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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dominion Energy, Inc.</name>
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        <name>Cigna Corp.</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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      <invstOrSec>
        <name>Prime Security Services Borrower LLC</name>
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        <title>Prime Security Services Borrower LLC, First Lien Term Loan B1</title>
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        <name>Cheniere Corpus Christi Holdings LLC</name>
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        <name>Orange SA</name>
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        <title>Orange SA</title>
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        <name>Gabonese Republic</name>
        <lei>N/A</lei>
        <title>Gabonese Republic</title>
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        <name>Zayo Group Holdings, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jefferies Finance LLC</name>
        <lei>N/A</lei>
        <title>Jefferies Finance LLC, Term Loan</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prosper Pass-Thru Trust III</name>
        <lei>N/A</lei>
        <title>Prosper Pass-Thru Trust III, Series 2020-PT1, Class A</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Yara International ASA</name>
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        <title>Yara International ASA</title>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-04</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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          <isin value="US31371LFW46"/>
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        <balance>38887.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46019.47000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BlueMountain CLO Ltd.</name>
        <lei>N/A</lei>
        <title>BlueMountain CLO Ltd., Series 2018-1A, Class B</title>
        <cusip>09629TAG3</cusip>
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          <isin value="US09629TAG31"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-30</maturityDt>
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      <invstOrSec>
        <name>Verso Corp.</name>
        <lei>549300FODXCTQ8DGT594</lei>
        <title>Verso Corp., Class A</title>
        <cusip>92531L207</cusip>
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          <isin value="US92531L2079"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Neuberger Berman Loan Advisers CLO 27 Ltd.</name>
        <lei>549300IWMW28G8CR9G28</lei>
        <title>Neuberger Berman Loan Advisers CLO 27 Ltd., Series 2018-27A, Class C</title>
        <cusip>64131WAG2</cusip>
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          <isin value="US64131WAG24"/>
          <other otherDesc="Inhouse Asset ID" value="683432"/>
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        <balance>4900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4696024.36000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31409U5B7</cusip>
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          <isin value="US31409U5B72"/>
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        <balance>6101.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6794.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>WRKCo, Inc.</name>
        <lei>549300JEB576INN13W07</lei>
        <title>WRKCo, Inc.</title>
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          <isin value="US92940PAG90"/>
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        <balance>4700000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122DE5</cusip>
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        <balance>1700000.00000000</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>
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          <maturityDt>2028-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Port Authority of New York &amp; New Jersey</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>Port Authority of New York &amp; New Jersey</title>
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          <isin value="US73358WXP49"/>
          <other otherDesc="Inhouse Asset ID" value="604523"/>
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        <balance>4570000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.82300000</annualizedRt>
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      <invstOrSec>
        <name>HPS Loan Management 13-2018 Ltd.</name>
        <lei>N/A</lei>
        <title>HPS Loan Management 13-2018 Ltd., Series 13A-18, Class C</title>
        <cusip>40437LAJ1</cusip>
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          <isin value="US40437LAJ17"/>
          <other otherDesc="Inhouse Asset ID" value="927217"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2895103.14000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.38687900</annualizedRt>
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      <invstOrSec>
        <name>Bausch Health Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Bausch Health Cos., Inc., Term Loan</title>
        <cusip>C9413PBB8</cusip>
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          <other otherDesc="Inhouse Asset ID" value="943422"/>
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        <balance>2400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2349504.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36204RRQ3</cusip>
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          <isin value="US36204RRQ38"/>
          <other otherDesc="Inhouse Asset ID" value="282716"/>
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        <balance>750.12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>820.29000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Remington Outdoor Co., Inc.</name>
        <lei>N/A</lei>
        <title>Remington Outdoor Co., Inc.</title>
        <cusip>75959V104</cusip>
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          <other otherDesc="Inhouse Asset ID" value="874868"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="113467"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Allegiant Travel Co.</name>
        <lei>N/A</lei>
        <title>Allegiant Travel Co., Term Loan</title>
        <cusip>01748LAE8</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1042243"/>
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        <balance>2075747.85000000</balance>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Dynasty Acquisition Co., Inc.</name>
        <lei>N/A</lei>
        <title>Dynasty Acquisition Co., Inc., Term Loan B1</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>TNB Global Ventures Capital Bhd.</name>
        <lei>5493004U8XEGPFWIBZ14</lei>
        <title>TNB Global Ventures Capital Bhd.</title>
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          <isin value="XS1505674918"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, 30 Year</title>
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          <isin value="US36202CZ482"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern Co. (The)</name>
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        <name>DBCG Mortgage Trust</name>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CCL Industries, Inc.</name>
        <lei>549300TD3EMSRRC0YH75</lei>
        <title>CCL Industries, Inc.</title>
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        <invCountry>CA</invCountry>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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      <invstOrSec>
        <name>Massachusetts State College Building Authority</name>
        <lei>N/A</lei>
        <title>Massachusetts State College Building Authority</title>
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      <invstOrSec>
        <name>Bellemeade Re Ltd.</name>
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        <title>Bellemeade Re Ltd., Series 2018-1A, Class M1B</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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      <invstOrSec>
        <name>Eleven Madison Mortgage Trust</name>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dollar Tree, Inc.</name>
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        <name>LCM XVIII LP</name>
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        <name>Comcast Corp.</name>
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        <name>GNMA</name>
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        <name>N/A</name>
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        <name>FNMA</name>
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        <name>CIM Trust</name>
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        <name>FNMA</name>
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        <name>Target Corp.</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>Target Corp.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>LogMeIn, Inc.</name>
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        <name>Blackrock European CLO IX DAC</name>
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        <name>Costco Wholesale Corp.</name>
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        <name>Amgen, Inc.</name>
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        <name>Go Daddy Operating Co. LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Voya CLO Ltd.</name>
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        <name>BlueMountain Fuji US CLO III Ltd.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <name>Flex Ltd.</name>
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        <name>Argent Securities, Inc. Asset-Backed Pass-Through</name>
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        <name>BRAVO Residential Funding Trust</name>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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        <name>Emerson Electric Co.</name>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>24 Hour Fitness Worldwide, Inc.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Illuminate Buyer LLC</name>
        <lei>X8NPN6PWJOM1QCTYFV34</lei>
        <title>Illuminate Buyer LLC, Term Loan</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Southern Co. (The)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDIT</title>
        <cusip>N/A</cusip>
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        <balance>8300000.00000000</balance>
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      <invstOrSec>
        <name>Catamaran CLO Ltd.</name>
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        <invCountry>KY</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31385HJQ6</cusip>
        <identifiers>
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          <other otherDesc="Inhouse Asset ID" value="300251"/>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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      <invstOrSec>
        <name>FHLMC</name>
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        <name>Neuberger Berman CLO XVIII Ltd.</name>
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      <invstOrSec>
        <name>Quest Software US Holdings, Inc.</name>
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        <name>SunCoke Energy Partners LP / SunCoke Energy Partners Finance Corp.</name>
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        <name>Cyanco Intermediate 2 Corp.</name>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>Lloyds Banking Group plc</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
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        <name>FNMA</name>
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        <name>Consumer Loan Underlying Bond Credit Trust</name>
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      <invstOrSec>
        <name>FHLMC</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Ahern Rentals, Inc.</name>
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      <invstOrSec>
        <name>Lending Club Corp. LCX PM</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Oldapco, Inc.</name>
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        <name>N/A</name>
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        <name>Veritas US Inc.</name>
        <lei>N/A</lei>
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        <name>Octagon Investment Partners XVII Ltd.</name>
        <lei>54930007Y57X4ONHQV20</lei>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>Citigroup Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>Anagram International, Inc. / Anagram Holdings LLC</name>
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        <name>Madison Park Funding XLII LTD.</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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      <invstOrSec>
        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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      <invstOrSec>
        <name>TIBCO Software, Inc.</name>
        <lei>N/A</lei>
        <title>TIBCO Software, Inc., Term Loan B3</title>
        <cusip>88632NAP5</cusip>
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        <valUSD>1843130.63000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Holland Park CLO DAC</name>
        <lei>549300DH041IB658HY57</lei>
        <title>Holland Park CLO DAC, Series 1A, Class A1RR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2079843376"/>
          <other otherDesc="Inhouse Asset ID" value="1021226"/>
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        <name>Kazakhstan Temir Zholy Finance BV</name>
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        <name>FHLMC</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Phoenix Guarantor, Inc.</name>
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        <name>Madison Park Funding XXIX Ltd.</name>
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        <name>JetBlue Airways Corp.</name>
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        <name>Madison Park Funding XLII LTD.</name>
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        <name>Gabonese Republic</name>
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        <title>Gabonese Republic</title>
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        <name>Surf Holdings SARL</name>
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        <title>Surf Holdings SARL, First Lien Term Loan</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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          <couponKind>Variable</couponKind>
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        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
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        <issuerCat>MUN</issuerCat>
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        <name>Global Tel*Link Corp.</name>
        <lei>N/A</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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          <other otherDesc="Inhouse Asset ID" value="208159"/>
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        <curCd>USD</curCd>
        <valUSD>6148.02000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Variable</couponKind>
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        <name>Banque Ouest Africaine de Developpement</name>
        <lei>529900LIZJABE4JJS826</lei>
        <title>Banque Ouest Africaine de Developpement</title>
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          <other otherDesc="Inhouse Asset ID" value="670617"/>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blackrock European CLO IX DAC</name>
        <lei>549300CTNII509TFCV23</lei>
        <title>Blackrock European CLO IX DAC, Series 9A, Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2062959700"/>
          <other otherDesc="Inhouse Asset ID" value="1013848"/>
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        <name>Russian Railways</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Kraft Heinz Foods Co.</name>
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        <name>AT&amp;T, Inc.</name>
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        <title>Amcor Finance USA, Inc.</title>
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        <name>GNMA</name>
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        <name>LegalZoom.com, Inc.</name>
