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        <name>BRIGHTHOUSE FINANCIAL GLOBAL FUNDING</name>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKT MORTGAGE TRUST 2024-CES9</name>
        <lei>N/A</lei>
        <title>WOODWARD CAPITAL MANAGEMENT RCKT 2024 CES9 A1A 144A</title>
        <cusip>749426AA0</cusip>
        <identifiers>
          <isin value="US749426AA06"/>
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        <balance>9399111.280000</balance>
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        <curCd>USD</curCd>
        <valUSD>9446198.950000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.582</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MOUNTAIN VIEW CLO XVI LTD 2022-1A</name>
        <lei>N/A</lei>
        <title>MOUNTAIN VIEW CLO MVEW 2022 1A A1R 144A</title>
        <cusip>62432UAN1</cusip>
        <identifiers>
          <isin value="US62432UAN19"/>
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        <balance>12700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12719050.000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.7161</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE 2025-35</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2025 35 FM</title>
        <cusip>3136BVJ66</cusip>
        <identifiers>
          <isin value="US3136BVJ660"/>
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        <balance>6047497.730000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6083621.250000</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>2055-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.35517</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF TOKYO-MITSUBISHI UFJ LTD/SYDNEY BRANCH</name>
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        <title>MUFG BANK LTD SYDNEY CERT OF DEPO 02/26 VAR</title>
        <cusip>ACI2CXPL2</cusip>
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          <isin value="AU3FN0075198"/>
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        <balance>39200000.000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-17</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENEL FINANCE INTERNATIONAL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
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          <isin value="USN30706VC11"/>
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        <balance>4980000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4834349.390000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.625</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO DOMINION BANK COVERED 03/26 VAR</title>
        <cusip>ACI2F4S63</cusip>
        <identifiers>
          <isin value="AU3FN0076196"/>
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        <balance>7500000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <pctVal>0.0908773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.4138</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES GOVT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY BILL 08/25 0.00000</title>
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          <isin value="US912797PN17"/>
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        <balance>1135000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1129036.680000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-14</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG SR UNSECURED 144A 01/27 VAR</title>
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          <isin value="US902613AC28"/>
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        <balance>2000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1963850.600000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA SR UNSECURED 03/28 VAR</title>
        <cusip>78017DAG3</cusip>
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          <isin value="US78017DAG34"/>
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        <balance>9325000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9356522.880000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.22422</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GALLATIN FUNDING LTD, GALLATIN CLO VII LLC 2017-1A</name>
        <lei>N/A</lei>
        <title>GALLATIN LOAN MANAGEMENT, LLC GALL 2017 1A A1R 144A</title>
        <cusip>36361UAL4</cusip>
        <identifiers>
          <isin value="US36361UAL44"/>
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        <balance>14295734.400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14331109.480000</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>2031-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.60771</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DNB BANK ASA</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB BANK ASA SR UNSECURED 144A 09/26 VAR</title>
        <cusip>23329PAF7</cusip>
        <identifiers>
          <isin value="US23329PAF71"/>
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        <balance>2500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2481604.330000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.127</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC SR UNSECURED 08/27 VAR</title>
        <cusip>404280DY2</cusip>
        <identifiers>
          <isin value="US404280DY28"/>
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        <balance>5700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5752298.240000</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>2027-08-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.87946</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>BOUGHT CAD SOLD USD 20250805</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal ID" value="25FSKBB9GQM"/>
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        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.360000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4177</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4177 MB</title>
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        <curCd>USD</curCd>
        <valUSD>1812774.510000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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                    <lei>N/A</lei>
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                  <curCd>USD</curCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>28018.030000</unrealizedAppr>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.711</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>CANADIAN NATURAL RESOURCES LIMITED</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATL RESOURCES SR UNSECURED 144A 12/29 5</title>
