US42703NAA90"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Delta Air Lines Pass-Through Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>31402CVW9</cusip>
        <identifiers>
          <isin value="US31402CVW99"/>
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        <balance>348305.80000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3622AB5X6</cusip>
        <identifiers>
          <isin value="US3622AB5X65"/>
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        <balance>10148373.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8706733.09000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ADT Security Corp. (The)</name>
        <lei>5493009JEEDYLVRA0J13</lei>
        <title>ADT Security Corp. (The)</title>
        <cusip>74166NAA2</cusip>
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          <isin value="US74166NAA28"/>
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        <balance>7112000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6750619.37000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3117, Class EO</title>
        <cusip>31396HUN7</cusip>
        <identifiers>
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        <name>FNMA</name>
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        <name>Adient Global Holdings Ltd.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>GNMA</name>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <name>Duke Energy Progress LLC</name>
        <lei>0NIFZ782LS46WOC9QK20</lei>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
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      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
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        <name>HERO Funding</name>
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        <name>FNMA</name>
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        <name>Exxon Mobil Corp.</name>
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        <title>Exxon Mobil Corp.</title>
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        <name>CWABS, Inc. Asset-Backed Certificates</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>SMBC Aviation Capital Finance DAC</name>
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        <name>Madison IAQ LLC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Republic of Costa Rica</name>
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        <name>CSMC OA LLC</name>
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        <name>BWAY Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <invCountry>CH</invCountry>
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        <name>Entergy Louisiana LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
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        <invCountry>US</invCountry>
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        <name>Edison International</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>Vistra Operations Co. LLC</name>
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        <name>Celanese US Holdings LLC</name>
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        <name>MHC Commercial Mortgage Trust</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <name>Freeport-McMoRan, Inc.</name>
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        <name>Park River Holdings, Inc.</name>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp.</title>
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        <name>Republic of Colombia</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>GNMA</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, Other</title>
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        <name>MVW LLC</name>
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        <name>Metropolitan Life Global Funding I</name>
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        <name>FHLMC</name>
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        <name>Morgan Stanley</name>
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        <name>GNMA</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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        <name>Oracle Corp.</name>
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        <name>BP Capital Markets America, Inc.</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <name>FNMA</name>
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        <name>ATI, Inc.</name>
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        <name>FNMA</name>
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        <name>Petroleos Mexicanos</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>Arab Republic of Egypt</name>
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        <name>FNMA</name>
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        <name>Entergy Texas, Inc.</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas, Inc.</title>
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        <name>Avis Budget Car Rental LLC</name>
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        <name>Monongahela Power Co.</name>
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        <name>FHLMC</name>
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        <name>Schlumberger Holdings Corp.</name>
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        <name>HSBC Holdings plc</name>
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        <name>Lloyds Banking Group plc</name>
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        <title>Lloyds Banking Group plc</title>
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        <name>Charter Communications Operating LLC</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Arab Republic of Egypt</title>
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          <isin value="US03846JAG58"/>
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        <balance>1938000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1877922.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Buckeye Partners LP</name>
        <lei>549300C1PQJLVEIUBK50</lei>
        <title>Buckeye Partners LP, 1st Lien Term Loan B-6</title>
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          <isin value="US11823LAQ86"/>
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        <balance>8555457.75000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.07681000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2020-M38, Class X2</title>
        <cusip>3136BBSN3</cusip>
        <identifiers>
          <isin value="US3136BBSN32"/>
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        <balance>33923509.11540000</balance>
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        <curCd>USD</curCd>
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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>2028-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.97499960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Escrow Rite Aid</name>
        <lei>N/A</lei>
        <title>Escrow Rite Aid</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="99TFZZ9W5"/>
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        <balance>354078.00000000</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>3</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
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          <isin value="US03073EAT29"/>
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        <balance>2900000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Suisse First Boston Mortgage Securities Corp.</name>
        <lei>N/A</lei>
        <title>Credit Suisse First Boston Mortgage Securities Corp., Series 2005-7, Class 5A1</title>
        <cusip>225458G69</cusip>
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          <isin value="US225458G698"/>
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        <balance>560.16000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-25</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREMF 2018-K1505 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K155, Class X2B</title>
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          <isin value="US30296QAN25"/>
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        <balance>49743688.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2005-19, Class PB</title>
        <cusip>31394CJS2</cusip>
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          <isin value="US31394CJS26"/>
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        <balance>795701.34790000</balance>
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        <curCd>USD</curCd>
        <valUSD>816726.48000000</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>2035-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KGS-Alpha SBA COOF Trust</name>
        <lei>N/A</lei>
        <title>KGS-Alpha SBA COOF Trust, Series 2013-2, Class A</title>
        <cusip>48248XAA6</cusip>
        <identifiers>
          <isin value="US48248XAA63"/>
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        <balance>1194581.94810000</balance>
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        <curCd>USD</curCd>
        <valUSD>34135.18000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.75316040</annualizedRt>
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      <invstOrSec>
        <name>American Axle &amp; Manufacturing, Inc.</name>
        <lei>RY5TAKFOBLDUGX31MS24</lei>
        <title>American Axle &amp; Manufacturing, Inc.</title>
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          <isin value="US02406PBA75"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>Matador Resources Co.</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co.</title>
        <cusip>576485AG1</cusip>
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          <isin value="US576485AG13"/>
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        <balance>3510000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Somnigroup International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
        <title>Somnigroup International, Inc.</title>
        <cusip>88023UAH4</cusip>
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        <balance>8068000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2006-110</title>
        <cusip>31396LVP2</cusip>
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        <balance>48473.07000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>ITC Holdings Corp.</name>
        <lei>549300HTO5U9D3SLE207</lei>
        <title>ITC Holdings Corp.</title>
        <cusip>465685AR6</cusip>
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        <balance>5867000.00000000</balance>
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      <invstOrSec>
        <name>Morgan Stanley Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Mortgage Loan Trust, Series 2004-3, Class 4A</title>
        <cusip>61745MA52</cusip>
        <identifiers>
          <isin value="US61745MA522"/>
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        <balance>86280.55900000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.63946480</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Renew</name>
        <lei>N/A</lei>
        <title>Renew, Series 2017-1A, Class A</title>
        <cusip>75973LAA6</cusip>
        <identifiers>
          <isin value="US75973LAA61"/>
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        <balance>781431.24460000</balance>
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        <curCd>USD</curCd>
        <valUSD>725560.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.67000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Griffon Corp.</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>KGS-Alpha SBA COOF Trust</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
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        <name>Comcast Corp.</name>
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        <name>FNMA</name>
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        <name>Deutsche Bank AG</name>
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        <name>FHLMC</name>
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        <name>Teachers Insurance &amp; Annuity Association of America</name>
        <lei>O06XD7BJ4EPXNABVFN69</lei>
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        <name>FNMA</name>
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        <name>DT Midstream, Inc.</name>
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        <name>FHLMC</name>
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        <name>Republic of Turkiye (The)</name>
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        <invCountry>TR</invCountry>
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        <name>AMSR Trust</name>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
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        <name>Antero Resources Corp.</name>
        <lei>APVBKPOULHUX7YZLKU17</lei>
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        <name>Bayview Opportunity Master Fund VII Trust</name>
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        <name>Cascade MH Asset Trust</name>
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          <isin value="US14731QAF63"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140LGSS26"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-01</maturityDt>
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      <invstOrSec>
        <name>Ascent Resources Utica Holdings LLC</name>
        <lei>N/A</lei>
        <title>Ascent Resources Utica Holdings LLC</title>
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          <isin value="US04364VAX10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ohio Power Co.</name>
        <lei>06ZODLC132CY1O2Y7D77</lei>
        <title>Ohio Power Co.</title>
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          <isin value="US677415CR01"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140GWMP5</cusip>
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          <isin value="US3140GWMP55"/>
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        <balance>8423441.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
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          <isin value="US98313RAH93"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Healthpeak OP LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30293HAE53"/>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Par Pharmaceutical, Inc.</name>
        <lei>549300KK5WR4MGN4YT97</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>Duke Energy Progress LLC</name>
        <lei>0NIFZ782LS46WOC9QK20</lei>
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        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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      <invstOrSec>
        <name>FREMF 2020-K116 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K116, Class D</title>