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        <name>Takeda Pharmaceutical Co. Ltd.</name>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>CDW LLC / CDW Finance Corp.</name>
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        <name>Octagon Investment Partners 37 Ltd.</name>
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        <name>Playtika Holding Corp.</name>
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        <name>State of Ohio</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>ON Semiconductor Corp.</name>
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        <name>AutoNation, Inc.</name>
        <lei>N/A</lei>
        <title>AutoNation, Inc.</title>
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        <name>Consumer Loan Underlying Bond Club Certificate Issuer Trust I</name>
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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>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <name>Bausch Health Companies, Inc.</name>
        <lei>KOO0397YRO83WY5MGD97</lei>
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          <other otherDesc="Inhouse Asset ID" value="874726"/>
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        <name>State Grid Overseas Investment 2016 Ltd.</name>
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        <name>FHLMC</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>LCM XVIII LP</name>
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        <name>Carlyle Global Market Strategies CLO Ltd.</name>
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      <invstOrSec>
        <name>Enable Midstream Partners LP</name>
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        <name>Horizon Therapeutics USA, Inc.</name>
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        <name>Diamond Sports Group LLC / Diamond Sports Finance Co.</name>
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        <name>Russian Federation</name>
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        <title>Russian Federation</title>
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        <name>FNMA</name>
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        <name>Utex Industries, Inc.</name>
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        <name>Ukraine</name>
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        <invCountry>UA</invCountry>
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        <name>Biogen, Inc.</name>
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        <name>JBS USA Lux SA</name>
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        <invCountry>LU</invCountry>
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        <name>FNMA</name>
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        <name>LCM XXII Ltd.</name>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Bain Capital Credit CLO Ltd.</name>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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        <name>Bell Canada, Inc.</name>
        <lei>549300O5ZKB2MUUSKB97</lei>
        <title>Bell Canada, Inc.</title>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Georgia Power Co.</name>
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        <name>FHLMC</name>
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        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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        <name>City of Austin TX Electric Utility Revenue</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Utex Industries, Inc.</name>
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        <name>Franklin Liberty High Yield Corporate ETF</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Galaxy XXVII CLO Ltd.</name>
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        <name>Metropolitan Life Global Funding I</name>
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        <name>Sanchez Energy Corp.</name>
        <lei>549300KEBLDQ6ODTO055</lei>
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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>FHLMC</name>
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        <name>FHLMC</name>
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        <name>Dollar Tree, Inc.</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>FHLMC</name>
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        <name>Hayfin Kingsland IX Ltd.</name>
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        <name>FNMA</name>
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        <name>Calpine Corp.</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>Thor Industries, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>University of Pittsburgh-of the Commonwealth System of Higher Education</name>
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        <name>LCM 26 Ltd.</name>
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        <name>FHLMC</name>
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        <name>LCM 26 Ltd.</name>
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        <name>Edwards Lifesciences Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Utex Industries, Inc.</name>
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        <name>Appvion Operations, Inc.</name>
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        <name>Holland Park CLO DAC</name>
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        <name>Octagon Investment Partners 36 Ltd.</name>
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        <invCountry>KY</invCountry>
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        <name>FNMA</name>
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        <name>WESCO Distribution, Inc.</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>Fox Corp.</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Willis North America, Inc.</name>
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        <name>United States of America</name>
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        <name>Republic of South Africa</name>
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        <name>Liberty Mutual Group, Inc.</name>
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        <name>CVS Health Corp.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 15 Year</title>
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        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
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        <name>Rattler Midstream LP</name>
        <lei>549300I45NRVEEN9M219</lei>
        <title>Rattler Midstream LP</title>
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        <name>AMMC CLO 21 Ltd.</name>
        <lei>549300DYK366J47FIO80</lei>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>Ceridian HCM Holding, Inc.</name>
        <lei>N/A</lei>
        <title>Ceridian HCM Holding, Inc., Term Loan</title>
        <cusip>15677GAF1</cusip>
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        <balance>797455.47000000</balance>
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        <valUSD>773408.20000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>2.59375000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Battalion Oil Corp.</name>
        <lei>3XHTN2NNIMMPORDAMJ28</lei>
        <title>Battalion Oil Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>20.13000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31417YCC9</cusip>
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          <isin value="US31417YCC93"/>
          <other otherDesc="Inhouse Asset ID" value="445250"/>
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        <balance>909888.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1047226.89000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31407NRE5</cusip>
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          <isin value="US31407NRE57"/>
          <other otherDesc="Inhouse Asset ID" value="348054"/>
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        <balance>240291.52000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268517.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>B&amp;G Foods, Inc.</name>
        <lei>549300TRW1LZMDJZAQ78</lei>
        <title>B&amp;G Foods, Inc.</title>
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          <isin value="US05508WAB19"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3107820.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2014-C03, Class 2M2</title>
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          <isin value="US30711XAM65"/>
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        <balance>1921582.52600000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-25</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>USCPI</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="694507"/>
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        <balance>37900000.00000000</balance>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YDC0</cusip>
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          <isin value="US00287YDC03"/>
          <other otherDesc="Inhouse Asset ID" value="1071732"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2111946.75000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Gilbert Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Gilbert Park CLO Ltd., Series 2017-1A, Class B</title>
        <cusip>375415AC0</cusip>
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          <isin value="US375415AC01"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>977604.49000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.83687800</annualizedRt>
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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>00206RCN0</cusip>
        <identifiers>
          <isin value="US00206RCN08"/>
          <other otherDesc="Inhouse Asset ID" value="602380"/>
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        <balance>1900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2095232.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
        <lei>549300ITL5IR423IJ183</lei>
        <title>Voya CLO Ltd., Series 2014-1A, Class CR2</title>
        <cusip>92915PAR6</cusip>
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          <isin value="US92915PAR64"/>
          <other otherDesc="Inhouse Asset ID" value="687821"/>
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        <balance>3750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3276733.88000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.01775000</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>Solera LLC</name>
        <lei>549300F7JH48O4IYRX29</lei>
        <title>Solera LLC, Term Loan</title>
        <cusip>83421MAB4</cusip>
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          <isin value="US83421MAB46"/>
          <other otherDesc="Inhouse Asset ID" value="1028125"/>
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        <balance>3252453.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3174052.90000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-03</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
        <cusip>969457BX7</cusip>
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        <balance>3200000.00000000</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>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31407ERW5</cusip>
        <identifiers>
          <isin value="US31407ERW56"/>
          <other otherDesc="Inhouse Asset ID" value="348056"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Pitney Bowes, Inc.</name>
        <lei>N/A</lei>
        <title>Pitney Bowes, Inc., Term Loan B</title>
        <cusip>72448FAR6</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1034483"/>
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        <balance>2431633.86000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2403974.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Adagio CLO VIII DAC</name>
        <lei>635400GXSZ7DMJYBSH11</lei>
        <title>Adagio CLO VIII DAC, Series VIII-A, Class B1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2054620310"/>
          <other otherDesc="Inhouse Asset ID" value="1010968"/>
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        <balance>2050000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.85866394"/>
        <valUSD>2363858.80000000</valUSD>
        <pctVal>0.046488430358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Voya CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Voya CLO Ltd., Series 2017-3A, Class B</title>
        <cusip>92915QAJ2</cusip>
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          <isin value="US92915QAJ22"/>
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        <balance>3091704.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3059361.02000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.56838000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="691827"/>
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        <balance>2325000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>CITIBANK NA</counterpartyName>
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            <descRefInstrmnt>
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                <indexName>MCDX North American MAIN Index Series 31-V1</indexName>
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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>Altra Industrial Motion Corp.</name>
        <lei>N/A</lei>
        <title>Altra Industrial Motion Corp., Term Loan</title>
        <cusip>02208HAB4</cusip>
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          <other otherDesc="Inhouse Asset ID" value="933611"/>
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        <balance>1454707.29000000</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>2025-10-01</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SVB Financial Group</name>
        <lei>549300D2KJ20JMXE7542</lei>
        <title>SVB Financial Group</title>
        <cusip>78486QAD3</cusip>
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          <isin value="US78486QAD34"/>
          <other otherDesc="Inhouse Asset ID" value="596931"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6489258.36000000</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>2025-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Caesars Resort Collection LLC</name>
        <lei>549300V3UCT773B1KR38</lei>
        <title>Caesars Resort Collection LLC, Term Loan B</title>
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          <isin value="US12769LAB53"/>
          <other otherDesc="Inhouse Asset ID" value="871413"/>
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        <balance>1336761.41000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1257117.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.89775000</annualizedRt>
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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>
      <invstOrSec>
        <name>Halcyon Loan Advisors Funding Ltd.</name>
        <lei>N/A</lei>
        <title>Halcyon Loan Advisors Funding Ltd., Series 2018-1A, Class A2</title>
        <cusip>40538TAC7</cusip>
        <identifiers>
          <isin value="US40538TAC71"/>
          <other otherDesc="Inhouse Asset ID" value="688718"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4392090.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.01838000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36224RL69</cusip>
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          <isin value="US36224RL690"/>
          <other otherDesc="Inhouse Asset ID" value="282710"/>
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        <balance>260.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261.30000000</valUSD>
        <pctVal>0.000005138812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31406C6X1</cusip>
        <identifiers>
          <isin value="US31406C6X12"/>
          <other otherDesc="Inhouse Asset ID" value="350174"/>
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        <balance>762080.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>823630.93000000</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>2033-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.10500100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31385HJ45</cusip>
        <identifiers>
          <isin value="US31385HJ459"/>
          <other otherDesc="Inhouse Asset ID" value="300253"/>
