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        <name>Alphabet Inc.</name>
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        <name>Blackstone Inc</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>GARRETT MOTION HOLDINGS INC</name>
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        <name>ASML Holding N.V.</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>QUALCOMM Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Sunoco LP</name>
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        <name>iShares Trust</name>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR QI3509</title>
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        <name>Lowes Companies, Inc.</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>Diamondback Energy Inc</name>
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        <name>BALLYROCK CLO 27 LTD</name>
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        <name>Bristol-Myers Squibb Company</name>
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        <name>Wolters Kluwer NV</name>
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        <name>CONNECTICUT AVENUE SECURITIES TRUST 2026-R01</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Babcock International Group PLC</name>
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        <name>Bank of America Corp.</name>
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        <name>Asbury Automotive Group, Inc.</name>
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        <name>VZ Secured Financing BV</name>
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        <name>Gray Media Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>Oracle Corp.</name>
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        <name>Azorra Finance Ltd.</name>
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        <name>Atlantica Sustainable Infrastructure Group PLC</name>
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        <name>PNC Financial Services Group Inc.</name>
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        <name>JEFFERIES FINANCE LLC</name>
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        <name>Chattanooga Opportunities LLC</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <name>Metropolitan Life Global Funding I</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Bank of America Corp.</name>
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        <name>UWN Holdings LLC</name>
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        <name>Pepsico Inc</name>
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        <name>SANTANDER DRIVE AUTO 2025-1</name>
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        <name>Seven &amp; i Holdings Co Ltd.</name>
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        <name>New York Life Global Funding</name>
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        <name>Novo Nordisk A/S</name>
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        <name>HOWDEN UK REFINANCE PLC</name>
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        <name>SM Energy Co.</name>
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        <name>DRYDEN 109 CLO LTD</name>
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        <name>Citigroup Inc.</name>
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        <name>Terex Corporation</name>
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        <name>FREDDIE MAC STACR REMIC TRUST 2024-DNA3</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Barclays PLC</name>
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        <name>TOYOTA AUTO RECEIVABLES 2024-A OWNE</name>
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        <name>ILIAD HOLDING SAS</name>
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        <name>State Street Corp.</name>
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        <name>Athenahealth Group Inc.</name>
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        <name>The Progressive Corporation</name>
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        <name>ARCHROCK PARTNERS LP</name>
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        <name>Merck &amp; Co., Inc</name>
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        <name>Celanese US Holdings Llc</name>
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        <name>Resideo Funding Inc.</name>
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        <name>Olin Corporation</name>
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        <name>Williams Scotsman Inc.</name>
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        <name>United States Treasury Notes</name>
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        <name>Foundry JV Holdco LLC.</name>
        <lei>21380048QROAMGM6EP30</lei>
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        <name>FEDEX FREIGHT HOLDING COMPANY INC</name>
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        <name>SIX FLAGS ENTERTAINMENT CORP</name>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Vistra Corp</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Thermo Fisher Scientific Inc</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>Thermo Fisher Scientific Inc COM</title>
        <cusip>883556102</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SIGA Technologies Inc.</name>
        <lei>N/A</lei>
        <title>SIGA Technologies Inc. COM</title>
        <cusip>826917106</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc. CL A</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>FN MA4563</title>
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          <isin value="US31418EB908"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-01</maturityDt>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN FS7430</title>
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          <isin value="US3140XPHG77"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Financial Group Inc</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc COM</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Hyundai Auto Lease Securitization Trust</name>
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        <title>HALST 2024-C A3</title>
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          <isin value="US448984AD63"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-17</maturityDt>
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      <invstOrSec>
        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
        <lei>N/A</lei>