        <cusip>30316LAS8</cusip>
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          <isin value="US30316LAS88"/>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2016-2, Class AA</title>
        <cusip>023765AA8</cusip>
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          <isin value="US023765AA88"/>
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        <balance>611244.50000000</balance>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3133KNE82</cusip>
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        <balance>12023879.10000000</balance>
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        <valUSD>9803626.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816DP1</cusip>
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          <isin value="US025816DP17"/>
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        <balance>2500000.00000000</balance>
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        <valUSD>2522842.60000000</valUSD>
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        <name>FNMA</name>
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        <name>NOVA Chemicals Corp.</name>
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        <name>FNMA</name>
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        <name>FHLMC Pool</name>
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        <name>GNMA</name>
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        <name>Cheniere Energy Partners LP</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>Leidos, Inc.</name>
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        <title>Leidos, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Petco Health &amp; Wellness Co., Inc.</name>
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        <title>Petco Health &amp; Wellness Co., Inc., 1st Lien Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DP Lion Holdco LLC</name>
        <lei>254900327YUW2NAXPW14</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>Interstate Power and Light Co.</name>
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        <title>Interstate Power and Light Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
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        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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        <name>DNB Bank ASA</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB Bank ASA</title>
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        <name>Alumina Pty. Ltd.</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <invCountry>US</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2024-4A, Class E</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Water Capital Corp.</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
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      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2019-1, Class A</title>
        <cusip>90931EAA2</cusip>
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          <isin value="US90931EAA29"/>
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        <balance>1279311.89000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co., Series B</title>
        <cusip>23338VAR7</cusip>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
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        <cusip>23346CAJ7</cusip>
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          <isin value="US23346CAJ71"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Washington Mutual Mortgage Pass-Through Certificates WMALT Trust</name>
        <lei>N/A</lei>
        <title>Washington Mutual Mortgage Pass-Through Certificates WMALT Trust, Series 2005-4, Class CB7</title>
        <cusip>9393366B4</cusip>
        <identifiers>
          <isin value="US9393366B45"/>
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        <balance>205699.39870000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
        <cusip>59156RBD9</cusip>
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        <balance>486000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Genesee &amp; Wyoming, Inc.</name>
        <lei>G617XSG94Z7G0RMW3L02</lei>
        <title>Genesee &amp; Wyoming, Inc., 1st Lien Term Loan</title>
        <cusip>37156QAZ9</cusip>
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        <balance>6670240.60150000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-10</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FREMF 2020-K739 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K739, Class D</title>
        <cusip>30289SAS6</cusip>
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        <balance>40021170.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140J1VA3</cusip>
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        <balance>8000000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.40000000</annualizedRt>
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      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
        <cusip>92332YAB7</cusip>
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        <balance>4854000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>Duke Energy Florida LLC</title>
        <cusip>341099CB3</cusip>
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        <balance>400000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>BX</name>
        <lei>N/A</lei>
        <title>BX, Series 2021-MFM1, Class E</title>
        <cusip>05608VAL0</cusip>
        <identifiers>
          <isin value="US05608VAL09"/>
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        <balance>2208444.71300000</balance>
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        <curCd>USD</curCd>
        <valUSD>2201543.32000000</valUSD>
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          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.69348000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RC4</cusip>
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        <balance>11820800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9973338.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36193PPT6</cusip>
        <identifiers>
          <isin value="US36193PPT65"/>
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        <balance>457326.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>439346.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QLR99</cusip>
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          <isin value="US3140QLR995"/>
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        <balance>22092478.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18969389.02000000</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>2051-08-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
        <title>WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR3, Class A2</title>
        <cusip>92922FNJ3</cusip>
        <identifiers>
          <isin value="US92922FNJ39"/>
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        <balance>117176.96780000</balance>
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        <curCd>USD</curCd>
        <valUSD>109347.03000000</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>2034-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.42260800</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2019-20, Class H</title>
        <cusip>3136B4NV6</cusip>
        <identifiers>
          <isin value="US3136B4NV63"/>
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        <balance>5354328.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4860814.94000000</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>2049-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LFXA7</cusip>
        <identifiers>
          <isin value="US3140LFXA79"/>
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        <balance>9365637.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8610911.54000000</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>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.59000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Antero Midstream Partners LP</name>
        <lei>N/A</lei>
        <title>Antero Midstream Partners LP</title>
        <cusip>03690AAH9</cusip>
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          <isin value="US03690AAH95"/>
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        <balance>4996000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4945159.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co., Series C</title>
        <cusip>842400GK3</cusip>
        <identifiers>
          <isin value="US842400GK35"/>
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        <balance>971000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>686549.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBV6</cusip>
        <identifiers>
          <isin value="US05526DBV64"/>
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        <balance>6410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5797667.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</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>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2022-1A, Class E</title>
        <cusip>36263XAJ2</cusip>
        <identifiers>
          <isin value="US36263XAJ28"/>
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        <balance>14000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13927345.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.64000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2015-M13, Class A2</title>
        <cusip>3136AQHL7</cusip>
        <identifiers>
          <isin value="US3136AQHL72"/>
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        <balance>298914.31460000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297968.13000000</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>2025-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.67304320</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GMA4</cusip>
        <identifiers>
          <isin value="US06051GMA49"/>
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        <balance>10662000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.46800000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAK7</cusip>
        <identifiers>
          <isin value="US05401AAK79"/>
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        <balance>2112000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2112274.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vendee Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Vendee Mortgage Trust, Series 1996-2, Class 1Z</title>
        <cusip>911760HH2</cusip>
        <identifiers>
          <isin value="US911760HH28"/>
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        <balance>22620.89160000</balance>
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        <curCd>USD</curCd>
        <valUSD>22781.19000000</valUSD>
        <pctVal>0.000099965337</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2024-2, Class MT</title>
        <cusip>35563PX46</cusip>
        <identifiers>
          <isin value="US35563PX469"/>
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        <balance>37902643.06000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32575904.15000000</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>2064-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
        <cusip>3132DQJM9</cusip>
        <identifiers>
          <isin value="US3132DQJM96"/>
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        <balance>12993383.15000000</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>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2022-A, Class A</title>
        <cusip>68378NAA8</cusip>
        <identifiers>
          <isin value="US68378NAA81"/>
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        <balance>2590298.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2588250.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>FHLMC Seasoned Credit Risk Transfer Trust, Series 2021-1, Class BXS</title>
        <cusip>35563PWX3</cusip>
        <identifiers>
          <isin value="US35563PWX31"/>
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        <balance>10142330.78000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7139714.04000000</valUSD>
        <pctVal>0.031329527730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>14.38689600</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>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAP7</cusip>
        <identifiers>
          <isin value="US89788MAP77"/>
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        <balance>4385000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4492341.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FHLMC Pool</name>
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        <name>FHLMC</name>
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        <name>BP Capital Markets America, Inc.</name>
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        <name>Palomino Funding Trust I</name>
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        <name>Shift4 Payments LLC</name>
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        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
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        <name>Rio Tinto Finance USA Ltd.</name>
        <lei>213800RX94ZKEZXPKH58</lei>
        <title>Rio Tinto Finance USA Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <name>Cinemark USA, Inc.</name>
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        <name>Hashemite Kingdom of Jordan</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>AEP Transmission Co. LLC</name>
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        <name>TSMC Arizona Corp.</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>FREMF 2018-K082 Mortgage Trust</name>
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      <invstOrSec>
        <name>Principal Life Global Funding II</name>
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      <invstOrSec>
        <name>Public Storage Operating Co.</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>Starwood Property Trust, Inc.</name>
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        <name>Vistra Operations Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Prime Security Services Borrower LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Identity Digital Ltd.</name>
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        <invCountry>IE</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Shell International Finance BV</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAX9</cusip>
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        <balance>19980000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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        <name>Piedmont Natural Gas Co., Inc.</name>
        <lei>VXB4M3BDPKF3I2AZ3G89</lei>