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        <balance>62618.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62845.98000000</valUSD>
        <pctVal>0.001235949864</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.34799900</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31407YDC0</cusip>
        <identifiers>
          <isin value="US31407YDC03"/>
          <other otherDesc="Inhouse Asset ID" value="367808"/>
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        <balance>277022.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312632.12000000</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>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>Anthem, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem, Inc.</title>
        <cusip>036752AN3</cusip>
        <identifiers>
          <isin value="US036752AN31"/>
          <other otherDesc="Inhouse Asset ID" value="1067430"/>
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        <balance>14500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14952384.34000000</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>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMC Entertainment Holdings, Inc.</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC Entertainment Holdings, Inc.</title>
        <cusip>00165CAR5</cusip>
        <identifiers>
          <isin value="US00165CAR51"/>
          <other otherDesc="Inhouse Asset ID" value="1097283"/>
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        <balance>69000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35535.00000000</valUSD>
        <pctVal>0.000698843083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
        <lei>N/A</lei>
        <title>FHLMC Structured Agency Credit Risk Debt Notes, Series 2016-HQA3, Class M2</title>
        <cusip>3137G0KX6</cusip>
        <identifiers>
          <isin value="US3137G0KX65"/>
          <other otherDesc="Inhouse Asset ID" value="652533"/>
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        <balance>173369.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173451.84000000</valUSD>
        <pctVal>0.003411161353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.49924900</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>24 Hour Fitness Worldwide, Inc.</name>
        <lei>N/A</lei>
        <title>24 Hour Fitness Worldwide, Inc., Term Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1081207"/>
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        <balance>905290.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>709141.02000000</valUSD>
        <pctVal>0.013946202253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Long Point Park CLO Ltd.</name>
        <lei>549300639DPKTBUSCC77</lei>
        <title>Long Point Park CLO Ltd., Series 2017-1A, Class A2</title>
        <cusip>542798AE3</cusip>
        <identifiers>
          <isin value="US542798AE35"/>
          <other otherDesc="Inhouse Asset ID" value="679886"/>
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        <balance>5800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5615333.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.59275200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Air Products and Chemicals, Inc.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>Air Products and Chemicals, Inc.</title>
        <cusip>009158BC9</cusip>
        <identifiers>
          <isin value="US009158BC97"/>
          <other otherDesc="Inhouse Asset ID" value="1066461"/>
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        <balance>4900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5115126.95000000</valUSD>
        <pctVal>0.100595781350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>Northrop Grumman Corp.</name>
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        <name>Beacon Roofing Supply, Inc.</name>
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        <name>Intel Corp.</name>
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        <name>FNMA</name>
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        <name>Cencosud SA</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>Octagon Investment Partners 38 Ltd.</name>
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        <name>TransCanada PipeLines Ltd.</name>
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        <name>Comcast Corp.</name>
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        <name>FHLMC</name>
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        <title>FHLMC Gold Pools, 30 Year</title>
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        <name>Centene Corp.</name>
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        <title>Centene Corp.</title>
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        <name>Republic of Angola</name>
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        <name>Westlake Chemical Corp.</name>
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        <name>AssuredPartners, Inc.</name>
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        <name>Ares European CLO VIII BV</name>
        <lei>5493006IQ0ZKC87HH708</lei>
        <title>Ares European CLO VIII BV, Series 8A, Class BR</title>
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      <invstOrSec>
        <name>Union Pacific Railroad Co. Pass-Through Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Octagon Investment Partners 35 Ltd.</name>
        <lei>549300EBYXJ9QVMC7X31</lei>
        <title>Octagon Investment Partners 35 Ltd., Series 2018-1A, Class B</title>
        <cusip>67591TAG5</cusip>
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          <isin value="US67591TAG58"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>430809.60000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.91837900</annualizedRt>
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      <invstOrSec>
        <name>Reynolds American, Inc.</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>Reynolds American, Inc.</title>
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          <isin value="US761713BA36"/>
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        <balance>9300000.00000000</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>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Alloy Finco Ltd.</name>
        <lei>N/A</lei>
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        <cusip>G0300CAC7</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1050519"/>
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        <balance>108797.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31188.84000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison Park Funding XLII, Ltd.</name>
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        <cusip>04966HAJ5</cusip>
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          <isin value="US04966HAJ59"/>
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        <balance>5500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5170000.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-21</maturityDt>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-31</maturityDt>
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          <annualizedRt>3.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US31407YEJ47"/>
          <other otherDesc="Inhouse Asset ID" value="367810"/>
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        <balance>219224.07000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Notes</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1080148"/>
          <other otherDesc="Future Ticker" value="FVZ0 Comdty"/>
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        <balance>3425.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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                <issuerName>United States of America</issuerName>
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      <invstOrSec>
        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
        <lei>N/A</lei>
        <title>FHLMC Structured Agency Credit Risk Debt Notes, Series 2016-HQA2, Class M3</title>
        <cusip>3137G0KE8</cusip>
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          <isin value="US3137G0KE84"/>
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        <curCd>USD</curCd>
        <valUSD>24366252.72000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.29925000</annualizedRt>
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      <invstOrSec>
        <name>Webster Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Webster Park CLO Ltd., Series 2015-1A, Class BR</title>
        <cusip>948214AU5</cusip>
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          <isin value="US948214AU55"/>
          <other otherDesc="Inhouse Asset ID" value="690147"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1907000.72000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.01838000</annualizedRt>
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      <invstOrSec>
        <name>Ares XLVIII CLO Ltd.</name>
        <lei>5493005WFBSWHJ1WGQ35</lei>
        <title>Ares XLVIII CLO Ltd., Series 2018-48A, Class D</title>
        <cusip>04017FAJ8</cusip>
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          <isin value="US04017FAJ84"/>
          <other otherDesc="Inhouse Asset ID" value="689102"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1806849.56000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.91838000</annualizedRt>
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      <invstOrSec>
        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
        <cusip>268317AF1</cusip>
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        <balance>24000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24890160.00000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
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          <isin value="US125523AH38"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5926560.85000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>25714PDX3</cusip>
        <identifiers>
          <isin value="US25714PDX33"/>
          <other otherDesc="Inhouse Asset ID" value="684492"/>
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        <balance>610400000.00000000</balance>
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        <currencyConditional curCd="DOP" exchangeRt="58.42000000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.90000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
        <cusip>31428XBQ8</cusip>
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          <isin value="US31428XBQ88"/>
          <other otherDesc="Inhouse Asset ID" value="919712"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2302669.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 15 Year</title>
        <cusip>3128PJCQ8</cusip>
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          <isin value="US3128PJCQ82"/>
          <other otherDesc="Inhouse Asset ID" value="405626"/>
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        <balance>7816.41000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7879.74000000</valUSD>
        <pctVal>0.000154965577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Utah Transit Authority</name>
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        <name>FHLMC</name>
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        <name>N/A</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Dryden 45 Senior Loan Fund</name>
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      <invstOrSec>
        <name>General Nutrition Centers, Inc.</name>
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        <name>AbbVie, Inc.</name>
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        <name>Energy Transfer Operating LP</name>
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        <name>HSBC Holdings plc</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 15 Year</title>
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      <invstOrSec>
        <name>AMMC CLO XI Ltd.</name>
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        <name>Verso Corp.</name>
        <lei>549300FODXCTQ8DGT594</lei>
        <title>Verso Corp.</title>
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        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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        <name>Aflac, Inc.</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>Aflac, Inc.</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
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        <name>Onsite Rental Group Operations Pty. Ltd.</name>
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        <invCountry>AU</invCountry>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SN9</cusip>
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        <name>Onsite Rental Group Operations Pty. Ltd.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Metro Wastewater Reclamation District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aircastle Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United Mexican States</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>N/A</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Vertical Midco GmbH</name>
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        <title>Vertical Midco GmbH, Term Loan</title>
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        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS Corp.</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3128M4UE1</cusip>
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        <name>Netflix, Inc.</name>
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        <name>BlueMountain CLO Ltd.</name>
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        <name>GNMA</name>
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        <title>GNMA I, 30 Year</title>
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        <name>FNMA</name>
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        <name>Sunoco Logistics Partners Operations LP</name>
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        <title>Sunoco Logistics Partners Operations LP</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BlueMountain Fuji US CLO III Ltd.</name>
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        <cusip>09628FAG4</cusip>
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          <isin value="US09628FAG46"/>
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        <curCd>USD</curCd>
        <valUSD>2164982.45000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Ukraine</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government Bond</title>
        <cusip>903724AN2</cusip>
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          <isin value="US903724AN29"/>
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        <balance>229000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236299.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Virgin Media Bristol LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Highline Aftermarket Acquisition LLC</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1120064"/>
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        <balance>119654.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>117112.02000000</valUSD>
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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>2027-10-27</maturityDt>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>N/A</name>
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        <title>CDS</title>
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          <other otherDesc="Inhouse Asset ID" value="691496"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK NA</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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          <isin value="US31376JNW52"/>
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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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        <title>GNMA II</title>
        <cusip>36202K7C3</cusip>
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        <curCd>USD</curCd>
        <valUSD>5760.61000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-20</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Radnor Re Ltd.</name>
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        <title>Radnor Re Ltd., Series 2018-1, Class M1</title>
        <cusip>750496AA9</cusip>
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          <other otherDesc="Inhouse Asset ID" value="686550"/>