        <title>CHTR 7 02/01/33 144A</title>
        <cusip>1248EPCU5</cusip>
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          <isin value="US1248EPCU56"/>
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        <balance>146000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>McGraw-Hill Education Inc.</name>
        <lei>254900U6YJ9QZ4IQOR26</lei>
        <title>MHED 8 08/01/29 144A</title>
        <cusip>57767XAB6</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc CL A</title>
        <cusip>30303M102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Michaels Companies Inc.</name>
        <lei>549300H9LWMBP7HYLR98</lei>
        <title>MIK 8.5 03/15/33 144A</title>
        <cusip>59408QAB2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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        <name>Enbridge Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBCN V5.75 07/15/80 20-A</title>
        <cusip>29250NBC8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <title>PREF SHS SER20</title>
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        <name>Morgan Stanley</name>
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        <title>MS V5.664 04/17/36</title>
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        <name>CDW Corp</name>
        <lei>9845001B052ABF0B6755</lei>
        <title>CDW Corp COM</title>
        <cusip>12514G108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FR SD2477</title>
        <cusip>3132DPXE3</cusip>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Fiesta Purchaser Inc.</name>
        <lei>N/A</lei>
        <title>SHEARE 9.625 09/15/32 144A</title>
        <cusip>31659AAB2</cusip>
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          <isin value="US31659AAB26"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AERCAP IRELAND CAPITAL DAC</name>
        <lei>549300TI38531ODB1G63</lei>
        <title>AER 4.75 01/15/33</title>
        <cusip>00774MBU8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Seagate Technology Holdings PLC</name>
        <lei>635400RUXIFEZSRU8X70</lei>
        <title>Seagate Technology Holdings PLC ORD SHS</title>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>The Charles Schwab Corporation</name>
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        <name>OAKTREE CLO 2020-1 LTD</name>
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        <name>Jones Deslauriers Insurance Management Inc.</name>
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        <name>Enpro Inc</name>
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        <name>WELLINGTON MGMT 4 LTD/LLC</name>
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        <name>Vistra Corp</name>
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        <name>CVS Health Corp</name>
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        <name>Bank of America Corp.</name>
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        <name>Celanese US Holdings Llc</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>TEXAS WATER DEV BRD</name>
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        <name>Herc Holdings Inc</name>
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        <name>VMED O2 UK Financing I PLC</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>AIMCO CLO 15 LTD</name>
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        <name>Ares Capital Corp.</name>
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        <name>USA COMPRESSION PARTNERS LP</name>
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        <name>HYUNDAI AUTO RECEIVABLES TRUST 2025-D</name>
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        <name>Univision Communications Inc.</name>
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        <name>Davita Inc</name>
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        <name>Dell Technologies Inc</name>
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        <name>Apollo Global Management Inc</name>
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        <name>McGraw-Hill Education Inc.</name>
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        <name>BAY AREA TOLL AUTH CALIF</name>
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        <name>NEW JERSEY ST TPK AUTH</name>
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        <name>AGL CLO 17 LTD</name>
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        <name>Fiesta Purchaser Inc.</name>
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        <name>Iron Mountain Inc.</name>
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        <name>Amcor PLC</name>
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        <name>Oracle Corp.</name>
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        <name>VICI Properties LP</name>
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        <name>Federal National Mortgage Association</name>
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        <name>WULF Compute LLC</name>
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        <name>AT&amp;T Inc</name>
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        <name>Federal National Mortgage Association</name>
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        <name>ARDAGH METAL PACKAGING FINANCE USA LLC</name>
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        <name>Intertek Group PLC</name>
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        <name>Arsenal AIC Parent LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Blackrock Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Jacobs Solutions Inc.</name>
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        <name>Banque Federative du Credit Mutuel</name>
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        <name>Cerdia Finanz Gmbh</name>
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        <name>Microsoft Corp.</name>
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        <name>Surgery Center Holdings, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Pfizer Inc.</name>
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        <name>Alphabet Inc.</name>
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        <name>Venture Global LNG Inc.</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>CLARIOS GLOBAL LP</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>Enbridge Inc.</name>
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        <name>Blue Owl Credit Income Corp.</name>
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        <name>Deutsche Bank AG New York Branch</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>HCA Inc.</name>