        <title>Piedmont Natural Gas Co., Inc.</title>
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        <balance>2800000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-01</maturityDt>
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        <name>Antero Midstream Partners LP</name>
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        <name>Kingdom of Morocco</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Anchor Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>FNMA</name>
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        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
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        <name>Progress Residential Trust</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Rocket Mortgage LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Tricolor Auto Securitization Trust</name>
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      <invstOrSec>
        <name>Cascade MH Asset Trust</name>
        <lei>N/A</lei>
        <title>Cascade MH Asset Trust, Series 2019-MH1, Class B</title>
        <cusip>14732FAB8</cusip>
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          <isin value="US14732FAB85"/>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-25</maturityDt>
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          <annualizedRt>5.00000040</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Halliburton Co.</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Impac CMB Trust</name>
        <lei>N/A</lei>
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          <isin value="US45254NLN56"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2018-KW04 Trust</name>
        <lei>N/A</lei>
        <title>FREMF Trust, Series 2018-KW04, Class C</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MNR ABS Issuer I LLC</name>
        <lei>254900P5PAYARXBH9O74</lei>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Great Ajax Operating Partnership LP</name>
        <lei>549300IMX0KE8QJMZ613</lei>
        <title>Great Ajax Operating Partnership LP, Series QIB</title>
        <cusip>38982GAA4</cusip>
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          <isin value="US38982GAA40"/>
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        <balance>28328000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Entegris, Inc.</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris, Inc.</title>
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          <isin value="US29362UAC80"/>
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        <balance>2242000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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          <isin value="US31377U2Q51"/>
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        <balance>15714522.06000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ERP Operating LP</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
        <title>ERP Operating LP</title>
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          <isin value="US26884ABF93"/>
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        <balance>2913000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-KW07, Class C</title>
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          <isin value="US30297NAG34"/>
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        <balance>12619682.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUB International Ltd.</name>
        <lei>N/A</lei>
        <title>HUB International Ltd., 1st Lien Term Loan</title>
        <cusip>44332EAZ9</cusip>
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          <isin value="US44332EAZ97"/>
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        <balance>5123411.55330000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Caerus Uinta Abs I LLC</name>
        <lei>549300KYPQ0HIKDTZK59</lei>
        <title>Caerus Uinta ABS LLC, Series 2023-1A, Class A2</title>
        <cusip>127656AB2</cusip>
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        <balance>18339676.88000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2023-4A, Class E</title>
        <cusip>30166TAG8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DP Lion Holdco LLC</name>
        <lei>254900327YUW2NAXPW14</lei>
        <title>DP Lion Holdco LLC, Series 2023-1A, Class B</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Gulfport Energy Operating Corp.</name>
        <lei>549300FJX18IDUFPHD40</lei>
        <title>Gulfport Energy Operating Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RHP Hotel Properties LP</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
        <cusip>749571AL9</cusip>
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        <balance>584000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Endo, Inc.</name>
        <lei>N/A</lei>
        <title>Endo, Inc.</title>
        <cusip>29290D117</cusip>
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          <isin value="US29290D1173"/>
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        <balance>61922.00000000</balance>
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        <valUSD>1300362.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175CA0</cusip>
        <identifiers>
          <isin value="US161175CA05"/>
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        <balance>1651000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1089770.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PECO Energy Co.</name>
        <lei>YH65D4JBECK76IFEJ279</lei>
        <title>PECO Energy Co.</title>
        <cusip>693304AY3</cusip>
        <identifiers>
          <isin value="US693304AY39"/>
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        <balance>729000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441607.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
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      <invstOrSec>
        <name>JPMorgan Mortgage Trust</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Post Road Equipment Finance LLC</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>HCA, Inc.</name>
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        <name>Southern California Gas Co.</name>
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        <name>GNMA</name>
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        <name>Shutterfly Finance LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>CARS-DB4 LP</name>
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        <name>NOVA Chemicals Corp.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>San Diego Gas &amp; Electric Co.</name>
        <lei>KNIRVXKVNJJ4P8OTMS63</lei>
        <title>San Diego Gas &amp; Electric Co., Series XXX</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Oriental Republic of Uruguay</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>UBS Group AG</name>
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      <invstOrSec>
        <name>CFIN LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Ameren Illinois Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mercury Financial Credit Card Master Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA Trust, Whole Loan, Series 2004-W9, Class 1A3</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140LV7A19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of Montreal</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2015-K51, Class B</title>
        <cusip>30293XAJ9</cusip>
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          <isin value="US30293XAJ90"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QKQL5</cusip>
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          <isin value="US3140QKQL57"/>
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        <balance>29689238.45000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBD6</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-15</maturityDt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Civitas Resources, Inc.</name>
        <lei>IIVIHPH28S64K95M2381</lei>
        <title>Civitas Resources, Inc.</title>
        <cusip>17888HAB9</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arbor Realty Trust, Inc.</name>
        <lei>549300ASFUWYQO0RW077</lei>
        <title>Arbor Realty Trust, Inc., Series QIB</title>
        <cusip>038923AX6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2004-22CB, Class 1A1</title>
        <cusip>12667FRY3</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>MVW LLC</name>
        <lei>N/A</lei>
        <title>MVW LLC, Series 2023-2A, Class D</title>
        <cusip>55400WAD1</cusip>
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        <balance>4502618.65000000</balance>
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        <name>FNMA</name>
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        <name>Octane Receivables Trust</name>
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        <name>Progress Residential Trust</name>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Petroleos Mexicanos</name>
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        <name>Vendee Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137H7ZC0</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
        <title>WR Grace Holdings LLC</title>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <couponKind>Fixed</couponKind>
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        <name>Bank of Montreal</name>
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        <name>Niagara Mohawk Power Corp.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3128S4Q59</cusip>
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        <name>Goodgreen</name>
        <lei>549300X0P2BXCQULUH20</lei>
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        <cusip>38218GAA0</cusip>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>Berry Global, Inc.</name>
        <lei>549300AP2Q7ERHX6RI89</lei>
        <title>Berry Global, Inc.</title>
        <cusip>08576BAB8</cusip>
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        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2021-SFR8, Class E1</title>
        <cusip>74333TAJ8</cusip>
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          <isin value="US74333TAJ88"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-17</maturityDt>
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          <annualizedRt>2.38200000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>Comcast Corp.</name>
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        <name>FNMA</name>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2020-K113 Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
        <lei>N/A</lei>
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          <isin value="US33843EAJ01"/>
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        <name>UBS AG</name>
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        <balance>688000.00000000</balance>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UDR, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
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        <identifiers>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HERO Funding III</name>
        <lei>N/A</lei>
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        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <name>FNMA</name>
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        <title>FNMA UMBS, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140FDB21</cusip>
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        <balance>1403418.70000000</balance>
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        <valUSD>1274407.23000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
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        <cusip>23344QAE9</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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      <invstOrSec>
        <name>FirstEnergy Transmission LLC</name>
        <lei>549300AINIIPOLYX2R63</lei>
        <title>FirstEnergy Transmission LLC</title>
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        <balance>777000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>Superior Plus LP</name>
        <lei>N/A</lei>
        <title>Superior Plus LP</title>
        <cusip>86828LAC6</cusip>
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        <balance>3859000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Avis Budget Car Rental LLC</name>
        <lei>N/A</lei>
        <title>Avis Budget Car Rental LLC</title>
        <cusip>053773BF3</cusip>
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          <isin value="US053773BF30"/>
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        <balance>1952000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1840561.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co.</title>
        <cusip>23338VAV8</cusip>
        <identifiers>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3409880.74000000</valUSD>
        <pctVal>0.014962777585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2024-2, Class D</title>
        <cusip>80286YAF9</cusip>
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          <isin value="US80286YAF97"/>
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        <balance>7941000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8152317.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SCF Equipment Leasing LLC</name>
        <lei>N/A</lei>
        <title>SCF Equipment Leasing LLC, Series 2023-1A, Class A3</title>
        <cusip>784024AC5</cusip>
        <identifiers>
          <isin value="US784024AC56"/>
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        <balance>19600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19801174.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.17000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140HSAH4</cusip>
        <identifiers>
          <isin value="US3140HSAH47"/>
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        <balance>281516.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>276143.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.88000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140X8XB8</cusip>
        <identifiers>
          <isin value="US3140X8XB83"/>
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        <balance>22138413.62000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18358078.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>20 Times Square Trust</name>
        <lei>N/A</lei>
        <title>20 Times Square Trust, Series 2018-20TS, Class F</title>
        <cusip>90137LAL4</cusip>
        <identifiers>
          <isin value="US90137LAL45"/>
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        <balance>23414363.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18731490.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.09989880</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2007-109, Class YI</title>