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        <balance>257375.69000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257276.21000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.54924900</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>athenahealth, Inc.</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1464441.29000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31401MAU5</cusip>
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          <isin value="US31401MAU53"/>
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        <balance>17510.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19458.94000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Orlando Health Obligated Group</name>
        <lei>N/A</lei>
        <title>Orlando Health Obligated Group</title>
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        <curCd>USD</curCd>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
          <annualizedRt>5.14924900</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>31296MF53</cusip>
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        <balance>8077.72000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9306.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Remington Outdoor Co., Inc.</name>
        <lei>N/A</lei>
        <title>Remington Outdoor Co., Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDIT</title>
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        <identifiers>
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        <balance>2700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-53515.08000000</valUSD>
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        <assetCat>DCR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
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                <issuerName>BNP 692038 Dec 2020</issuerName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CWABS Asset-Backed Certificates Trust</name>
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        <title>CWABS Asset-Backed Certificates Trust, Series 2004-1, Class M1</title>
        <cusip>126671Z25</cusip>
        <identifiers>
          <isin value="US126671Z258"/>
          <other otherDesc="Inhouse Asset ID" value="525452"/>
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        <balance>440403.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>438981.91000000</valUSD>
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        <name>Bunge Ltd. Finance Corp.</name>
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      <invstOrSec>
        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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      <invstOrSec>
        <name>Banijay Entertainment SAS</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Race Point X CLO Ltd.</name>
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        <invCountry>KY</invCountry>
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        <name>Radiate HoldCo LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <title>CES</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 Gold Pools, 30 Year</title>
        <cusip>3128L04F6</cusip>
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        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
        <lei>N/A</lei>
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        <name>Virginia Electric &amp; Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric &amp; Power Co.</title>
        <cusip>927804FE9</cusip>
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        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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        <name>Greenville City School District</name>
        <lei>N/A</lei>
        <title>Greenville City School District</title>
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        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC</name>
        <lei>5493006Q26653NF8SI73</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNT Holding I Corp.</name>
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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>Utex Industries, Inc.</name>
        <lei>N/A</lei>
        <title>Utex Industries, Inc., Second Lien Term Loan</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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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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      <invstOrSec>
        <name>Milano Acquisition Corp.</name>
        <lei>N/A</lei>
        <title>Milano Acquisition Corp., First Lien Term Loan B</title>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
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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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      <invstOrSec>
        <name>Staples, Inc.</name>
        <lei>N/A</lei>
        <title>Staples, Inc., Term Loan B1</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Cardtronics USA, Inc.</name>
        <lei>N/A</lei>
        <title>Cardtronics USA, Inc., Term Loan</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Riviera Resources, Inc.</name>
        <lei>N/A</lei>
        <title>Riviera Resources, Inc.</title>
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        <balance>12605.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Harbor Park CLO 18-1 Ltd.</name>
        <lei>N/A</lei>
        <title>Harbor Park CLO 18-1 Ltd., Series 2018-1A, Class A2</title>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Diamond Sports Group LLC</name>
        <lei>N/A</lei>
        <title>Diamond Sports Group LLC, Term Loan</title>
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          <other otherDesc="Inhouse Asset ID" value="998576"/>
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        <balance>4838906.13000000</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>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <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>
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          <other otherDesc="Inhouse Asset ID" value="220481"/>
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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>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US30711XEP50"/>
          <other otherDesc="Inhouse Asset ID" value="658303"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>FLIR Systems, Inc.</name>
        <lei>VOBD35NEPH6WISIRTJ85</lei>
        <title>FLIR Systems, Inc.</title>
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          <isin value="US302445AE15"/>
          <other otherDesc="Inhouse Asset ID" value="1094984"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Octagon Investment Partners 18-R Ltd.</name>
        <lei>N/A</lei>
        <title>Octagon Investment Partners 18-R Ltd., Series 2018-18A, Class C</title>
        <cusip>67576FAJ8</cusip>
        <identifiers>
          <isin value="US67576FAJ84"/>
          <other otherDesc="Inhouse Asset ID" value="687414"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>2.93013000</annualizedRt>
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        <securityLending>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prosper Pass-Thru Trust III</name>
        <lei>N/A</lei>
        <title>Prosper Pass-Thru Trust III, Series 2020-PT3, Class A</title>
        <cusip>74360NAC2</cusip>
        <identifiers>
          <isin value="US74360NAC20"/>
          <other otherDesc="Inhouse Asset ID" value="1058439"/>
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        <balance>1603375.67000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1627101.78000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.18294000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
        <cusip>13032UVL9</cusip>
        <identifiers>
          <isin value="US13032UVL96"/>
          <other otherDesc="Inhouse Asset ID" value="1024570"/>
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        <balance>5870000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6153638.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.98400000</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>BCC Middle Market CLO LLC</name>
        <lei>N/A</lei>
        <title>BCC Middle Market CLO LLC, Series 2018-1A, Class A2</title>
        <cusip>055328AC2</cusip>
        <identifiers>
          <isin value="US055328AC21"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Bain Capital Credit CLO</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Time Warner Entertainment Co. LP</name>
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        <name>Colbun SA</name>
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        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Lions Gate Capital Holdings LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <title>GNMA II</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Univision Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Indonesia</name>
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        <title>Republic of Indonesia</title>
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        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LCM XXII Ltd.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.12500000</annualizedRt>
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        <name>Madison Park Funding XXXI Ltd.</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <name>Voya CLO Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Ellington CLO III Ltd.</name>
        <lei>254900V20GCNJI0I7591</lei>
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        <name>Republic of Belarus</name>
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        <title>Republic of Belarus</title>
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        <invCountry>BY</invCountry>
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        <name>Maxim Integrated Products, Inc.</name>
        <lei>SO0H5YEO14Y4PVKQH532</lei>
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        <name>Millennium Laboratories Ltd.</name>
        <lei>N/A</lei>
        <title>Millennium Laboratories Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IN</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2014-C04, Class 1M2</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.04924800</annualizedRt>
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      <invstOrSec>
        <name>Clarios Global LP</name>
        <lei>N/A</lei>
        <title>Clarios Global LP, First Lien Term Loan</title>
        <cusip>C8000CAB9</cusip>
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          <other otherDesc="Inhouse Asset ID" value="966609"/>
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        <balance>955087.72000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31412BW24</cusip>
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          <isin value="US31412BW242"/>
          <other otherDesc="Inhouse Asset ID" value="395788"/>
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        <curCd>USD</curCd>
        <valUSD>221154.45000000</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>2037-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2015-C01, Class 2M2</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ukraine</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government Bond</title>
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          <isin value="US903724AW28"/>
          <other otherDesc="Inhouse Asset ID" value="617120"/>
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        <balance>474000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DO</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>N/A</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2014-C02, Class 2M2</title>
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          <isin value="US30711XAH70"/>
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        <curCd>USD</curCd>
        <valUSD>5497826.01000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31413APT4</cusip>
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          <isin value="US31413APT42"/>
          <other otherDesc="Inhouse Asset ID" value="404946"/>
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        <balance>635.33000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>710.32000000</valUSD>
        <pctVal>0.000013969388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
        <lei>N/A</lei>
        <title>Consumer Loan Underlying Bond Certificate Issuer Trust I, Series 2019-S7, Class PT</title>
        <cusip>21050KAA8</cusip>
        <identifiers>
          <isin value="US21050KAA88"/>
          <other otherDesc="Inhouse Asset ID" value="1019859"/>
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        <balance>4026310.22000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3501587.78000000</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>2044-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>11.34875500</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>BlueMountain CLO Ltd.</name>
        <lei>549300NUS8PQQUZMPR50</lei>
        <title>BlueMountain CLO Ltd., Series 2014-2A, Class CR2</title>
        <cusip>09626QBE6</cusip>
        <identifiers>
          <isin value="US09626QBE61"/>
          <other otherDesc="Inhouse Asset ID" value="928151"/>
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        <balance>4700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4578977.06000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.41837900</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
        <cusip>594918BY9</cusip>
        <identifiers>
          <isin value="US594918BY93"/>
          <other otherDesc="Inhouse Asset ID" value="659118"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5688181.70000000</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>2027-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ukraine</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government Bond</title>
        <cusip>903724AR3</cusip>
        <identifiers>
          <isin value="US903724AR33"/>
          <other otherDesc="Inhouse Asset ID" value="617117"/>
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        <balance>229000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>237612.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Ares LII CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Ares LII CLO Ltd., Series 2019-52A, Class A2</title>
        <cusip>04009AAC4</cusip>
        <identifiers>
          <isin value="US04009AAC45"/>
          <other otherDesc="Inhouse Asset ID" value="966055"/>
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        <balance>1382114.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.86575000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Greeneden U.S. Holdings I LLC</name>
        <lei>N/A</lei>
        <title>Greeneden U.S. Holdings I LLC, Term Loan</title>
        <cusip>39479UAQ6</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1113859"/>
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        <balance>338735.28000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>333972.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ares LII CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Ares LII CLO Ltd., Series 2019-52A, Class C</title>
        <cusip>04009AAG5</cusip>
        <identifiers>
          <isin value="US04009AAG58"/>
          <other otherDesc="Inhouse Asset ID" value="966056"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2485648.03000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.89575000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36208NZC0</cusip>
        <identifiers>
          <isin value="US36208NZC00"/>
          <other otherDesc="Inhouse Asset ID" value="159062"/>
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        <balance>3665.11000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3809.47000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Biogen, Inc.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>Biogen, Inc.</title>
        <cusip>09062XAH6</cusip>
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          <isin value="US09062XAH61"/>
          <other otherDesc="Inhouse Asset ID" value="1066282"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3533969.71000000</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>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Upgrade, Inc.</name>
        <lei>N/A</lei>
        <title>Upgrade, Inc., Marketplace Loan</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="982909"/>