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        <name>Alphabet Inc.</name>
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        <name>Truist Financial Corp.</name>
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        <name>Bunge Ltd Finance Corp.</name>
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        <name>Johnson &amp; Johnson</name>
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        <name>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
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        <name>Royal Bank of Canada</name>
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        <name>Jefferies Financial Group Inc</name>
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        <name>Enbridge Inc.</name>
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        <name>Venture Global LNG Inc.</name>
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        <name>Standard Building Solutions Inc.</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>Jp Morgan Mortgage Trust 2015-5</name>
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        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc. COM</title>
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        <name>United States Treasury Bonds</name>
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        <name>Blackstone Reg Finance Co LLC</name>
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        <name>Transocean International Ltd.</name>
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        <name>SHIFT4 PAYMENTS LLC</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <name>Commercial Metals Company</name>
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        <name>BENCHMARK MTG TR 2022-B32</name>
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        <name>United Parcel Service, Inc.</name>
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        <name>CSC Holdings, LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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        <name>OneMain Financial Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Artisan Partners Asset Management Inc.</name>
        <lei>549300T1FUI6JF63XU51</lei>
        <title>Artisan Partners Asset Management Inc. CL A</title>
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        <name>AbbVie Inc.</name>
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        <name>TPG Operating Group II LP</name>
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        <name>Henneman Trust</name>
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        <title>GL 6.58 05/15/55 144A</title>
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        <name>KDDI Corp</name>
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        <name>Duke Energy Corp</name>
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        <title>Duke Energy Corp COM NEW</title>
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        <name>Boeing Co.</name>
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        <title>BA 6.388 05/01/31</title>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <title>CHTR 4.5 05/01/32</title>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>FN MA4305</title>
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        <name>CDW LLC / CDW Finance Corp</name>
        <lei>N/A</lei>
        <title>CDW 3.276 12/01/28</title>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORCL 5.7 02/04/36</title>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>William Carter Company</name>
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        <name>Constellation Energy Generation LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>BENCHMARK 2022-B36 MORTGAGE TRUST</name>
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        <name>Banco Santander SA</name>
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        <name>JPMDB Commercial Mortgage Securities Trust 2017-C7</name>
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        <name>SIX FLAGS ENTERTAINMENT CORP</name>
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        <name>Sysco Corporation</name>
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        <name>Morgan Stanley</name>
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        <name>Bunge Ltd Finance Corp.</name>
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        <name>Millrose Properties Inc.</name>
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        <name>Booking Holdings Inc</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Caesars Entertainment Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>HUB International Ltd.</name>
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        <name>Bank of Montreal</name>
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        <name>Boeing Co.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Pfizer Inc.</name>
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        <name>Caesars Entertainment Inc.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Abbott Laboratories</name>
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        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
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        <name>NetApp Inc.</name>
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        <name>Magnetite XLV Ltd.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>OHA CREDIT PARTNERS VII LTD</name>
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        <name>Lowes Companies, Inc.</name>
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        <name>Caesars Entertainment Inc.</name>
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        <name>PPG Industries, Inc.</name>
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        <name>Dupont De Nemours Inc</name>
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        <name>Herc Holdings Inc</name>
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        <name>Bank 2017-Bnk5 206</name>
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        <name>Smbc Aviation Capital Finance</name>
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        <name>Nustar Logistics, L.P.</name>
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        <name>Air Lease Corporation</name>
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        <name>Merck &amp; Co., Inc</name>
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        <name>Venture Global Plaquemines Lng LLC</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Huntington Bancshares Incorporated</name>