        <cusip>136385BB6</cusip>
        <identifiers>
          <isin value="US136385BB60"/>
        </identifiers>
        <balance>3900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3937044.580000</valUSD>
        <pctVal>0.072336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</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 2017-H14</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H14 FB</title>
        <cusip>38376R4Z6</cusip>
        <identifiers>
          <isin value="US38376R4Z67"/>
        </identifiers>
        <balance>1203443.390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1218598.110000</valUSD>
        <pctVal>0.0223895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-06-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.2274</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>CUMULUS STATIC CLO 2024-1 DAC 24-1A</name>
        <lei>N/A</lei>
        <title>CUMULUS STATIC CLO CMLST 2024 1A A 144A</title>
        <cusip>ACI2NK2H2</cusip>
        <identifiers>
          <isin value="XS2797421414"/>
        </identifiers>
        <balance>6097009.880000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>7200183.050000</valUSD>
        <pctVal>0.13229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.343</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>CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CANADIAN IMPERIAL BANK SR UNSECURED 01/28 VAR</title>
        <cusip>13607PVR2</cusip>
        <identifiers>
          <isin value="US13607PVR27"/>
        </identifiers>
        <balance>1600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1599153.200000</valUSD>
        <pctVal>0.0293815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.05752</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>NAVESINK CLO 2 LTD 2024-2A</name>
        <lei>N/A</lei>
        <title>NAVESINK CLO, LIMITED NAVS 2024 2A A1 144A</title>
        <cusip>63942YAA2</cusip>
        <identifiers>
          <isin value="US63942YAA29"/>
        </identifiers>
        <balance>4500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4502284.830000</valUSD>
        <pctVal>0.0827213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.5261</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>MIZUHO BANK LTD/ SYDNEY BRANCH</name>
        <lei>254900O5B06Y1EPP2H33</lei>
        <title>MIZUHO BANK LTD/SYDNEY CERT OF DEPO 02/26 VAR</title>
        <cusip>ACI2DBH61</cusip>
        <identifiers>
          <isin value="AU3FN0075479"/>
        </identifiers>
        <balance>22600000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
        <valUSD>14917775.980000</valUSD>
        <pctVal>0.274087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.5835</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>TRILLIUM CREDIT CARD TRUST II 2023-3A</name>
        <lei>N/A</lei>
        <title>TRILLIUM CREDIT CARD TRUST II TCCT 2023 3A A 144A</title>
        <cusip>89621ABT5</cusip>
        <identifiers>
          <isin value="US89621ABT51"/>
        </identifiers>
        <balance>50000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50037530.000000</valUSD>
        <pctVal>0.919348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16071</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>ARES XXVII CLO LTD 2013-2A</name>
        <lei>N/A</lei>
        <title>ARES CLO LTD ARES 2013 2A AR3 144A</title>
        <cusip>00190YBP9</cusip>
        <identifiers>
          <isin value="US00190YBP97"/>
        </identifiers>
        <balance>19500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19522136.400000</valUSD>
        <pctVal>0.358684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.43262</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>FREDDIE MAC REMICS 5517</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5517 VF</title>
        <cusip>3137HKP40</cusip>
        <identifiers>
          <isin value="US3137HKP400"/>
        </identifiers>
        <balance>17483330.100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17502549.520000</valUSD>
        <pctVal>0.321577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25517</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>RVPO CIBC WORLD MKTS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="965QVZ906"/>
        </identifiers>
        <balance>40000000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.361800"/>
        <valUSD>29373967.320000</valUSD>
        <pctVal>0.539693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="2IGI19DL77OX0HC3ZE78" name="Canadian Imperial Bank of Commerce"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>2.730000</repurchaseRt>
          <maturityDt>2025-07-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>42552000.000000</principalAmt>
              <principalCd>CAD</principalCd>
              <collateralVal>40761972.680000</collateralVal>
              <collateralCd>CAD</collateralCd>
              <invstCatConditional desc="International Debt" invstCat="Other instrument"/>
            </repurchaseCollateral>
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        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NELNET STUDENT LOAN TRUST 2017-3A</name>
        <lei>N/A</lei>
        <title>NELNET STUDENT LOAN TRUST NSLT 2017 3A A 144A</title>
        <cusip>64032KAA1</cusip>
        <identifiers>
          <isin value="US64032KAA16"/>
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        <balance>4605135.170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4601381.060000</valUSD>
        <pctVal>0.084542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.26965</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>HOME DEPOT INC</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC HOME DEPOT INC</title>
        <cusip>437076CY6</cusip>
        <identifiers>
          <isin value="US437076CY68"/>
        </identifiers>
        <balance>200000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200274.480000</valUSD>
        <pctVal>0.0036797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.64239</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>ARROWMARK COLORADO HOLDINGS 2018-3A</name>
        <lei>N/A</lei>
        <title>ELEVATION CLO LTD AWPT 2018 3A A1R2 144A</title>
        <cusip>28623VAN9</cusip>
        <identifiers>
          <isin value="US28623VAN91"/>
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        <balance>4700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4701792.720000</valUSD>