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        <balance>3352993.64000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2915883.51000000</valUSD>
        <pctVal>0.057344731202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>25.87034680</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <name>Carlyle Global Market Strategies CLO Ltd.</name>
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        <name>FNMA</name>
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        <name>University of California</name>
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        <name>Armada Euro CLO IV DAC</name>
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        <name>FNMA</name>
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        <name>Akbank T.A.S.</name>
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        <name>FNMA</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>Amentum Government Services Holdings LLC</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Weatherford International plc</name>
        <lei>529900LPBDSCQDJKHQ39</lei>
        <title>Weatherford International plc</title>
        <cusip>N/A</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="175297"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Burlington Northern and Santa Fe Railway Co. Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Burlington Northern and Santa Fe Railway Co. Pass-Through Trust, Series 1999-2</title>
        <cusip>12189PAF9</cusip>
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          <isin value="US12189PAF99"/>
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        <balance>4059.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4089.34000000</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>2021-01-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.57000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dryden 55 CLO Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US26245MAL54"/>
          <other otherDesc="Inhouse Asset ID" value="688653"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1778778.09000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.08688100</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Transit Authority</name>
        <lei>549300CB8XLRGIPN3E12</lei>
        <title>Chicago Transit Authority</title>
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          <isin value="US167725AC49"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1116968.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31386UL91</cusip>
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          <isin value="US31386UL910"/>
          <other otherDesc="Inhouse Asset ID" value="448662"/>
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        <balance>2807.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3285.33000000</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>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp.</title>
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          <isin value="US166764BT68"/>
          <other otherDesc="Inhouse Asset ID" value="933474"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2032534.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.89500000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2139525.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>4.95000000</annualizedRt>
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        <name>Onsite Rental Group Operations Pty. Ltd.</name>
        <lei>5493008YQUVFPVW2VW35</lei>
        <title>Onsite Rental Group Operations Pty. Ltd.</title>
        <cusip>N/A</cusip>
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        <balance>183113.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161317.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36208PKW7</cusip>
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        <balance>2902.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2970.34000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>First Eagle Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>First Eagle Holdings, Inc., Term Loan</title>
        <cusip>05554JAH0</cusip>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Southern Co. (The)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. (The), Series A</title>
        <cusip>842587DE4</cusip>
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          <isin value="US842587DE49"/>
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        <balance>13900000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>30711XBB9</cusip>
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          <isin value="US30711XBB91"/>
          <other otherDesc="Inhouse Asset ID" value="658703"/>
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        <balance>6526914.43400000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>Talen Energy Supply LLC</title>
        <cusip>87422VAF5</cusip>
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          <isin value="US87422VAF58"/>
          <other otherDesc="Inhouse Asset ID" value="980878"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3011250.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Royalty Pharma plc</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>Royalty Pharma plc</title>
        <cusip>78081BAC7</cusip>
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          <isin value="US78081BAC72"/>
          <other otherDesc="Inhouse Asset ID" value="1103924"/>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3381267.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAA8</cusip>
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          <other otherDesc="Inhouse Asset ID" value="597272"/>
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        <balance>4600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5002474.33000000</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>2025-02-15</maturityDt>
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        <name>FNMA</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>GNMA</name>
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        <name>Aker BP ASA</name>
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        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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        <name>GNMA</name>
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        <name>FHLMC</name>
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        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>Caterpillar, Inc.</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>
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      </invstOrSec>
      <invstOrSec>
        <name>BDO Unibank, Inc.</name>
        <lei>3FGIIBS1PEI1FYQBGN97</lei>
        <title>BDO Unibank, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1673684509"/>
          <other otherDesc="Inhouse Asset ID" value="955440"/>
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        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1663699.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA, 15 Year, Single Family</title>
        <cusip>01F0124B9</cusip>
        <identifiers>
          <isin value="US01F0124B93"/>
          <other otherDesc="Inhouse Asset ID" value="1112985"/>
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        <balance>53649000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54759702.22000000</valUSD>
        <pctVal>1.076922446928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3128L3WM4</cusip>
        <identifiers>
          <isin value="US3128L3WM45"/>
          <other otherDesc="Inhouse Asset ID" value="431797"/>
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        <balance>119996.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132004.91000000</valUSD>
        <pctVal>0.002596052296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</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>
      <invstOrSec>
        <name>Permanent University Fund - Texas A&amp;M University System</name>
        <lei>N/A</lei>
        <title>Permanent University Fund - Texas A&amp;M University System</title>
        <cusip>8821177C2</cusip>
        <identifiers>
          <isin value="US8821177C28"/>
          <other otherDesc="Inhouse Asset ID" value="1026501"/>
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        <balance>9020000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9350583.00000000</valUSD>
        <pctVal>0.183891663327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</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>Ventia Midco Pty. Ltd.</name>
        <lei>N/A</lei>
        <title>Ventia Midco Pty. Ltd., Term Loan B</title>
        <cusip>Q5642FAE1</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="992321"/>
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        <balance>2642675.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2609642.13000000</valUSD>
        <pctVal>0.051322086759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-21</maturityDt>
          <couponKind>Variable</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>Octagon Investment Partners XXIII Ltd.</name>
        <lei>549300EY2ULL20U3RR38</lei>
        <title>Octagon Investment Partners XXIII Ltd., Series 2015-1A, Class BR</title>
        <cusip>67590WCJ1</cusip>
        <identifiers>
          <isin value="US67590WCJ18"/>
          <other otherDesc="Inhouse Asset ID" value="688014"/>
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        <balance>1170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1139344.39000000</valUSD>
        <pctVal>0.022406724263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.43687900</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>N/A</name>
        <lei>N/A</lei>
        <title>CES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="694332"/>
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        <balance>24200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85866394"/>
        <valUSD>-1305650.75000000</valUSD>
        <pctVal>-0.02567736023</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CITIBANK NA</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <amtCurSold>26862000.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>24200000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2021-12-12</settlementDt>
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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 II, 30 Year</title>
        <cusip>36202EUV9</cusip>
        <identifiers>
          <isin value="US36202EUV90"/>
          <other otherDesc="Inhouse Asset ID" value="443855"/>
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        <balance>127438.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152613.26000000</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>2038-07-20</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA, 15 Year, Single Family</title>
        <cusip>01F0204B2</cusip>
        <identifiers>
          <isin value="US01F0204B21"/>
          <other otherDesc="Inhouse Asset ID" value="1112984"/>
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        <balance>158170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164014876.57000000</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>2035-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>Credit Suisse First Boston Mortgage Securities Corp.</name>
        <lei>N/A</lei>
        <title>Credit Suisse First Boston Mortgage Securities Corp., Series 2004-6, Class 3A1</title>
        <cusip>2254W0HE8</cusip>
        <identifiers>
          <isin value="US2254W0HE80"/>
          <other otherDesc="Inhouse Asset ID" value="566961"/>
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        <balance>116184.26500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98161.05000000</valUSD>
        <pctVal>0.001930467732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-25</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>
      <invstOrSec>
        <name>Madison Park Euro Funding VIII DAC</name>
        <lei>635400Y8CTGVSWYFMB36</lei>
        <title>Madison Park Euro Funding VIII DAC, Series 8A, Class ARN</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2079888983"/>
          <other otherDesc="Inhouse Asset ID" value="1022173"/>
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        <balance>41450000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85866394"/>
        <valUSD>48083620.98000000</valUSD>
        <pctVal>0.945628421332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.95000000</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>Battalion Oil Corp.</name>
        <lei>3XHTN2NNIMMPORDAMJ28</lei>
        <title>Battalion Oil Corp.</title>
        <cusip>07134L131</cusip>
        <identifiers>
          <isin value="US07134L1310"/>
          <other otherDesc="Inhouse Asset ID" value="1014176"/>
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        <balance>4100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4.09000000</valUSD>
        <pctVal>0.000000080435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Warrant"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TCI-Flatiron CLO Ltd.</name>
        <lei>N/A</lei>
        <title>TCI-Flatiron CLO Ltd., Series 2017-1A, Class C</title>
        <cusip>87231BAG8</cusip>
        <identifiers>
          <isin value="US87231BAG86"/>
          <other otherDesc="Inhouse Asset ID" value="676716"/>
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        <balance>2800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2704767.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.13013100</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>Catalent Pharma Solutions, Inc.</name>
        <lei>N/A</lei>
        <title>Catalent Pharma Solutions, Inc., Term Loan B2</title>
        <cusip>14880BAG6</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="981033"/>
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        <balance>1147013.24000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1144386.58000000</valUSD>
        <pctVal>0.022505885642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-18</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2017-C03, Class 1M2</title>
        <cusip>30711XJX3</cusip>
        <identifiers>
          <isin value="US30711XJX30"/>
          <other otherDesc="Inhouse Asset ID" value="971970"/>
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        <balance>25335261.10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25627787.09000000</valUSD>
        <pctVal>0.504004551950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.14925100</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>Cook Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Cook Park CLO Ltd., Series 2018-1A, Class A2</title>
        <cusip>21623PAC1</cusip>
        <identifiers>
          <isin value="US21623PAC14"/>
          <other otherDesc="Inhouse Asset ID" value="686410"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5830616.86000000</valUSD>
        <pctVal>0.114666842977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.33774900</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>Hyland Software, Inc.</name>
        <lei>N/A</lei>
        <title>Hyland Software, Inc., First Lien Term Loan</title>
        <cusip>44908XAT5</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1015242"/>
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        <balance>568107.64000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>561313.07000000</valUSD>
        <pctVal>0.011038968809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</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>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
        <cusip>337738AP3</cusip>
        <identifiers>
          <isin value="US337738AP30"/>
          <other otherDesc="Inhouse Asset ID" value="611922"/>
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        <balance>9300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10446495.91000000</valUSD>
        <pctVal>0.205444249715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</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 I, 30 Year</title>
        <cusip>36213VMK1</cusip>
        <identifiers>
          <isin value="US36213VMK16"/>
          <other otherDesc="Inhouse Asset ID" value="223344"/>
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        <balance>6498.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7405.20000000</valUSD>
        <pctVal>0.000145633116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31403YSK0</cusip>