        <cusip>31396X2N3</cusip>
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          <isin value="US31396X2N33"/>
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        <balance>795523.54180000</balance>
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        <curCd>USD</curCd>
        <valUSD>81319.37000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.01354840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury STRIPS Bonds</title>
        <cusip>912834HV3</cusip>
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          <isin value="US912834HV38"/>
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        <balance>63558000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30076265.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF 2018-K082 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K82, Class X2A</title>
        <cusip>30297LAA0</cusip>
        <identifiers>
          <isin value="US30297LAA08"/>
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        <balance>569114286.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1460859.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chase Mortgage Finance Trust</name>
        <lei>N/A</lei>
        <title>Chase Mortgage Finance Trust, Series 2007-A2, Class 2A1</title>
        <cusip>16163LAD4</cusip>
        <identifiers>
          <isin value="US16163LAD47"/>
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        <balance>213503.37520000</balance>
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        <curCd>USD</curCd>
        <valUSD>212052.98000000</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>2035-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.67464120</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-KL05, Class CHG</title>
        <cusip>30311NAG5</cusip>
        <identifiers>
          <isin value="US30311NAG51"/>
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        <balance>11274229.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9963265.03000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29278NAR4</cusip>
        <identifiers>
          <isin value="US29278NAR44"/>
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        <balance>4854000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3923783.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
        <cusip>911365BR4</cusip>
        <identifiers>
          <isin value="US911365BR47"/>
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        <balance>3965000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4018959.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FXXF4</cusip>
        <identifiers>
          <isin value="US3140FXXF47"/>
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        <balance>43257367.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39357340.76000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
        <cusip>126307BH9</cusip>
        <identifiers>
          <isin value="US126307BH94"/>
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        <balance>2571000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1738334.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CR1</cusip>
        <identifiers>
          <isin value="US629377CR16"/>
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        <balance>614000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>556780.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blue Racer Midstream LLC</name>
        <lei>N/A</lei>
        <title>Blue Racer Midstream LLC</title>
        <cusip>095796AE8</cusip>
        <identifiers>
          <isin value="US095796AE85"/>
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        <balance>3170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3177978.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>Air Canada Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Air Canada Pass-Through Trust, Series 2017-1, Class AA</title>
        <cusip>00908PAA5</cusip>
        <identifiers>
          <isin value="US00908PAA57"/>
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        <balance>6097540.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5660290.42000000</valUSD>
        <pctVal>0.024837721046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>EchoStar Corp.</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>EchoStar Corp.</title>
        <cusip>278768AC0</cusip>
        <identifiers>
          <isin value="US278768AC00"/>
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        <balance>1330000.00000000</balance>
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        <name>AEP Transmission Co. LLC</name>
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        <name>RTX Corp.</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <name>Citigroup, Inc.</name>
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        <name>GNMA</name>
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        <name>Wells Fargo Mortgage-Backed Securities Trust</name>
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        <name>Baxter International, Inc.</name>
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        <name>Bioceanico Sovereign Certificate Ltd.</name>
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        <name>Banco Santander SA</name>
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        <name>Securitized Asset-Backed Receivables LLC Trust</name>
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        <name>Take-Two Interactive Software, Inc.</name>
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        <name>FNMA</name>
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        <name>Noble Finance II LLC</name>
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        <name>Seagate HDD Cayman</name>
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        <name>Anchor Mortgage Trust</name>
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        <name>Camden Property Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Grantor Trust, Whole Loan, Series 2004-T2, Class 1A4</title>
        <cusip>31393X7D3</cusip>
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          <isin value="US31393X7D37"/>
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        <balance>80865.82080000</balance>
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        <curCd>USD</curCd>
        <valUSD>81893.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Emera US Finance LP</name>
        <lei>N/A</lei>
        <title>Emera US Finance LP</title>
        <cusip>29103DAT3</cusip>
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          <isin value="US29103DAT37"/>
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        <balance>18635000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16045785.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Sigeco Securitization I LLC</name>
        <lei>N/A</lei>
        <title>Sigeco Securitization I LLC, Series A2</title>
        <cusip>82655KAB7</cusip>
        <identifiers>
          <isin value="US82655KAB70"/>
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        <balance>298000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>288884.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.17200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
        <lei>54930043I78H35DVVW89</lei>
        <title>Entergy Mississippi LLC</title>
        <cusip>29366WAD8</cusip>
        <identifiers>
          <isin value="US29366WAD83"/>
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        <balance>3252000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3209817.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3592, Class BZ</title>
        <cusip>31398KFF2</cusip>
        <identifiers>
          <isin value="US31398KFF21"/>
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        <balance>963618.46090000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>982177.17000000</valUSD>
        <pctVal>0.004309857049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36202FMV5</cusip>
        <identifiers>
          <isin value="US36202FMV57"/>
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        <balance>114188.86000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117473.87000000</valUSD>
        <pctVal>0.000515482951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PG&amp;E Wildfire Recovery Funding LLC</name>
        <lei>N/A</lei>
        <title>PG&amp;E Wildfire Recovery Funding LLC, Series A-4</title>
        <cusip>693342AJ6</cusip>
        <identifiers>
          <isin value="US693342AJ65"/>
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        <balance>777000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>717663.00000000</valUSD>
        <pctVal>0.003149151735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ovintiv, Inc.</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv, Inc.</title>
        <cusip>69047QAC6</cusip>
        <identifiers>
          <isin value="US69047QAC69"/>
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        <balance>5620000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5627566.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ball Corp.</name>
        <lei>0BGI85ALH27ZJP15DY16</lei>
        <title>Ball Corp.</title>
        <cusip>058498AZ9</cusip>
        <identifiers>
          <isin value="US058498AZ97"/>
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        <balance>3791000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3866076.96000000</valUSD>
        <pctVal>0.016964596151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TotalEnergies Capital International SA</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>TotalEnergies Capital International SA</title>
        <cusip>89153VAV1</cusip>
        <identifiers>
          <isin value="US89153VAV18"/>
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        <balance>6549000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4198631.35000000</valUSD>
        <pctVal>0.018423866358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Union Electric Co.</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>Union Electric Co.</title>
        <cusip>906548CY6</cusip>
        <identifiers>
          <isin value="US906548CY62"/>
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        <balance>2310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2309132.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Protective Life Global Funding</name>
        <lei>635400EVYITCJYWL2I50</lei>
        <title>Protective Life Global Funding</title>
        <cusip>74368CBH6</cusip>
        <identifiers>
          <isin value="US74368CBH60"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1436106.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.30300000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Moran Foods LLC</name>
        <lei>N/A</lei>
        <title>Moran Foods LLC, 1st Lien Term Loan</title>
        <cusip>61647DAY8</cusip>
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          <isin value="US61647DAY85"/>
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        <balance>238601.31030000</balance>
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        <curCd>USD</curCd>
        <valUSD>238601.31000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>12.69710000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140FXSX1</cusip>
        <identifiers>
          <isin value="US3140FXSX18"/>
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        <balance>16654881.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13910156.65000000</valUSD>
        <pctVal>0.061038668504</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2013-H23, Class FA</title>
        <cusip>38375B8G0</cusip>
        <identifiers>
          <isin value="US38375B8G05"/>
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        <balance>275345.11550000</balance>
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        <curCd>USD</curCd>
        <valUSD>279001.89000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-09-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.73343920</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140N4DC8</cusip>
        <identifiers>
          <isin value="US3140N4DC81"/>
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        <balance>11983307.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11678771.72000000</valUSD>
        <pctVal>0.051247206878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31406YB58</cusip>
        <identifiers>
          <isin value="US31406YB588"/>
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        <balance>36447.28000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37045.36000000</valUSD>
        <pctVal>0.000162557439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.58599840</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
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        <name>BBCCRE Trust</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>CNO Global Funding</name>
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        <name>FHLMC</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>FHLMC</name>
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        <name>Diversified Abs Phase VI LLC</name>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>United States of America</name>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>PRPM LLC</name>
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        <name>MV24 Capital BV</name>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>Eaton Corp.</name>
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        <name>FNMA</name>
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        <name>Canadian Pacific Railway Co.</name>
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        <name>Six Flags Entertainment Corp.</name>
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      <invstOrSec>
        <name>Entergy Mississippi LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Rockies Express Pipeline LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Progress LLC</name>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>Altar Bidco, Inc.</name>
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        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <invCountry>FR</invCountry>
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        <name>Fibercop SpA</name>
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        <invCountry>IT</invCountry>
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        <name>MASTR Alternative Loan Trust</name>
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        <name>Burlington Northern Santa Fe LLC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FHLMC</name>
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        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>Duke Energy Florida LLC</title>
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        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Republic of Colombia</title>