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        <name>AMYNTA AGENCY BORROWER INC</name>
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        <name>Roche Holding AG</name>
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        <name>Boyd Gaming Corporation</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>U.S. Bank National Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>T 5.7 11/01/54</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Iron Mountain Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRM 4.5 02/15/31 144A</title>
        <cusip>46284VAN1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Oneok Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>OKE 5.7 11/01/54</title>
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          <isin value="US682680CF86"/>
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        <balance>90000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <name>Merck &amp; Co., Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MRK 5.55 12/04/55</title>
        <cusip>58933YCB9</cusip>
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        <balance>320000.00000000</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>2055-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United Airlines Holdings Inc</name>
        <lei>98450079DA0B78DD6764</lei>
        <title>UAL 5.375 03/01/31</title>
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          <isin value="US910047AL34"/>
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        <balance>46000.00000000</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>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>C V6.75 PERP EE</title>
        <cusip>172967PR6</cusip>
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          <isin value="US172967PR67"/>
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        <balance>1003000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1026806.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Olympus Water US Holding Corp.</name>
        <lei>549300YU2GGVCBN3MY89</lei>
        <title>SOLEIN 7.25 02/15/33 144*</title>
        <cusip>681639AE0</cusip>
        <identifiers>
          <isin value="US681639AE00"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199267.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Noble Finance II LLC.</name>
        <lei>N/A</lei>
        <title>NEFINA 8 04/15/30 144A</title>
        <cusip>65505PAA5</cusip>
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          <isin value="US65505PAA57"/>
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        <balance>165000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN MA1213</title>
        <cusip>31418AK31</cusip>
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        <name>Natwest Markets PLC</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NWG 5.022 03/21/30 144A</title>
        <cusip>63906YAP3</cusip>
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        <invCountry>GB</invCountry>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>TMUS 3.75 04/15/27</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN CA6592</title>
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        <name>HILCORP ENERGY I LP</name>
        <lei>549300ITPIHLG0LHEC09</lei>
        <title>HILCRP 6 04/15/30 144A</title>
        <cusip>431318AY0</cusip>
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        <name>Chevron Corp.</name>
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        <title>Chevron Corp. COM</title>
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        <name>GS Mortgage Securities Trust 2019-GC42</name>
        <lei>N/A</lei>
        <title>GSMS 2019-GC42 A4</title>
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        <name>ESAB Corp.</name>
        <lei>549300ZNV0SWBXEIWT04</lei>
        <title>ESAB 6.25 04/15/29 144A</title>
        <cusip>29605JAA4</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LIBERTY STREET TRUST 2026-225L</name>
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        <name>Truist Financial Corp.</name>
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        <name>United States Treasury Notes</name>
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        <name>CMG Media Corp.</name>
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        <name>NextEra Energy Capital Holdings Inc</name>
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        <name>U.S. Bancorp.</name>
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        <name>Cipher Compute LLC</name>
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        <name>Pennymac Financial Services Inc</name>
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        <name>CHICAGO BOARD OF TRADE</name>
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        <name>Medline Borrower LP</name>
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        <name>Air Liquide S.A.(L')</name>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <name>Micron Technology Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology Inc. COM</title>
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        <name>Canyon Clo 2020-2 Ltd/Canyon Clo 2020-2 Llc</name>
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        <name>CSC Holdings, LLC</name>
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        <name>LEX TRUST 2026-450</name>
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        <name>White Cap Supply Holdings LLC</name>
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        <name>Tenet Healthcare Corporation</name>
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        <name>Blackstone Private Credit Fund</name>
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        <name>Government National Mortgage Association</name>
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        <name>Asahi Group Holdings Ltd</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Carnival Corporation</name>
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        <name>Crescent Energy Finance LLC</name>
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        <name>Goldman Sachs Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Genesis Energy LP &amp; Genesis Energy Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CIFC FUNDING 2025-I LTD</name>
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        <name>OneMain Financial Corporation</name>
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        <name>Schneider Electric SE</name>
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        <name>Makita Corp.</name>