        <identifiers>
          <isin value="US31403YSK00"/>
          <other otherDesc="Inhouse Asset ID" value="312151"/>
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        <balance>34589.73000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38500.86000000</valUSD>
        <pctVal>0.000757170668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>
      <invstOrSec>
        <name>City &amp; County Honolulu HI Wastewater System Revenue</name>
        <lei>N/A</lei>
        <title>City &amp; County Honolulu</title>
        <cusip>438701Y57</cusip>
        <identifiers>
          <isin value="US438701Y572"/>
          <other otherDesc="Inhouse Asset ID" value="1018610"/>
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        <balance>1350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1434442.50000000</valUSD>
        <pctVal>0.028210221466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.58500000</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>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
        <title>Burlington Northern Santa Fe LLC</title>
        <cusip>12189LAZ4</cusip>
        <identifiers>
          <isin value="US12189LAZ40"/>
          <other otherDesc="Inhouse Asset ID" value="633731"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5932956.50000000</valUSD>
        <pctVal>0.116679488245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2016-C04, Class 1M2</title>
        <cusip>30711XDA9</cusip>
        <identifiers>
          <isin value="US30711XDA90"/>
          <other otherDesc="Inhouse Asset ID" value="943375"/>
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        <balance>11551475.60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11984672.11000000</valUSD>
        <pctVal>0.235694532495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.39925000</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>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2017-1, Class A1</title>
        <cusip>89173FAA8</cusip>
        <identifiers>
          <isin value="US89173FAA84"/>
          <other otherDesc="Inhouse Asset ID" value="659651"/>
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        <balance>5659620.10800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5803263.53000000</valUSD>
        <pctVal>0.114128903327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.75000000</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>Harsco Corp.</name>
        <lei>KAO98FK89NPNNPQGUZ43</lei>
        <title>Harsco Corp.</title>
        <cusip>415864AM9</cusip>
        <identifiers>
          <isin value="US415864AM90"/>
          <other otherDesc="Inhouse Asset ID" value="991073"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2560937.50000000</valUSD>
        <pctVal>0.050364245368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Madison Park Funding XXXI Ltd.</name>
        <lei>N/A</lei>
        <title>Madison Park Funding XXXI Ltd., Series 2018-31A, Class B</title>
        <cusip>55819DAG1</cusip>
        <identifiers>
          <isin value="US55819DAG16"/>
          <other otherDesc="Inhouse Asset ID" value="942332"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1473761.12000000</valUSD>
        <pctVal>0.028983474474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.90913000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31412YQC9</cusip>
        <identifiers>
          <isin value="US31412YQC92"/>
          <other otherDesc="Inhouse Asset ID" value="404898"/>
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        <balance>9202.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10212.63000000</valUSD>
        <pctVal>0.000200844965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tullow Oil plc</name>
        <lei>2138003EYHWO75RKS857</lei>
        <title>Tullow Oil plc</title>
        <cusip>899415AE3</cusip>
        <identifiers>
          <isin value="US899415AE32"/>
          <other otherDesc="Inhouse Asset ID" value="686869"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>316500.00000000</valUSD>
        <pctVal>0.006224393863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31407PYK8</cusip>
        <identifiers>
          <isin value="US31407PYK82"/>
          <other otherDesc="Inhouse Asset ID" value="367807"/>
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        <balance>315995.77000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>360911.82000000</valUSD>
        <pctVal>0.007097811429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA, 30 Year, Single Family</title>
        <cusip>01F0206B0</cusip>
        <identifiers>
          <isin value="US01F0206B03"/>
          <other otherDesc="Inhouse Asset ID" value="1020096"/>
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        <balance>177993000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183520515.66000000</valUSD>
        <pctVal>3.609175265272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31390LWE2</cusip>
        <identifiers>
          <isin value="US31390LWE28"/>
          <other otherDesc="Inhouse Asset ID" value="256214"/>
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        <balance>6264.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7252.28000000</valUSD>
        <pctVal>0.000142625741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</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>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA I, 30 Year</title>
        <cusip>36295QGR5</cusip>
        <identifiers>
          <isin value="US36295QGR56"/>
          <other otherDesc="Inhouse Asset ID" value="438448"/>
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        <balance>10337.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11782.01000000</valUSD>
        <pctVal>0.000231708912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-15</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>Blackboard, Inc.</name>
        <lei>N/A</lei>
        <title>Blackboard, Inc., First Lien Term Loan B5</title>
        <cusip>09227CAT8</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1089608"/>
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        <balance>1746750.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1693806.61000000</valUSD>
        <pctVal>0.033310961986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.00000000</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>Consumer Loan Underlying Bond Credit Trust</name>
        <lei>N/A</lei>
        <title>Consumer Loan Underlying Bond Credit Trust, Series 2019-S4, Class PT</title>
        <cusip>21054GAA3</cusip>
        <identifiers>
          <isin value="US21054GAA31"/>
          <other otherDesc="Inhouse Asset ID" value="996010"/>
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        <name>FHLMC</name>
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        <name>Provident Funding Mortgage Trust</name>
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        <name>Neuberger Berman CLO XVI-S Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State Grid Overseas Investment 2016 Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
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        <name>United States of America</name>
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        <name>Barracuda Networks, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
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        <name>N/A</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <name>Ameriquest Mortgage Securities, Inc.</name>
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        <name>Cheniere Corpus Christi Holdings LLC</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>Newark BSL CLO 2 Ltd.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Oriental Republic of Uruguay</name>
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        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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        <name>FHLMC</name>
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        <name>Cushman &amp; Wakefield U.S. Borrower LLC</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FHLMC</name>
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        <name>United States of America</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Octagon Investment Partners 28 Ltd.</name>
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        <name>Banque Centrale de Tunisie International Bond</name>
        <lei>254900B5LFB16S9T2T11</lei>
        <title>Banque Centrale de Tunisie</title>
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        <invCountry>TN</invCountry>
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        <name>Millennium Ltd.</name>
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        <title>Millennium Ltd.</title>
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        <name>FGI Operating Co. LLC</name>
        <lei>N/A</lei>
        <title>FGI Operating Co. LLC, Term Loan</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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          <isin value="US912828ZW33"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Perrigo Finance Unlimited Co.</name>
        <lei>549300E86RB6YCTMRM83</lei>
        <title>Perrigo Finance Unlimited Co.</title>
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          <isin value="US71429MAC91"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CIM Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.62500000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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          <isin value="US3128M7NJ11"/>
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        <balance>23886.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27239.46000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>CARLYLE US CLO Ltd.</name>
        <lei>N/A</lei>
        <title>CARLYLE US CLO Ltd., Series 2017-5A, Class B</title>
        <cusip>14316AAG2</cusip>
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          <isin value="US14316AAG22"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-20</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810QT8</cusip>
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          <isin value="US912810QT88"/>
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        <balance>14500000.00000000</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>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.</name>
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        <cusip>03522AAH3</cusip>
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          <isin value="US03522AAH32"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fox Corp.</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp.</title>
        <cusip>35137LAG0</cusip>
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          <isin value="US35137LAG05"/>
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        <balance>1900000.00000000</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>2024-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Caesars Resort Collection LLC</name>
        <lei>X8NPN6PWJOM1QCTYFV34</lei>
        <title>Caesars Resort Collection LLC, Term Loan B1</title>
        <cusip>12769LAD1</cusip>
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        <balance>120104.59000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Navistar, Inc.</name>
        <lei>N/A</lei>
        <title>Navistar, Inc., Term Loan B</title>
        <cusip>63937YAE1</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-06</maturityDt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>CES</title>
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        <name>Ukraine</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government Bond</title>
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          <other otherDesc="Inhouse Asset ID" value="617116"/>
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        <balance>229000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>
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      <invstOrSec>
        <name>Franklin Liberty Investment Grade Corporate ETF</name>
        <lei>549300AGICP0BF7KSG70</lei>
        <title>Franklin Liberty Investment Grade Corporate ETF</title>
        <cusip>35473P603</cusip>
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          <other otherDesc="Inhouse Asset ID" value="646467"/>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31412XSX3</cusip>
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          <other otherDesc="Inhouse Asset ID" value="404888"/>
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        <balance>28861.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32081.33000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Buttermilk Park CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Buttermilk Park CLO Ltd., Series 2018-1A, Class C</title>
        <cusip>124166AJ8</cusip>
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          <isin value="US124166AJ80"/>
          <other otherDesc="Inhouse Asset ID" value="926818"/>
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        <balance>1452380.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1411150.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Walt Disney Co. (The)</name>
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        <name>N/A</name>
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        <name>FNMA</name>
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        <name>Republic of Peru</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Consumer Loan Underlying Bond Club Certificate Issuer Trust I</name>
        <lei>N/A</lei>
        <title>Consumer Loan Underlying Bond Club Certificate Issuer Trust I, Series 2020-7, Class PT</title>
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          <isin value="US21056VAA89"/>
          <other otherDesc="Inhouse Asset ID" value="1049806"/>
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        <curCd>USD</curCd>
        <valUSD>3940944.66000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>17.02297100</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Trico Group LLC</name>
        <lei>N/A</lei>
        <title>Trico Group LLC, Term Loan B</title>
        <cusip>31935HAB3</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1093425"/>
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        <balance>765157.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>761331.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31384VVZ2</cusip>
        <identifiers>
          <isin value="US31384VVZ20"/>
          <other otherDesc="Inhouse Asset ID" value="448632"/>
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        <balance>3925.06000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4738.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Madison Park Funding XXII Ltd.</name>
        <lei>N/A</lei>
        <title>Madison Park Funding XXII Ltd., Series 2016-22A, Class CR</title>
        <cusip>55819XBE1</cusip>
        <identifiers>
          <isin value="US55819XBE13"/>
          <other otherDesc="Inhouse Asset ID" value="1042690"/>
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        <balance>7790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7388786.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.23688200</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital One Bank USA NA</name>
        <lei>LKE37K2B8CFZUR7F9816</lei>
        <title>Capital One Bank USA NA</title>
        <cusip>140420NB2</cusip>
        <identifiers>
          <isin value="US140420NB24"/>
          <other otherDesc="Inhouse Asset ID" value="542471"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6356727.30000000</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>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 15 Year</title>
        <cusip>31416BTJ7</cusip>
        <identifiers>
          <isin value="US31416BTJ79"/>
          <other otherDesc="Inhouse Asset ID" value="486107"/>
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        <balance>38.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39.97000000</valUSD>
        <pctVal>0.000000786063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>NZCG Funding Ltd.</name>
        <lei>549300VKPCTKDCMB5721</lei>
        <title>NZCG Funding Ltd., Series 2015-1A, Class A2R</title>
        <cusip>62951CAP7</cusip>
        <identifiers>
          <isin value="US62951CAP77"/>
          <other otherDesc="Inhouse Asset ID" value="684446"/>