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        <invCountry>CO</invCountry>
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        <name>Goodgreen</name>
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        <cusip>38217DAA8</cusip>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2061-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>ITC Holdings Corp.</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LendingPoint Asset Securitization Trust</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
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        <name>Boeing Co. (The)</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Multifamily Connecticut Avenue Securities Trust</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
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        <name>Constellation Energy Generation LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
        <title>Constellation Energy Generation LLC</title>
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        <name>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC, 1st Lien Term Loan</title>
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        <name>Crescent Energy Finance LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
        <title>Crescent Energy Finance LLC</title>
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        <name>Morgan Stanley</name>
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        <name>Prologis LP</name>
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        <name>FHLMC</name>
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        <name>ReadyCap Holdings LLC</name>
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        <name>MPLX LP</name>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
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        <name>Citibank NA</name>
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          <maturityDt>2028-09-29</maturityDt>
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        <name>Genesys Cloud Services, Inc.</name>
        <lei>N/A</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <name>NiSource, Inc.</name>
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        <name>SM Energy Co.</name>
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        <name>Union Electric Co.</name>
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        <title>Union Electric Co.</title>
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        <name>CWABS, Inc. Asset-Backed Certificates Trust</name>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>KeyCorp</name>
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      <invstOrSec>
        <name>FHLMC</name>
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      <invstOrSec>
        <name>FREMF 2020-K739 Mortgage Trust</name>
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      <invstOrSec>
        <name>CARS-DB4 LP</name>
        <lei>N/A</lei>
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        <name>Altria Group, Inc.</name>
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        <name>Nexstar Media, Inc.</name>
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        <name>ABN AMRO Bank NV</name>
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        <name>Ameren Illinois Co.</name>
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        <name>Carnival Corp.</name>
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        <name>FNMA</name>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
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          <isin value="US90353TAQ31"/>
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        <balance>1440000.00000000</balance>
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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>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GZR8</cusip>
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        <balance>7466000.00000000</balance>
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        <curCd>USD</curCd>
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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>2028-03-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GAM Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>GAM Re-REMIC Trust, Series 2022-FRR3, Class CK89</title>
        <cusip>36459DCS8</cusip>
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          <isin value="US36459DCS80"/>
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        <balance>8540000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2052-01-27</maturityDt>
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      <invstOrSec>
        <name>Trane Technologies Co. LLC</name>
        <lei>549300S2NUDMTQBEXQ18</lei>
        <title>Trane Technologies Co. LLC</title>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36202FQR0</cusip>
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          <isin value="US36202FQR00"/>
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        <balance>11030.57000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11347.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2023-5A, Class D</title>
        <cusip>30168DAF3</cusip>
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        <balance>20049000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.13000000</annualizedRt>
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      <invstOrSec>
        <name>CVS Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CVS Pass-Through Trust</title>
        <cusip>126650BV1</cusip>
        <identifiers>
          <isin value="US126650BV16"/>
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        <balance>241129.02050000</balance>
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        <curCd>USD</curCd>
        <valUSD>238834.03000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.77300000</annualizedRt>
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      <invstOrSec>
        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
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        <balance>15150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15189511.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Baker Hughes Holdings LLC</name>
        <lei>N/A</lei>
        <title>Baker Hughes Holdings LLC</title>
        <cusip>05723KAF7</cusip>
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        <balance>1864000.00000000</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>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.08000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2004-72, Class F</title>
        <cusip>31394AB21</cusip>
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          <isin value="US31394AB214"/>
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        <balance>20521.80030000</balance>
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        <curCd>USD</curCd>
        <valUSD>20457.49000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.93644960</annualizedRt>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>549300QVJKB4ZVR88F06</lei>
        <title>Foundation Finance Trust, Series 2020-1A, Class B</title>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140HU4K9</cusip>
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          <isin value="US3140HU4K93"/>
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        <balance>10320394.63000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2022-5, Class D</title>
        <cusip>80287HAF5</cusip>
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          <isin value="US80287HAF55"/>
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        <balance>35600000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CFIN 2022-RTL1 Issuer LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="O1FB0E2"/>
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        <balance>2015000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2027-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Topgolf Callaway Brands Corp.</name>
        <lei>5493005UB0KFRKBPCU72</lei>
        <title>Topgolf Callaway Brands Corp., 1st Lien Term Loan</title>
        <cusip>89071LAB6</cusip>
        <identifiers>
          <isin value="US89071LAB62"/>
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        <balance>3229622.16820000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.32681000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Connecticut Light and Power Co. (The)</name>
        <lei>549300O45IUXEDS1VZ32</lei>
        <title>Connecticut Light and Power Co. (The)</title>
        <cusip>207597EL5</cusip>
        <identifiers>
          <isin value="US207597EL50"/>
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        <balance>1637000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1252038.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2022-3, Class C</title>
        <cusip>68378PAC9</cusip>
        <identifiers>
          <isin value="US68378PAC95"/>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>FirstEnergy Corp.</name>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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      <invstOrSec>
        <name>Raizen Fuels Finance SA</name>
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      <invstOrSec>
        <name>Six Flags Entertainment Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>MGM Resorts International</name>
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        <name>Madison IAQ LLC</name>
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        <name>EIDP, Inc.</name>
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        <name>Commercial Mortgage Trust</name>
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          <isin value="US12593JBF21"/>
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        <name>FNMA</name>
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        <name>Viterra Finance BV</name>
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        <name>Essex Portfolio LP</name>
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        <name>JBS USA Holding Lux SARL</name>
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        <name>Charter Communications Operating LLC</name>
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        <name>Republic of Cote d'Ivoire</name>
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        <name>GNMA</name>
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        <name>Grene Energy Senio</name>
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        <title>Grene Energy Senio</title>
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        <name>Arab Republic of Egypt</name>
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        <title>Arab Republic of Egypt</title>
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        <name>FHLMC</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>FREMF 2018-K84 Mortgage Trust</name>
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        <name>Transocean, Inc.</name>
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        <name>INEOS Quattro Finance 2 plc</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>FHLMC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>NuStar Logistics LP</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>FHLMC MSCR Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <cusip>3137H7QH9</cusip>
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        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SE9</cusip>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3138WJHM3</cusip>
        <identifiers>
          <isin value="US3138WJHM31"/>
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        <balance>3635771.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3500448.35000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>6174468U6</cusip>
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        <balance>4918000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.79400000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3138XD3X6</cusip>
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        <balance>1519291.20000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Matador Resources Co.</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co.</title>
        <cusip>576485AH9</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36193UAE4</cusip>
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        <balance>780976.81000000</balance>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-20</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3132QUUJ0</cusip>
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        <balance>1540566.82000000</balance>
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        <valUSD>1402743.17000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3542, Class TN</title>
        <cusip>31398EDW1</cusip>
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        <balance>8618.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8870.83000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.00000120</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LHOME Mortgage Trust, Series 2023-RTL2, Class A1</title>
        <cusip>50205BAA1</cusip>
        <identifiers>
          <isin value="US50205BAA17"/>
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        <balance>16800000.00000000</balance>
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        <valUSD>16868033.28000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
          <maturityDt>2028-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.99999920</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 19K-1511, Class C</title>
        <cusip>30309KAN0</cusip>
        <identifiers>
          <isin value="US30309KAN00"/>
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        <name>Federal Republic of Nigeria</name>
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        <name>Southwestern Electric Power Co.</name>
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        <name>FHLMC</name>
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        <name>Glencore Funding LLC</name>
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        <name>FNMA</name>
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        <name>Aqua Finance Trust</name>
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        <name>FHLMC</name>
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        <name>TransDigm, Inc.</name>
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        <name>PG&amp;E Recovery Funding LLC</name>
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        <name>Amgen, Inc.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Sysco Corp.</name>
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        <name>FIEMEX Energia - Banco Actinver SA Institucion de Banca Multiple</name>
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        <invCountry>MX</invCountry>