        <pctVal>0.0863868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.58177</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>FREDDIE MAC REMICS 5484</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5484 FA</title>
        <cusip>3137HHKS9</cusip>
        <identifiers>
          <isin value="US3137HHKS99"/>
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        <balance>12807965.810000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12840759.330000</valUSD>
        <pctVal>0.235926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.50517</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>ING GROEP NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV SR UNSECURED REGS 07/26 VAR</title>
        <cusip>N4580HAC1</cusip>
        <identifiers>
          <isin value="USN4580HAC18"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000.000000</valUSD>
        <pctVal>0.0183732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.4</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>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP SR UNSECURED 01/26 4.75</title>
        <cusip>29273RBG3</cusip>
        <identifiers>
          <isin value="US29273RBG39"/>
        </identifiers>
        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000142.780000</valUSD>
        <pctVal>0.0183758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75</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>MASTER CREDIT CARD TRUST II 2023-1A</name>
        <lei>N/A</lei>
        <title>MASTER CREDIT CARD TRUST MCCT 2023 1A A 144A</title>
        <cusip>576339DF9</cusip>
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        <curCd>USD</curCd>
        <valUSD>6402705.920000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA SR UNSECURED 08/26 VAR</title>
        <cusip>78017DAE8</cusip>
        <identifiers>
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        <balance>9500000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9507491.510000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>522 FUNDING CLO 2020-6 LTD</name>
        <lei>N/A</lei>
        <title>522 FUNDING CLO LTD MORGN 2020 6A A1R2 144A</title>
        <cusip>33835AAY5</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2020-17</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2020 17 EU</title>
        <cusip>38382CP47</cusip>
        <identifiers>
          <isin value="US38382CP473"/>
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        <units>PA</units>
        <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>2049-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ARES EUROPEAN CLO X BV 10A</name>
        <lei>N/A</lei>
        <title>ARES EUROPEAN CLO ARESE 10A AR 144A</title>
        <cusip>ACI1Y2RR3</cusip>
        <identifiers>
          <isin value="XS2347648961"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CROWN CASTLE INTERNATIONAL CORP (CCI)</name>
        <lei>54930012H97VSM0I2R19</lei>
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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>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2014-64</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2014 64 BE</title>
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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>
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      <invstOrSec>
        <name>BOEING CO/THE</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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          <isin value="US097023BR56"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>522 FUNDING CLO I LTD 2018-3A</name>
        <lei>N/A</lei>
        <title>522 FUNDING CLO LTD MORGN 2018 3A AR 144A</title>
        <cusip>33835NAA9</cusip>
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          <isin value="US33835NAA90"/>
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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>
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        <securityLending>
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      <invstOrSec>
        <name>COMMONBOND STUDENT LOAN TRUST 2017-AGS</name>
        <lei>N/A</lei>
        <title>COMMONBOND STUDENT LOAN TRUST CBSLT 2017 AGS A1 144A</title>
        <cusip>20267VAA5</cusip>
        <identifiers>
          <isin value="US20267VAA52"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHASE AUTO OWNER TRUST 2024-1A</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC</name>
        <lei>549300WTZWR07K8MNV44</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>NEW YORK LIFE GLOBAL FUNDING</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC 5557</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5557 FM</title>
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          <couponKind>Floating</couponKind>
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        <name>CARVANA AUTO RECEIVABLES TRUST 2024-P4</name>
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        <title>CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 P4 A3</title>
        <cusip>14076LAC7</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>SLM STUDENT LOAN TRUST 2013-6</name>
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        <title>SLM STUDENT LOAN TRUST SLMA 2013 6 A3</title>
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          <isin value="US78448CAG42"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.06965</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BA CREDIT CARD TRUST 2024-A1</name>
        <lei>N/A</lei>
        <title>BANK OF AMERICA CREDIT CARD TR BACCT 2024 A1 A</title>
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        <balance>11000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11169331.800000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.93</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4351</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4351 FA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE REMICS 2019-76</name>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>TOYOTA MOTOR CREDIT CORPORATION</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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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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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <curCd>USD</curCd>