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        <name>Jefferies Financial Group Inc</name>
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        <name>Gilead Sciences Inc.</name>
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        <title>Gilead Sciences Inc. COM</title>
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        <name>Kinder Morgan, Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Fidelity National Financial, Inc.</name>
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        <name>Genuine Parts Co</name>
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        <name>Bank of Montreal</name>
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        <name>Synchrony Financial</name>
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        <name>Gulfport Energy Operating Corp.</name>
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        <name>Fixed Income Pass-Through Tr 2007-B</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Blackstone Private Credit Fund</name>
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        <name>ION PLATFORM FINANCE US INC</name>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SVB Financial Group</name>
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        <name>Elmwood CLO 22 LTD / LLC</name>
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        <name>Federal National Mortgage Association</name>
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          <isin value="US3140XGTV18"/>
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        <name>Sirius Xm Radio Inc</name>
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        <name>Energy Transfer LP</name>
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        <name>Huntington Bancshares Incorporated</name>
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        <name>Mckesson Corp.</name>
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        <title>Mckesson Corp. COM</title>
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        <name>Altria Group, Inc.</name>
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        <name>Vistra Operations Co LLC</name>
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        <name>HILCORP ENERGY I LP</name>
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        <name>Foundry JV Holdco LLC.</name>
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        <name>GENESIS ENERGY LP</name>
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        <name>Freddie Mac Stacr Remic Trust</name>
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        <name>Celanese US Holdings Llc</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
        <title>CE 7.375 02/15/34</title>
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        <name>FMG Resources (August 2006) Pty Ltd.</name>
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        <name>Prologis Inc.</name>
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        <name>Edison International</name>
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        <name>GENMAB A/S</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>OmniAb Inc.</name>
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        <name>Dover Corporation</name>
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        <name>Unilever PLC</name>
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        <name>The TJX Companies Inc.</name>
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        <title>The TJX Companies Inc. COM</title>
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        <name>Qnity Electronics Inc.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Citigroup Inc.</name>
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        <name>BAIN CAPITAL CREDIT CLO 2021-7 LTD</name>
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        <name>Kao Corp.</name>
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        <name>DEUTSCHE BANK AG NEW YORK BRANCH</name>
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        <name>Hawaiian Electric Company, Inc.</name>
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        <name>Sealed Air Corp.</name>
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        <name>Marriott International, Inc.</name>
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        <name>DSV AS</name>
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        <name>Bank 2020-Bnk25</name>
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        <name>Nike, Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>UNITI SERVICES LLC</name>
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        <name>Adidas AG</name>
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        <name>Pine Street Trust III</name>
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        <name>PUBLIC FIN AUTH WIS</name>
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        <name>iShares Trust</name>
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        <name>Oracle Corp.</name>
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        <name>Smith &amp; Nephew PLC</name>
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        <name>PNC Financial Services Group Inc.</name>
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        <name>Towd Point Mortgage Trust 2017 2</name>
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        <name>Hershey Co. (The)</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>Verizon Communications Inc.</name>
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        <name>CF MORTGAGE TR 2019-CF2</name>
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        <name>Expand Energy Corp.</name>
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        <name>CCO Holdings, LLC/ CCO Holdings Capital Corp.</name>
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        <name>NVIDIA Corp.</name>
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        <name>Fidelity Colchester Street Trust</name>
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        <name>Verizon Communications Inc.</name>
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        <name>Amazon.com, Inc.</name>
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        <name>United States Treasury Notes</name>
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        <name>Apple Inc.</name>
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        <name>Union Electric Company</name>
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        <name>Sealed Air Corp. / Sealed Air Corp. US</name>