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        <name>Vistra Operations Co. LLC</name>
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        <name>Terex Corp.</name>
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        <name>Fibercop SpA</name>
        <lei>8156007022402E114A31</lei>
        <title>Fibercop SpA, Series 2033</title>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>SM Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Texas Natural Gas Securitization Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-04-01</maturityDt>
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        <name>HCFT</name>
        <lei>N/A</lei>
        <title>HCFT</title>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>United States Cellular Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>KDC/ONE Development Corp., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Foundation Finance Trust</name>
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        <name>Miter Brands Acquisition Holdco, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Baltimore Gas and Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
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        <name>Diamond Resorts Owner Trust</name>
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        <name>VOLT XCVII LLC</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Stagwell Global LLC</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>Comcast Corp.</name>
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        <name>Seagate HDD Cayman</name>
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        <name>FNMA</name>
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        <name>Enel Finance International NV</name>
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        <name>FNMA</name>
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        <name>Star Parent, Inc.</name>
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        <name>Lendmark Funding Trust</name>
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        <name>Republic of Kenya</name>
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        <name>Pfizer, Inc.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Quikrete Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Mid-Atlantic Interstate Transmission LLC</name>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Citigroup, Inc.</name>
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        <name>Structured Asset Securities Corp. Mortgage Pass-Through Certificates</name>
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        <name>GNMA</name>
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        <name>Comision Federal de Electricidad</name>
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        <name>Florida Power &amp; Light Co.</name>
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        <name>FNMA</name>
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        <name>British Airways Pass-Through Trust</name>
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        <name>Citibank Credit Card Issuance Trust</name>
        <lei>R8AG6FXVDQAMDKCSJJ64</lei>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2021-R1, Class A2C</title>
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      <invstOrSec>
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        <name>FHLMC</name>
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        <name>Cooper-Standard Automotive, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FNMA</name>
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        <name>CoreVest American Finance Trust</name>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>Public Service Electric and Gas Co.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
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        <name>Series RR Trust</name>
        <lei>54930042MWG761INJ863</lei>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Northern States Power Co.</name>
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        <name>Capital One Financial Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
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      <invstOrSec>
        <name>Hillenbrand, Inc.</name>
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        <name>UDR, Inc.</name>
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        <name>GNMA</name>
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        <name>FREMF Mortgage Trust</name>
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        <name>Expand Energy Corp.</name>
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        <name>Exelon Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>CHL Mortgage Pass-Through Trust</name>
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        <name>Phoenix Newco, Inc.</name>
        <lei>254900PHGVI5379Z9791</lei>
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        <name>CaixaBank SA</name>
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        <name>Stream Innovations Issuer Trust</name>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>FNMA</name>
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        <name>KBC Group NV</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arizona Public Service Co.</name>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>MPLX LP</name>
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        <title>MPLX LP</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
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        <title>HSBC Holdings plc</title>
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        <balance>1250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-03</maturityDt>
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        <balance>6840000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Sequoia Mortgage Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <name>NGL Energy Operating LLC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
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        <name>NYMT Loan Trust</name>
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        <cusip>67119RAA5</cusip>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2009-79, Class OK</title>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
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          <other otherDesc="Inhouse Sedol" value="WNU5COM"/>
          <other otherDesc="Future Ticker" value="WNU5 Comdty"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Republic of Cote d'Ivoire</name>
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        <name>FNMA</name>
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        <name>Shutterfly Finance LLC</name>
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        <name>FNMA</name>
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        <name>ILFC E-Capital Trust I</name>
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        <name>Graham Packaging Co., Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>iHeartCommunications, Inc.</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>iHeartCommunications, Inc.</title>
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        <name>FREMF Mortgage Trust</name>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
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        <title>Iron Mountain, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commonwealth Edison Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
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      <invstOrSec>
        <name>Pagaya AI Technology in Housing Trust</name>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US3618AW2Y95"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MVW LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36202EWE5</cusip>
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          <isin value="US36202EWE57"/>
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        <balance>36306.65000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38466.05000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>ACCO Brands Corp.</name>
        <lei>JCT8P4Y190IH4I1NX328</lei>
        <title>ACCO Brands Corp.</title>
        <cusip>00081TAK4</cusip>
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        <balance>6668000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lendmark Funding Trust</name>
        <lei>N/A</lei>
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        <cusip>52604QAE3</cusip>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2034-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>31335AGX0</cusip>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TEGNA, Inc.</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA, Inc.</title>
        <cusip>87901JAJ4</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2003-64, Class SX</title>
        <cusip>31393DJU6</cusip>
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        <balance>8451.08430000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Edgewell Personal Care Co.</name>
        <lei>549300CY8QZDL4Z3RU59</lei>
        <title>Edgewell Personal Care Co.</title>
        <cusip>28035QAA0</cusip>
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        <balance>4937000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2004-19, Class KE</title>
        <cusip>38374FTH7</cusip>
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        <balance>773077.45510000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Acrc</name>
        <lei>549300VGHLH24T0B8529</lei>
        <title>Acrc</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="99TTP7THK"/>
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        <balance>29333333.33000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28160000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3138W4CS8</cusip>
        <identifiers>
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        <name>FHLMC</name>
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        <name>MH Sub I LLC</name>
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        <name>CoreWeave, Inc.</name>
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        <name>ACRE Commercial Mortgage Ltd.</name>
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        <name>KeyCorp</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NRZ FHT Excess LLC</name>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
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        <name>Alternative Loan Trust</name>
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        <name>BPCE SA</name>
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        <name>Rite Aid Corp.</name>
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        <name>BAMLL Re-REMIC Trust</name>
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        <name>Central Parent LLC</name>
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        <name>GNMA</name>
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        <name>Bank of America Corp.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Vendee Mortgage Trust</name>
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        <name>FHLMC</name>
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        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>Entergy Texas Restoration Funding II LLC</name>
        <lei>N/A</lei>
        <title>Entergy Texas Restoration Funding LLC, Series A-2</title>
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        <name>Columbia Pipelines Holding Co. LLC</name>
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        <name>Elastic NV</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>DTE Electric Co.</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>FNMA</name>
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        <name>Roper Technologies, Inc.</name>
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        <name>VOLT XCIX LLC</name>
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        <name>Cooper-Standard Automotive, Inc.</name>
        <lei>ITCH5B3Q4RTX2PH9UN62</lei>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>BG Beta I Ltd.</name>
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        <title>BG Beta Ltd.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>36193UAG9</cusip>
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        <name>FNMA</name>
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        <name>OneMain Finance Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>1261229 BC Ltd.</name>
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        <name>Home Partners of America Trust</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>Octane Receivables Trust</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC UMBS, 30 Year</title>
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        <name>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
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        <invCountry>US</invCountry>
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        <name>GNMA</name>
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        <name>FHLMC</name>
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        <name>CFIN Issuer LLC</name>
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        <name>Bear Stearns Asset-Backed Securities Trust</name>
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        <name>FNMA</name>
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        <name>Sirius XM Radio LLC</name>
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        <name>Oracle Corp.</name>
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        <name>Block, Inc.</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block, Inc.</title>
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        <name>Guardian Life Global Funding</name>
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        <title>Guardian Life Global Funding</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Banque Federative du Credit Mutuel SA</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA</title>
        <cusip>06675FAY3</cusip>
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        <balance>6030000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>United States Steel Corp.</name>
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        <name>FNMA</name>
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        <name>Oracle Corp.</name>
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        <name>Emera US Finance LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Seasoned Credit Risk Transfer Trust</name>
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        <name>Amer Sports Co.</name>
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        <name>BAT Capital Corp.</name>
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        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc.</title>