        <valUSD>1937037.820000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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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>N/A</name>
        <lei>N/A</lei>
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        <currencyConditional curCd="CAD" exchangeRt="1.362300"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.58</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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        <name>CHASE AUTO OWNER TRUST 2024-5A</name>
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        <identifiers>
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        <balance>126569.200000</balance>
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        <curCd>USD</curCd>
        <valUSD>126504.760000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SBNA AUTO LEASE TRUST 2024-B</name>
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        <title>SBNA AUTO LEASE TRUST SBALT 2024 B A3 144A</title>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BX COMMERCIAL MORTGAGE TRUST 2021-21M</name>
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        <title>BX TRUST BX 2021 21M A 144A</title>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <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>TORONTO-DOMINION BANK</name>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <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>37 CAPITAL CLO I 2021-1A</name>
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        <title>37 CAPITAL CLO LTD PUTNM 2021 1A AR 144A</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <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>5.5361</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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        <name>BAYER US FINANCE II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FREDDIE MAC REMICS 5426</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HCA INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 2020-EA</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DBS GROUP HOLDINGS LTD</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS GROUP HOLDINGS LTD SR UNSECURED 144A 03/28 VAR</title>
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        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WEYERHAEUSER COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LONSDALE FINANCE PTY LIMITED</name>
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          <isin value="AU3CB0257533"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>THE BANK OF NOVA SCOTIA</name>
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        <title>BANK OF NOVA SCOTIA COVERED 10/25 VAR</title>
        <cusip>ACI29DC34</cusip>
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          <isin value="AU3FN0072757"/>
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        <balance>29000000.000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FINSBURY SQUARE 21-1GRA</name>
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        <title>FINSBURY SQUARE FSQ 2021 1GRA AGRN 144A</title>
        <cusip>ACI1YK6T2</cusip>
        <identifiers>
          <isin value="XS2352500636"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-12-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.87031</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA 144A 09/25 VAR</title>
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          <isin value="US05571AAN54"/>
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        <curCd>USD</curCd>
        <valUSD>8457487.090000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT AUD SOLD USD 20250702</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PALMER SQUARE EUROPEAN LOAN FUNDING 2025-1 DAC 25-1A</name>
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        <title>PALMER SQUARE EUROPEAN LOAN FU PSTET 2025 1A A 144A</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4707</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4707 FK</title>
        <cusip>3137F2ND4</cusip>
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          <isin value="US3137F2ND41"/>
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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>Floating</couponKind>
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        <name>ENTERPRISE FLEET FINANCING 2024-4 LLC</name>
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        <title>ENTERPRISE FLEET FINANCING LLC EFF 2024 4 A2 144A</title>
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        <curCd>USD</curCd>
        <valUSD>10016038.000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>UBS AG/SYDNEY BRANCH</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>UBS AG AUSTRALIA SR UNSECURED REGS 05/26 VAR</title>
        <cusip>ACI2FYK57</cusip>
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          <isin value="AU3FN0077962"/>
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        <balance>23800000.000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.1003</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI TRUST BANK LIMITED</name>
        <lei>5493006GGLR4BTEL8O61</lei>
        <title>SUMITOMO MITSUI TR BK LT SR UNSECURED 144A 09/26 5.65</title>
        <cusip>86563VBK4</cusip>
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          <isin value="US86563VBK44"/>
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        <balance>4892000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4968757.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMB PRIVATE EDUCATION LOAN TRUST 2020-B</name>
        <lei>N/A</lei>
        <title>SMB PRIVATE EDUCATION LOAN TRU SMB 2020 B A1A 144A</title>
        <cusip>78449XAA0</cusip>
        <identifiers>
          <isin value="US78449XAA00"/>
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        <balance>5834271.050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5499270.120000</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>2053-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.29</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>ATLANTIC AVENUE 2024-3A LTD</name>
        <lei>N/A</lei>
        <title>ATLANTIC AVENUE LTD MCCP 2024 3A A 144A</title>
        <cusip>04822JAA4</cusip>
        <identifiers>
          <isin value="US04822JAA43"/>
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        <balance>22000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21992642.100000</valUSD>