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        <name>FREDDIE MAC STACR REMIC TRUST 2025-DNA3</name>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>TOYOTA AUTO LN EXTND NT 2022-1</name>
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        <name>AMN Healthcare Inc.</name>
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        <name>Grifols S.A.</name>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <title>FR SD7530</title>
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        <name>NESTLE' CAPITAL MARKETS SA</name>
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        <name>Opal Bidco SAS</name>
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        <name>Forestar Group Inc.</name>
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        <name>HILCORP ENERGY I LP</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>Calpine LLC</name>
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        <name>Aviation Capital Group LLC</name>
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        <name>GS MORTGAGE SECURITIES TRUST 2015-GS1</name>
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        <title>GSMS 2019-GC39 A4</title>
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        <name>Capstone Borrower Inc.</name>
        <lei>254900YSP2BAI3YKIX08</lei>
        <title>CVT 8 06/15/30 144A</title>
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        <name>Rogers Communications Inc.</name>
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        <name>Regions Financial Corporation</name>
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        <name>CONNECTICUT AVENUE SECURITIES TRUST 2025-R04</name>
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        <name>Carpenter Technology Corporation</name>
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        <name>U.S. Bancorp.</name>
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        <name>Jefferies Financial Group Inc</name>
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        <name>Vistra Operations Co LLC</name>
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        <name>Cencora Inc</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Cfcre 2016 C7 Mortgage Trust</name>
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        <name>Amentum Escrow Corp.</name>
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        <name>BENCHMARK 2022-B33 MORTGAGE TRUST</name>
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        <name>Broadcom Inc</name>
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        <name>Jefferies Financial Group Inc</name>
        <lei>549300HOF34RGOJ5YL07</lei>
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        <name>Prudential Financial, Inc.</name>
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        <name>Energy Transfer LP</name>
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        <name>HP Inc</name>
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        <name>Aviation Capital Group LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>HOWDEN UK REFINANCE 2 PLC</name>
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        <name>Goodyear Tire &amp; Rubber Co. The</name>
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        <name>Energy Transfer LP</name>
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        <name>PFS Financing Corp</name>
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        <name>The Bank of New York Mellon Corp.</name>
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        <name>United States Treasury Notes</name>
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        <name>Snap Inc</name>
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        <name>LSF12 Helix Parent LLC</name>
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        <name>AbbVie Inc.</name>
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        <name>Citigroup Inc.</name>
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        <name>Enbridge Inc.</name>
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        <name>Broadcom Inc</name>
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        <name>Amazon.com, Inc.</name>
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        <name>BlackRock Liquidity Funds</name>
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        <name>AIMCO CLO 17 LTD</name>
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        <name>CONNECTICUT AVENUE SECURITIES TRUST 2025-R01</name>
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        <name>SEQUOIA MORTGAGE TRUST 2015-1</name>
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        <name>UBS Group AG</name>
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        <name>Teledyne Technologies Inc</name>
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        <name>Exxon Mobil Corp.</name>
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        <name>Matador Resources Company</name>
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        <name>CANYON CLO 2019-2 LTD</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Bank of America Corp.</name>
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        <name>Government National Mortgage Association</name>
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        <name>BPCE SA</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Citigroup Inc.</name>
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        <name>Capstone Copper Corp</name>
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        <name>Nissan Master Owner Trust Receivables Series 2024-B</name>
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        <name>Anheuser-Busch Inbev SA/NV</name>
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        <name>Molina Healthcare, Inc.</name>
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        <name>Sable International Finance Limited</name>
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        <name>Cardinal Health, Inc.</name>
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        <name>Marriott International, Inc.</name>
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        <name>Benchmark 2020-B16 Mortgage Trust</name>
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        <name>Global Medical Response Incorporated</name>
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        <name>Federal National Mortgage Association</name>
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        <title>FN BM4681</title>
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        <name>Enbridge Inc.</name>