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        <name>FHLMC</name>
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        <name>Goodleap  jul42</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MRCD MARK Mortgage Trust</name>
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      <invstOrSec>
        <name>DTE Energy Co.</name>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>Graphic Packaging International LLC</name>
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        <name>US Bancorp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Newell Brands, Inc.</name>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>XPO, Inc.</name>
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        <name>Guara Norte SARL</name>
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        <title>Guara Norte SARL</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FNMA</name>
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        <name>HERO Funding Trust</name>
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        <name>Uber Technologies, Inc.</name>
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        <name>BNP Paribas SA</name>
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        <name>Duke Energy Corp.</name>
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        <name>Nabors Industries, Inc.</name>
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        <name>HCA, Inc.</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <name>FNMA</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Retium-rcaf  mar25 144a</name>
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        <name>Sensata Technologies, Inc.</name>
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        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>Duke Energy Carolinas LLC</title>
        <cusip>26442CBL7</cusip>
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        <name>San Diego Gas &amp; Electric Co.</name>
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        <name>Standard Industries, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>AMSR Trust</name>
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        <name>FNMA</name>
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        <name>SM Energy Co.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>FMC GMSR Issuer Trust</name>
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      <invstOrSec>
        <name>FREMF 17-K68 Mortgage Trust</name>
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        <name>NCR Atleos Corp.</name>
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      <invstOrSec>
        <name>Bimbo Bakeries USA, Inc.</name>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <name>Home Depot, Inc. (The)</name>
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        <name>Rocket Mortgage LLC</name>
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        <name>FNMA</name>
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        <name>Moran Foods Backstop Equity</name>
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        <name>FREMF 2017-K69 Mortgage Trust</name>
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        <name>OneMain Finance Corp.</name>
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        <name>Lamar Media Corp.</name>
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        <name>FNMA</name>
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        <name>Commonwealth Edison Co.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>TotalEnergies Capital SA</name>
        <lei>529900QI55ZLJVCMPA71</lei>
        <title>TotalEnergies Capital SA</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>Atmos Energy Corp.</name>
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        <name>Massachusetts Electric Co.</name>
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        <name>FNMA</name>
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        <name>Dominican Republic</name>
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        <name>FHLMC Pool</name>
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        <name>Truist Financial Corp.</name>
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        <name>UDR, Inc.</name>
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        <name>National Rural Utilities Cooperative Finance Corp.</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp.</title>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
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      <invstOrSec>
        <name>ReadyCap Holdings LLC</name>
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      <invstOrSec>
        <name>FHLMC</name>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
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      <invstOrSec>
        <name>GNMA</name>
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      <invstOrSec>
        <name>FREMF 2020-K122 Mortgage Trust</name>
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      <invstOrSec>
        <name>HERO Funding</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <name>Energy Transfer LP</name>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust, Series 2022-2A, Class D</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140LDLA5</cusip>
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      <invstOrSec>
        <name>Washington Mutual MSC Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
        <title>Washington Mutual MSC Mortgage Pass-Through Certificates Trust, Series 2004-RA1, Class 2A</title>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140EXJP9</cusip>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PG&amp;E Recovery Funding LLC</name>
        <lei>N/A</lei>
        <title>PG&amp;E Recovery Funding LLC, Series A-3</title>
        <cusip>71710TAF5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140XMUL8</cusip>
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        <balance>8691313.50000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3138LXZX0</cusip>
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        <balance>346695.04000000</balance>
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        <name>Conair Holdings LLC</name>
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        <name>FNMA</name>
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        <name>MASTR Asset Securitization Trust</name>
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        <name>Calpine Corp.</name>
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        <name>Ventas Realty LP</name>
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        <name>Baltimore Gas and Electric Co.</name>
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        <name>United States of America</name>
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        <name>Chart Industries, Inc.</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>Duke Energy Indiana LLC</name>
        <lei>6URPHM2EAWGJ2C6ISB97</lei>
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        <name>GNMA</name>
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        <name>UBS Group AG</name>
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        <name>Arbor Realty Trust, Inc.</name>
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        <name>Federal Republic of Nigeria</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>Aqua Finance Trust</name>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <name>FHLMC Pool</name>
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        <name>FHLMC Pool</name>
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        <name>United States of America</name>
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        <name>Progress Residential Trust</name>
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        <name>FNMA</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>Bank of America Corp.</name>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3617KJP73</cusip>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Alliant Energy Finance LLC</name>
        <lei>54930033ER6EOI5DL570</lei>
        <title>Alliant Energy Finance LLC</title>
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        <name>Jonah Energy Abs I LLC</name>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <name>Marvell Technology, Inc.</name>
        <lei>N/A</lei>
        <title>Marvell Technology, Inc.</title>
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          <maturityDt>2031-04-15</maturityDt>
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          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2019-2, Class AA</title>
        <cusip>90932JAA0</cusip>
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        <name>Westgate Resorts LLC</name>
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        <name>FNMA</name>
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        <name>Ecopetrol SA</name>
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        <name>FNMA</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>Medline Borrower LP</name>
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        <name>FNMA</name>
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        <name>William Carter Co. (The)</name>
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        <name>FNMA</name>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <name>FirstKey Homes Trust</name>
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      <invstOrSec>
        <name>Evergy Missouri West Storm Funding I LLC</name>
        <lei>N/A</lei>
        <title>Evergy Missouri West Storm Funding I LLC, Series A-1</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eastern Energy Gas Holdings LLC</name>
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      <invstOrSec>
        <name>BPCE SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HINNT LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Series 2004-UST1, Class A3</title>
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          <isin value="US17307GLA49"/>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NRZ Excess Spread-Collateralized Notes</name>
        <lei>N/A</lei>
        <title>NRZ Excess Spread-Collateralized Notes, Series 2020-PLS1, Class A</title>
        <cusip>433674AA6</cusip>
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          <isin value="US433674AA63"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.84400000</annualizedRt>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
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          <isin value="US097023DQ55"/>
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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>Istanbul Metropolitan Municipality</name>
        <lei>213800T1VDQSNKA2MD76</lei>
        <title>Istanbul Metropolitan Municipality</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
        <lei>N/A</lei>
        <title>American Airlines, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.75000000</annualizedRt>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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          <isin value="US718172DJ54"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Areit Frn</name>
        <lei>N/A</lei>
        <title>Areit Frn</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="99T6BAPRR"/>
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        <balance>30000000.00000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Center Street Lending Resi-Investor ABS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Center Street Lending Resi-Investor ABS Mortgage Trust, Series 2024-RTL1, Class A2</title>
        <cusip>15169CAB4</cusip>
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          <isin value="US15169CAB46"/>
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        <balance>8691000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>COOF Securitization Trust Ltd.</name>
        <lei>N/A</lei>
        <title>COOF Securitization Trust Ltd., Series 2014-1, Class A</title>
        <cusip>12631UAA3</cusip>
        <identifiers>
          <isin value="US12631UAA34"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.31300080</annualizedRt>
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      <invstOrSec>
        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp., 1st Lien Term Loan</title>
        <cusip>P2121YAX6</cusip>
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          <isin value="XAP2121YAX66"/>
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        <balance>3289435.19880000</balance>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-09</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFG5</cusip>
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          <isin value="US61747YFG52"/>
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        <balance>7854000.00000000</balance>
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        <valUSD>7924808.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.42400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AI Candelaria -spain- SA</name>
        <lei>213800L5KA2MJ5FKRZ02</lei>
        <title>AI Candelaria -spain- SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USE0R75QAA61"/>
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        <balance>803247.47160000</balance>
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        <curCd>USD</curCd>
        <valUSD>789190.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <name>MEG Energy Corp.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>TransCanada PipeLines Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <name>MH Sub I LLC</name>
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        <name>Prime Mortgage Trust</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <name>AMSR Trust</name>
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        <name>United States of America</name>
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        <name>Duke Energy Florida LLC</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Metropolitan Life Insurance Co.</name>
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        <name>Claire's Stores, Inc.</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA ACES, Series 2023-M1S, Class A2</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>31410LMM1</cusip>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
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      <invstOrSec>
        <name>FW Energy Asset Issuer LLC</name>
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        <name>Global Infrastructure Solutions, Inc.</name>
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        <title>Global Infrastructure Solutions, Inc.</title>
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        <name>Realty Income Corp.</name>