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        <balance>12390000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12179886.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.78375000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor, Inc.</name>
        <lei>N/A</lei>
        <title>Baker Hughes a GE Co. LLC / Baker Hughes Co-Obligor, Inc.</title>
        <cusip>05724BAA7</cusip>
        <identifiers>
          <isin value="US05724BAA70"/>
          <other otherDesc="Inhouse Asset ID" value="1066876"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>908102.18000000</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>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.48600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SH2</cusip>
        <identifiers>
          <isin value="US912810SH23"/>
          <other otherDesc="Inhouse Asset ID" value="981260"/>
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        <balance>14000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18029375.00000000</valUSD>
        <pctVal>0.354571662270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>12594KAB8</cusip>
        <identifiers>
          <isin value="US12594KAB89"/>
          <other otherDesc="Inhouse Asset ID" value="678537"/>
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        <balance>4600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4996157.89000000</valUSD>
        <pctVal>0.098256096399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</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>N/A</name>
        <lei>N/A</lei>
        <title>CES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="693278"/>
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        <balance>7300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85866394"/>
        <valUSD>-318079.13000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK NA</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31384VZD7</cusip>
        <identifiers>
          <isin value="US31384VZD71"/>
          <other otherDesc="Inhouse Asset ID" value="448633"/>
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        <balance>4108.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5060.68000000</valUSD>
        <pctVal>0.000099525009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas State University System</name>
        <lei>N/A</lei>
        <title>Texas State University System</title>
        <cusip>88278PZK3</cusip>
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          <isin value="US88278PZK38"/>
          <other otherDesc="Inhouse Asset ID" value="1018809"/>
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        <balance>2655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2866072.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.93800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAN0</cusip>
        <identifiers>
          <isin value="US55336VAN01"/>
          <other otherDesc="Inhouse Asset ID" value="875358"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1974361.00000000</valUSD>
        <pctVal>0.038828437574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</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>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCG4</cusip>
        <identifiers>
          <isin value="US20030NCG43"/>
          <other otherDesc="Inhouse Asset ID" value="681131"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2446349.86000000</valUSD>
        <pctVal>0.048110726875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.04900000</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>36218S4U1</cusip>
        <identifiers>
          <isin value="US36218S4U17"/>
          <other otherDesc="Inhouse Asset ID" value="282702"/>
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        <balance>2945.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2957.36000000</valUSD>
        <pctVal>0.000058160421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="694130"/>
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        <balance>60150000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.85866394"/>
        <valUSD>-3502111.59000000</valUSD>
        <pctVal>-0.06887368685</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
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        <name>Israel Electric Corp. Ltd.</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>United States of America</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Voya CLO Ltd.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <maturityDt>2031-09-01</maturityDt>
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        <name>BlueMountain CLO Ltd.</name>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="181566"/>
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        <curCd>N/A</curCd>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>EnLink Midstream LLC</name>
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        <name>NIKE, Inc.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>InterGen NV</name>
        <lei>549300E3XRGX2JMPEC79</lei>
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        <invCountry>NL</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Brightspring Health Services</name>
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        <cusip>71913BAF9</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1112996"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2026-03-05</maturityDt>
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        <name>Valaris plc</name>
        <lei>7N0UJMJLXD0MDT5D5086</lei>
        <title>Valaris plc</title>
        <cusip>91889DAF3</cusip>
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          <other otherDesc="Inhouse Asset ID" value="588303"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Reynolds American, Inc.</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>Reynolds American, Inc.</title>
        <cusip>761713BB1</cusip>
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          <isin value="US761713BB19"/>
          <other otherDesc="Inhouse Asset ID" value="606431"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>365809.27000000</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>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CSM Bakery Solutions Ltd.</name>
        <lei>N/A</lei>
        <title>CSM Bakery Solutions Ltd., Second Lien Term Loan</title>
        <cusip>60001PAD9</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1081228"/>
        </identifiers>
        <balance>141101.82000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136339.63000000</valUSD>
        <pctVal>0.002681300335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>11.00000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3128L0SJ2</cusip>
        <identifiers>
          <isin value="US3128L0SJ23"/>
          <other otherDesc="Inhouse Asset ID" value="404789"/>
        </identifiers>
        <balance>39427.58000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45717.42000000</valUSD>
        <pctVal>0.000899093928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31389YAA9</cusip>
        <identifiers>
          <isin value="US31389YAA91"/>
          <other otherDesc="Inhouse Asset ID" value="256229"/>
        </identifiers>
        <balance>1287.89000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1467.59000000</valUSD>
        <pctVal>0.000028862111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>FNMA, 30 Year, Single Family</title>
        <cusip>01F0226B6</cusip>
        <identifiers>
          <isin value="US01F0226B66"/>
          <other otherDesc="Inhouse Asset ID" value="1014128"/>
        </identifiers>
        <balance>348659000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>363299951.49000000</valUSD>
        <pctVal>7.144777215107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-25</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>Caterpillar, Inc.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>Caterpillar, Inc.</title>
        <cusip>149123CJ8</cusip>
        <identifiers>
          <isin value="US149123CJ87"/>
          <other otherDesc="Inhouse Asset ID" value="1067767"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2226742.76000000</valUSD>
        <pctVal>0.043791860886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 15 Year</title>
        <cusip>3128PHHN4</cusip>
        <identifiers>
          <isin value="US3128PHHN41"/>
          <other otherDesc="Inhouse Asset ID" value="405652"/>
        </identifiers>
        <balance>19246.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19739.01000000</valUSD>
        <pctVal>0.000388193910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>31292GMR4</cusip>
        <identifiers>
          <isin value="US31292GMR47"/>
          <other otherDesc="Inhouse Asset ID" value="447376"/>
        </identifiers>
        <balance>2471.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2691.67000000</valUSD>
        <pctVal>0.000052935274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-01</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>Providence St Joseph Health Obligated Group</name>
        <lei>N/A</lei>
        <title>Providence St Joseph Health Obligated Group, Series H</title>
        <cusip>743756AB4</cusip>
        <identifiers>
          <isin value="US743756AB40"/>
          <other otherDesc="Inhouse Asset ID" value="646195"/>
        </identifiers>
        <balance>8875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9666067.80000000</valUSD>
        <pctVal>0.190096091931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.74600000</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, REMIC, Series 2005-122, Class FN</title>
        <cusip>31394VEX4</cusip>
        <identifiers>
          <isin value="US31394VEX47"/>
          <other otherDesc="Inhouse Asset ID" value="415072"/>
        </identifiers>
        <balance>380187.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>368834.16000000</valUSD>
        <pctVal>0.007253614793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.49925200</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>SkyMiles IP Ltd. / Delta Air Lines, Inc.</name>
        <lei>N/A</lei>
        <title>SkyMiles IP Ltd. (Delta Air Lines, Inc.), Term Loan</title>
        <cusip>24736CBS2</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1109685"/>
        </identifiers>
        <balance>518714.92000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>517742.33000000</valUSD>
        <pctVal>0.010182092200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75000000</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>FHLMC Structured Agency Credit Risk Debt Notes</name>
        <lei>N/A</lei>
        <title>FHLMC Structured Agency Credit Risk Debt Notes, Series 2015-HQ1, Class M3</title>
        <cusip>3137G0EJ4</cusip>
        <identifiers>
          <isin value="US3137G0EJ46"/>
          <other otherDesc="Inhouse Asset ID" value="600302"/>
        </identifiers>
        <balance>4451267.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4464273.01000000</valUSD>
        <pctVal>0.087795872124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.94925000</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>Antares CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Antares CLO Ltd., Series 2018-1A, Class B</title>
        <cusip>03665MAC5</cusip>
        <identifiers>
          <isin value="US03665MAC55"/>
          <other otherDesc="Inhouse Asset ID" value="687904"/>
        </identifiers>
        <balance>12900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12135212.81000000</valUSD>
        <pctVal>0.238655115779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.86837800</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3128MJJJ0</cusip>
        <identifiers>
          <isin value="US3128MJJJ04"/>
          <other otherDesc="Inhouse Asset ID" value="429715"/>
        </identifiers>
        <balance>164758.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192741.90000000</valUSD>
        <pctVal>0.003790526064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31378RVH9</cusip>
        <identifiers>
          <isin value="US31378RVH91"/>
          <other otherDesc="Inhouse Asset ID" value="177449"/>
        </identifiers>
        <balance>5484.05000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5501.90000000</valUSD>
        <pctVal>0.000108202188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.32600000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828ZC7</cusip>
        <identifiers>
          <isin value="US912828ZC78"/>
          <other otherDesc="Inhouse Asset ID" value="1049764"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51742187.50000000</valUSD>
        <pctVal>1.017579002677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12500000</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>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HCE3</cusip>
        <identifiers>
          <isin value="US14040HCE36"/>
          <other otherDesc="Inhouse Asset ID" value="1068411"/>
        </identifiers>
        <balance>12900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14302121.51000000</valUSD>
        <pctVal>0.281270260216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</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>Martin Midstream Partners LP / Martin Midstream Finance Corp.</name>
        <lei>N/A</lei>
        <title>Martin Midstream Partners LP / Martin Midstream Finance Corp.</title>
        <cusip>573334AF6</cusip>
        <identifiers>
          <isin value="US573334AF63"/>
          <other otherDesc="Inhouse Asset ID" value="1098891"/>
        </identifiers>
        <balance>151936.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153835.20000000</valUSD>
        <pctVal>0.003025374012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Car Rental LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lending Club Corp. LCX</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>CARLYLE US CLO Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LCM 26 Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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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>2032-07-01</maturityDt>
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      <invstOrSec>
        <name>Grifols Worldwide Operations Ltd.</name>
        <lei>N/A</lei>
        <title>Grifols Worldwide Operations Ltd., Term Loan B</title>
        <cusip>39843PAG8</cusip>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.</name>
        <lei>N/A</lei>
        <title>Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.</title>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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      <invstOrSec>
        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-03</maturityDt>
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      <invstOrSec>
        <name>Five Point Operating Co. LP / Five Point Capital Corp.</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Mitchell International, Inc.</name>
        <lei>X8NPN6PWJOM1QCTYFV34</lei>
        <title>Mitchell International, Inc., First Lien Term Loan</title>
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        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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        <invCountry>US</invCountry>
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        <name>Citigroup Capital XIII</name>
        <lei>N/A</lei>
        <title>Citigroup Capital XIII</title>
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        <name>Bemis Co., Inc.</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
        <title>Bemis Co., Inc.</title>
        <cusip>081437AT2</cusip>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>DaVita, Inc.</name>
        <lei>N/A</lei>
        <title>DaVita, Inc., Term Loan B1</title>
        <cusip>23918VAY0</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GJB6</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1065121"/>
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        <balance>6700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7019943.56000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.59200000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>3128M5GZ7</cusip>
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          <isin value="US3128M5GZ79"/>
          <other otherDesc="Inhouse Asset ID" value="404960"/>
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        <balance>297103.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344129.23000000</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>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>SVB Financial Group</name>