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        <invCountry>CA</invCountry>
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        <name>Monolithic Power Systems Inc.</name>
        <lei>529900TB7O85LSZ1XU31</lei>
        <title>Monolithic Power Systems Inc. COM</title>
        <cusip>609839105</cusip>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5180040.42000000</valUSD>
        <pctVal>0.620146778838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc. COM</title>
        <cusip>025932104</cusip>
        <identifiers>
          <isin value="US0259321042"/>
          <ticker value="AFG"/>
        </identifiers>
        <balance>30532.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4060145.36000000</valUSD>
        <pctVal>0.486074598356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPM V5.103 04/22/31</title>
        <cusip>46647PEY8</cusip>
        <identifiers>
          <isin value="US46647PEY88"/>
        </identifiers>
        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321550.69000000</valUSD>
        <pctVal>0.038495573097</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10300000</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>SOUTH CAROLINA PUB SVC AUTH</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
        <title>SC SCSUTL 4.77 12/01/2045</title>
        <cusip>837151NP0</cusip>
        <identifiers>
          <isin value="US837151NP08"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57840.00000000</valUSD>
        <pctVal>0.006924519266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.77000000</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 MA7988</title>
        <cusip>36179W2V9</cusip>
        <identifiers>
          <isin value="US36179W2V97"/>
        </identifiers>
        <balance>1459528.84000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1339680.80000000</valUSD>
        <pctVal>0.160384604256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>TMUS 5.875 11/15/55</title>
        <cusip>87264ADU6</cusip>
        <identifiers>
          <isin value="US87264ADU60"/>
        </identifiers>
        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111187.86000000</valUSD>
        <pctVal>0.013311246174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>RHP HOTEL PROPERTIES LP</name>
        <lei>549300SJMSMA2471GA96</lei>
        <title>RHP 6.5 06/15/33 144A</title>
        <cusip>749571AL9</cusip>
        <identifiers>
          <isin value="US749571AL97"/>
        </identifiers>
        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>223466.70000000</valUSD>
        <pctVal>0.026753102861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 MB0305</title>
        <cusip>3618N5KT5</cusip>
        <identifiers>
          <isin value="US3618N5KT53"/>
        </identifiers>
        <balance>1021324.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>983239.58000000</valUSD>
        <pctVal>0.117711988502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tcw Clo 2019-2 Ltd</name>
        <lei>N/A</lei>
        <title>TCW 2019-2A D1R2</title>
        <cusip>87242BBQ2</cusip>
        <identifiers>
          <isin value="US87242BBQ23"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191651.40000000</valUSD>
        <pctVal>0.022944222193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66763000</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>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VZ 5 01/15/36</title>
        <cusip>92343VHG2</cusip>
        <identifiers>
          <isin value="US92343VHG23"/>
        </identifiers>
        <balance>335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>336615.00000000</valUSD>
        <pctVal>0.040299050013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Brookfield Finance Inc.</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>BNCN 5.33 01/15/36</title>
        <cusip>11271LAQ5</cusip>
        <identifiers>
          <isin value="US11271LAQ59"/>
        </identifiers>
        <balance>620000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>619136.71000000</valUSD>
        <pctVal>0.074122131341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.33000000</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>Gray Media Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>GTN 5.375 11/15/31 144A</title>
        <cusip>389286AA3</cusip>
        <identifiers>
          <isin value="US389286AA34"/>
        </identifiers>
        <balance>257000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202572.18000000</valUSD>
        <pctVal>0.024251641825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>Alphabet Inc.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet Inc. CAP STK CL C</title>
        <cusip>02079K107</cusip>
        <identifiers>
          <isin value="US02079K1079"/>
          <ticker value="GOOG"/>
        </identifiers>
        <balance>18349.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5714429.07000000</valUSD>
        <pctVal>0.684122997762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Northrop Grumman Corporation</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corporation COM</title>
        <cusip>666807102</cusip>
        <identifiers>
          <isin value="US6668071029"/>
          <ticker value="NOC"/>
        </identifiers>
        <balance>5404.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3914549.52000000</valUSD>
        <pctVal>0.468644079698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp. COM</title>
        <cusip>060505104</cusip>
        <identifiers>
          <isin value="US0605051046"/>
          <ticker value="BAC"/>
        </identifiers>
        <balance>65650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3271339.50000000</valUSD>
        <pctVal>0.391639927283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CLOUD SOFTWARE GROUP HOLDINGS INC</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>TIBX 6.5 03/31/29 144A</title>
        <cusip>88632QAE3</cusip>
        <identifiers>
          <isin value="US88632QAE35"/>
        </identifiers>
        <balance>277000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271888.52000000</valUSD>
        <pctVal>0.032550091545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-31</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-23</ncom:dateSigned>
      <ncom:nameOfApplicant>Delaware Group Equity Funds V</ncom:nameOfApplicant>
      <ncom:signature>Dan Geatens</ncom:signature>
      <ncom:signerName>Dan Geatens</ncom:signerName>
      <ncom:title>Division Director - Head of US Fund Administration</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