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        <name>Ontario Teachers' Cadillac Fairview Properties Trust</name>
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        <name>Bristol-Myers Squibb Co.</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Public Service Enterprise Group, Inc.</name>
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        <name>FNMA</name>
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        <name>PHH Mortgage Trust</name>
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        <name>GNMA</name>
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        <name>ON Semiconductor Corp.</name>
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        <name>Standard Chartered plc</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Cascade Funding Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Cascade Funding Mortgage Trust, Series 2021-FRR1, Class CK54</title>
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        <name>United States of America</name>
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        <name>Republic of Colombia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Organon &amp; Co.</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Seagate HDD Cayman</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>Ford Motor Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Adjustable Rate Mortgages Trust</name>
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        <name>FHLMC Pool</name>
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        <name>Visa, Inc.</name>
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        <name>UBS Group AG</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>GNMA</name>
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        <name>AutoZone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Hertz Vehicle Financing III LLC</name>
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        <name>Diamond Foreign Asset Co.</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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      <invstOrSec>
        <name>FHLMC Multi-Family Structured Credit Risk</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Entergy Texas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lithia Motors, Inc.</name>
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        <balance>1612000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
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          <isin value="US3133KMNS07"/>
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        <balance>7940104.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6547265.73000000</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>2051-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
        <cusip>3140HUW69</cusip>
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          <isin value="US3140HUW698"/>
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        <balance>4344083.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3944362.59000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.84000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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          <isin value="US89788MAN20"/>
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        <balance>7816000.00000000</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>
        <debtSec>
          <maturityDt>2027-06-08</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
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        <balance>3882979.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Bridge Trust</name>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>FirstKey Homes Trust</name>
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          <maturityDt>2037-10-19</maturityDt>
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          <annualizedRt>3.01700000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140JHN66</cusip>
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          <isin value="US3140JHN666"/>
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        <balance>5795844.05000000</balance>
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        <name>TransDigm, Inc.</name>
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        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
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        <invCountry>CA</invCountry>
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        <name>GFL Environmental, Inc.</name>
        <lei>549300FYK4MBXWIVZU26</lei>
        <title>GFL Environmental, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC Trust, Whole Loan, Series 2004-W11, Class 11</title>
        <cusip>31394AB88</cusip>
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        <balance>6288026.45900000</balance>
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        <curCd>USD</curCd>
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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>2044-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.34647840</annualizedRt>
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      <invstOrSec>
        <name>BAMLL Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Re-REMIC Trust, Series 2025-FRR5, Class DK86</title>
        <cusip>05494BBG1</cusip>
        <identifiers>
          <isin value="US05494BBG14"/>
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        <balance>7496000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5753922.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>GNMA</name>
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        <name>GNMA</name>
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        <name>Simon Property Group LP</name>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>UniCredit SpA</name>
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        <name>McDonald's Corp.</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GNMA</name>
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        <name>RTX Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX Corp.</title>
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        <name>Quest Diagnostics, Inc.</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>Quest Diagnostics, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
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        <name>FNMA</name>
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        <name>American Airlines, Inc.</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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          <couponKind>None</couponKind>
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        <name>FHLMC Pool</name>
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          <isin value="US3132DVMB89"/>
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          <couponKind>Fixed</couponKind>
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        <name>Mid-America Apartments LP</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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          <couponKind>Variable</couponKind>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>JPMorgan Mortgage Trust</name>
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        <name>Mid-State Capital Corp. Trust</name>
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        <name>Mid-State Capital Corp. Trust</name>
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        <name>UKG, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>3140QEXT4</cusip>
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        <issuerCat>USGSE</issuerCat>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Other</title>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
        <cusip>842400JH7</cusip>
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        <balance>1423000.00000000</balance>
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        <name>Alabama Power Co.</name>
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        <name>FMC GMSR Issuer Trust</name>
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        <name>Banco Nacional de Comercio Exterior SNC</name>
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        <name>Civitas Resources, Inc.</name>
        <lei>IIVIHPH28S64K95M2381</lei>
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        <name>Civitas Resources, Inc.</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA Trust, Whole Loan, Series 2005-W4, Class 1A1</title>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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          <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>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967AR2</cusip>
        <identifiers>
          <isin value="US172967AR23"/>
        </identifiers>
        <balance>814000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>857532.87000000</valUSD>
        <pctVal>0.003762909786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>Albertsons Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Albertsons Cos., Inc.</title>
        <cusip>013092AB7</cusip>
        <identifiers>
          <isin value="US013092AB74"/>
        </identifiers>
        <balance>3893000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3889508.37000000</valUSD>
        <pctVal>0.017067414696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
        <cusip>86765KAC3</cusip>
        <identifiers>
          <isin value="US86765KAC36"/>
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        <balance>3235000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3363607.43000000</valUSD>
        <pctVal>0.014759727303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
        <cusip>3620AR5U1</cusip>
        <identifiers>
          <isin value="US3620AR5U19"/>
        </identifiers>
        <balance>88073.72000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89119.01000000</valUSD>
        <pctVal>0.000391059989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>Tricon American Homes Trust</name>
        <lei>N/A</lei>
        <title>Tricon American Homes Trust, Series 2019-SFR1, Class F</title>
        <cusip>89612LAF3</cusip>
        <identifiers>
          <isin value="US89612LAF31"/>
        </identifiers>
        <balance>6796000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6677676.88000000</valUSD>
        <pctVal>0.029302078741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.74500000</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>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2024-1A, Class A</title>
        <cusip>68377JAA8</cusip>
        <identifiers>
          <isin value="US68377JAA88"/>
        </identifiers>
        <balance>368633.53000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>368703.79000000</valUSD>
        <pctVal>0.001617896115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.33400000</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>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738ECE3</cusip>
        <identifiers>
          <isin value="US06738ECE32"/>
        </identifiers>
        <balance>17880000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19993483.23000000</valUSD>
        <pctVal>0.087732699626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.43700000</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>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162DS6</cusip>
        <identifiers>
          <isin value="US031162DS61"/>
        </identifiers>
        <balance>3883000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3768305.89000000</valUSD>
        <pctVal>0.016535570362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</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>Baytex Energy Corp.</name>
        <lei>549300R5LTV2H7I1I079</lei>
        <title>Baytex Energy Corp.</title>
        <cusip>07317QAJ4</cusip>
        <identifiers>
          <isin value="US07317QAJ40"/>
        </identifiers>
        <balance>5036000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4879637.74000000</valUSD>
        <pctVal>0.021412166514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>780153BV3</cusip>
        <identifiers>
          <isin value="US780153BV38"/>
        </identifiers>
        <balance>3504000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3516577.47000000</valUSD>
        <pctVal>0.015430969748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>ACC Trust</name>
        <lei>N/A</lei>
        <title>ACC Trust, Series 2022-1, Class C</title>
        <cusip>00091HAC6</cusip>
        <identifiers>
          <isin value="US00091HAC60"/>
        </identifiers>
        <balance>8890898.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2605217.43000000</valUSD>
        <pctVal>0.011431862853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.24000000</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>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
        <cusip>46284VAQ4</cusip>
        <identifiers>
          <isin value="US46284VAQ41"/>
        </identifiers>
        <balance>2070000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2089441.44000000</valUSD>
        <pctVal>0.009168604396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier, Inc.</title>
        <cusip>097751BX8</cusip>
        <identifiers>
          <isin value="US097751BX80"/>
        </identifiers>
        <balance>5515000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5511393.02000000</valUSD>
        <pctVal>0.024184349609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 20 Year</title>
        <cusip>3140J76C4</cusip>
        <identifiers>
          <isin value="US3140J76C43"/>
        </identifiers>
        <balance>4409979.17000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4331136.46000000</valUSD>
        <pctVal>0.019005307365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
        <cusip>29336UAC1</cusip>
        <identifiers>
          <isin value="US29336UAC18"/>
        </identifiers>
        <balance>9205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8213475.14000000</valUSD>
        <pctVal>0.036041260997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
        <cusip>31418EBS8</cusip>
        <identifiers>
          <isin value="US31418EBS81"/>
        </identifiers>
        <balance>85904428.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70227411.71000000</valUSD>
        <pctVal>0.308162432039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Hillenbrand, Inc.</name>
        <lei>U246OE781574J2BUD366</lei>
        <title>Hillenbrand, Inc.</title>
        <cusip>431571AF5</cusip>
        <identifiers>
          <isin value="US431571AF58"/>
        </identifiers>
        <balance>1255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1259331.01000000</valUSD>
        <pctVal>0.005526026053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>








    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust II</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