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        <title>SVB Financial Group</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Plastipak Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Plastipak Holdings, Inc.</title>
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          <isin value="US727610AN78"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Epicor Software Corp.</name>
        <lei>N/A</lei>
        <title>Epicor Software Corp., Term Loan</title>
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          <other otherDesc="Inhouse Asset ID" value="1094986"/>
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        <curCd>USD</curCd>
        <valUSD>357768.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Upgrade Master Pass-Thru Trust</name>
        <lei>54930089533DCF1JSH22</lei>
        <title>Upgrade Master Pass-Thru Trust, Series 2019-PT2, Class A</title>
        <cusip>91531XAB0</cusip>
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          <isin value="US91531XAB01"/>
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        <balance>3606549.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3536681.72000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd.</title>
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          <isin value="US01609WAT99"/>
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        <balance>18400000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="120385"/>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US6174468Q59"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.18800000</annualizedRt>
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      <invstOrSec>
        <name>Consumer Loan Underlying Bond Certificate Issuer Trust I</name>
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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>Battalion Oil Corp.</name>
        <lei>3XHTN2NNIMMPORDAMJ28</lei>
        <title>Battalion Oil Corp.</title>
        <cusip>07134L115</cusip>
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        <balance>3189.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Bonds</title>
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          <isin value="US912810PV44"/>
          <other otherDesc="Inhouse Asset ID" value="411139"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC / CCO Holdings Capital Corp.</title>
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          <isin value="US1248EPBX05"/>
          <other otherDesc="Inhouse Asset ID" value="671572"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1581000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Harbor Freight Tools USA, Inc.</name>
        <lei>N/A</lei>
        <title>Harbor Freight Tools USA, Inc., Term Loan</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2027-10-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 30 Year</title>
        <cusip>31283HRL1</cusip>
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          <isin value="US31283HRL14"/>
          <other otherDesc="Inhouse Asset ID" value="258886"/>
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        <balance>11891.62000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13905.88000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>CHS/Community Health Systems, Inc.</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems, Inc.</title>
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          <isin value="US12543DAY67"/>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="52733"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-44581.01000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Adient US LLC</name>
        <lei>213800SOTRCDGZUHL712</lei>
        <title>Adient US LLC</title>
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          <isin value="US00688JAA51"/>
          <other otherDesc="Inhouse Asset ID" value="978567"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3205095.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>BP Capital Markets America, Inc.</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>California Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority</title>
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      <invstOrSec>
        <name>Octagon Loan Funding Ltd.</name>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>Nielsen Finance LLC (VNU, Inc.)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Metropolitan St Louis Sewer District</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Neuberger Berman CLO XVI-S Ltd.</name>
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        <cusip>64131TAJ3</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Delta Air Lines, Inc. / SkyMiles IP Ltd.</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <title>Marsh &amp; McLennan Cos., Inc.</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
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      <invstOrSec>
        <name>Prosper Pass-Thru Trust III</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31371JPX6</cusip>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>AMMC CLO 15 Ltd.</name>
        <lei>549300D0GYBG49KJD582</lei>
        <title>AMMC CLO 15 Ltd., Series 2014-15A, Class BRR</title>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Aker BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
        <title>Aker BP ASA</title>
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      <invstOrSec>
        <name>BWay Holding Co.</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>BWay Holding Co., Term Loan</title>
        <cusip>05604XAP1</cusip>
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        <valUSD>1595219.25000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.47950000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2017-2, Class A1</title>
        <cusip>89173HAA4</cusip>
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        <name>AMMC CLO XI Ltd.</name>
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        <name>FHLMC</name>
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        <name>TCI-Flatiron CLO Ltd.</name>
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        <name>Coty, Inc.</name>
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        <name>State of Oregon Department of Transportation</name>
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        <name>Octagon Investment Partners XVII Ltd.</name>
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        <name>NIKE, Inc.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
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        <name>Adient US LLC</name>
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        <name>Commscope, Inc.</name>
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        <name>Weatherford International Ltd.</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>Weatherford International Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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          <other otherDesc="Inhouse Asset ID" value="1059027"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Allison Transmission, Inc.</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Perforce Software, Inc.</name>
        <lei>N/A</lei>
        <title>Perforce Software, Inc., First Lien Term Loan</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Home Mortgage Investment Trust</name>
        <lei>N/A</lei>
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          <isin value="US02660TBN28"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CAD39"/>
          <other otherDesc="Inhouse Asset ID" value="1096601"/>
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        <balance>22200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21843585.88000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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      <invstOrSec>
        <name>CNAC HK Finbridge Co. Ltd.</name>
        <lei>549300US1UQ7R7WABI28</lei>
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          <isin value="XS2011969735"/>
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        <balance>7100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7498061.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Industry Public Facilities Authority</name>
        <lei>N/A</lei>
        <title>Industry Public Facilities Authority</title>
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          <isin value="US45656TBQ04"/>
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        <curCd>USD</curCd>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
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          <isin value="US29444UBE55"/>
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        <balance>3500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kenan Advantage Group Holdings Corp.</name>
        <lei>N/A</lei>
        <title>Kenan Advantage Group Holdings Corp., Term Loan</title>
        <cusip>48853UAZ3</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1040217"/>
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        <balance>187287.54000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-29</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CLUB Certificate Issuer Trust 1</name>
        <lei>N/A</lei>
        <title>CLUB Certificate Issuer Trust 1, Series 2018-14, Class PT</title>
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          <isin value="US21052DAA28"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810SJ88"/>
          <other otherDesc="Inhouse Asset ID" value="1001329"/>
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        <balance>39000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44504179.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="691338"/>
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        <balance>4725000.00000000</balance>
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        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
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                <issuerName>Nabors Industries, Inc.</issuerName>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
        <title>Burlington Northern Santa Fe LLC</title>
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      <invstOrSec>
        <name>Murphy Oil USA, Inc.</name>
        <lei>N32S6DTR2ZZ5222WHV58</lei>
        <title>Murphy Oil USA, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Gilroy Unified School District</name>
        <lei>N/A</lei>
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        <cusip>376087GM8</cusip>
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        <balance>7220000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Navicure, Inc.</name>
        <lei>N/A</lei>
        <title>Navicure, Inc., First Lien Term Loan</title>
        <cusip>63939WAG8</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1046264"/>
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        <balance>995000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>973025.43000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.14775000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Alliant Holdings Intermediate LLC, Term Loan B</title>
        <cusip>01881UAH8</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1114331"/>
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        <balance>41671.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41346.08000000</valUSD>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <amtCurSold>14000000000.00000000</amtCurSold>
            <curSold>KRW</curSold>
            <amtCurPur>11820131.37000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2021-03-10</settlementDt>
            <unrealizedAppr>-497726.63000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ukraine</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government Bond</title>
        <cusip>903724AS1</cusip>
        <identifiers>
          <isin value="US903724AS16"/>
          <other otherDesc="Inhouse Asset ID" value="617119"/>
        </identifiers>
        <balance>229000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>235165.83000000</valUSD>
        <pctVal>0.004624849128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</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>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Bonds</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1074850"/>
          <other otherDesc="Future Ticker" value="UXYZ0 Comdty"/>
        </identifiers>
        <balance>-1925.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3372273.98000000</valUSD>
        <pctVal>0.066320257397</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Ultra Bonds</issueTitle>
                <identifiers>
                  <cusip value="9128284N7"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-12-21</expDate>
            <notionalAmt>-302766406.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>3372273.98000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31390REP4</cusip>
        <identifiers>
          <isin value="US31390REP47"/>
          <other otherDesc="Inhouse Asset ID" value="256213"/>
        </identifiers>
        <balance>2092.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2337.55000000</valUSD>
        <pctVal>0.000045971032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>91087BAC4</cusip>
        <identifiers>
          <isin value="US91087BAC46"/>
          <other otherDesc="Inhouse Asset ID" value="667204"/>
        </identifiers>
        <balance>17200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19188750.00000000</valUSD>
        <pctVal>0.377372315146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</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>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
        <cusip>458140BR0</cusip>
        <identifiers>
          <isin value="US458140BR09"/>
          <other otherDesc="Inhouse Asset ID" value="1057328"/>
        </identifiers>
        <balance>3100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3709601.11000000</valUSD>
        <pctVal>0.072954244500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</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>Voya CLO Ltd.</name>
        <lei>549300001G5S0D8B8343</lei>
        <title>Voya CLO Ltd., Series 2016-3A, Class CR</title>
        <cusip>92915HAU7</cusip>
        <identifiers>
          <isin value="US92915HAU77"/>
          <other otherDesc="Inhouse Asset ID" value="940293"/>
        </identifiers>
        <balance>2547170.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2277311.75000000</valUSD>
        <pctVal>0.044786367397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.46775000</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>Athene Holding Ltd.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd.</title>
        <cusip>04686JAC5</cusip>
        <identifiers>
          <isin value="US04686JAC53"/>
          <other otherDesc="Inhouse Asset ID" value="1114122"/>
        </identifiers>
        <balance>15300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15406346.48000000</valUSD>
        <pctVal>0.302986314330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Total Capital International SA</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>Total Capital International SA</title>
        <cusip>89153VAQ2</cusip>
        <identifiers>
          <isin value="US89153VAQ23"/>
          <other otherDesc="Inhouse Asset ID" value="962216"/>
        </identifiers>
        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2047129.85000000</valUSD>
        <pctVal>0.040259533888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45500000</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>K2016470219 South Africa Ltd.</name>
        <lei>378900DECAC8CFA88345</lei>
        <title>K2016470219 South Africa Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1540048235"/>
          <other otherDesc="Inhouse Asset ID" value="659137"/>
        </identifiers>
        <balance>2348535.56800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31406AGW6</cusip>
        <identifiers>
          <isin value="US31406AGW62"/>
          <other otherDesc="Inhouse Asset ID" value="329185"/>
        </identifiers>
        <balance>75533.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77438.26000000</valUSD>
        <pctVal>0.001522926478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-11-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Investors Securities Trust</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