        <pctVal>0.404075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.57608</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARVANA AUTO RECEIVABLES TRUST 2024-P1</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIVABLES TRUST CRVNA 2024 P1 A2 144A</title>
        <cusip>14688NAB5</cusip>
        <identifiers>
          <isin value="US14688NAB55"/>
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        <balance>1124615.220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1125872.430000</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>2027-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>FANNIE MAE REMICS 2025-16</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2025 16 FA</title>
        <cusip>3136BU5D8</cusip>
        <identifiers>
          <isin value="US3136BU5D84"/>
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        <balance>17009427.580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17011734.060000</valUSD>
        <pctVal>0.312559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.45517</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>GM FINANCIAL AUTOMOBILE LEASING TRUST 2025-1</name>
        <lei>N/A</lei>
        <title>GM FINANCIAL AUTOMOBILE LEASIN GMALT 2025 1 A2A</title>
        <cusip>36271VAB3</cusip>
        <identifiers>
          <isin value="US36271VAB36"/>
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        <balance>25000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25037235.000000</valUSD>
        <pctVal>0.460013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.54</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>SANTANDER UK GROUP HOLDINGS PLC</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>SANTANDER UK GROUP HLDGS SANTANDER UK GROUP HLDGS</title>
        <cusip>80281LAU9</cusip>
        <identifiers>
          <isin value="US80281LAU98"/>
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        <balance>5000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4995184.400000</valUSD>
        <pctVal>0.0917774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.858</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>CBRE SERVICES INC (AKA: CB RICHARD ELLIS SERVICES INC)</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE SVCS INC 07/25 ZCP</title>
        <cusip>12610BUQ3</cusip>
        <identifiers>
          <isin value="US12610BUQ30"/>
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        <balance>18300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18241172.820000</valUSD>
        <pctVal>0.335148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-24</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>SHINHAN BANK CO LTD</name>
        <lei>5493003P813VL21KG928</lei>
        <title>SHINHAN BANK SR UNSECURED REGS 09/25 1.183</title>
        <cusip>ACI1RQFC4</cusip>
        <identifiers>
          <isin value="AU3CB0274892"/>
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        <balance>600000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
        <valUSD>392066.740000</valUSD>
        <pctVal>0.0072035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.183</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>M&amp;T BANK AUTO RECEIVABLES TRUST 2024-1A</name>
        <lei>N/A</lei>
        <title>M+T BANK AUTO RECEIVABLES TRUS MTBAT 2024 1A A2 144A</title>
        <cusip>55286TAB1</cusip>
        <identifiers>
          <isin value="US55286TAB17"/>
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        <balance>4489928.600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4501526.090000</valUSD>
        <pctVal>0.0827073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.59</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>DANSKE BANK A/S 144A 09/26 VAR</title>
        <cusip>23636ABE0</cusip>
        <identifiers>
          <isin value="US23636ABE01"/>
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        <balance>2985000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2994326.450000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.259</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC REMICS 4521</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4521 AF</title>
        <cusip>3137BLN53</cusip>
        <identifiers>
          <isin value="US3137BLN539"/>
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        <balance>1564334.820000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1543701.560000</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>2041-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.79449</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>FREDDIE MAC 3171</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 3171 AF</title>
        <cusip>31396TS95</cusip>
        <identifiers>
          <isin value="US31396TS957"/>
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        <balance>594408.840000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>589617.190000</valUSD>
        <pctVal>0.0108331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.84833</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>AMERICAN EXPRESS COMPANY</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO SR UNSECURED 07/27 VAR</title>
        <cusip>025816DJ5</cusip>
        <identifiers>
          <isin value="US025816DJ56"/>
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        <balance>3336000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3349199.220000</valUSD>
        <pctVal>0.0615354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.3023</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>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VOLKSWAGEN GROUP AMERICA COMPANY GUAR REGS 08/26 VAR</title>
        <cusip>U9273AEE1</cusip>
        <identifiers>
          <isin value="USU9273AEE11"/>
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        <balance>655000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>657198.080000</valUSD>
        <pctVal>0.0120748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.38188</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>TESLA AUTO LEASE TRUST 2024-A</name>
        <lei>N/A</lei>
        <title>TESLA AUTO LEASE TRUST TESLA 2024 A A2A 144A</title>
        <cusip>88166VAB2</cusip>
        <identifiers>
          <isin value="US88166VAB27"/>
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        <balance>239020.520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239152.530000</valUSD>
        <pctVal>0.004394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37</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>JP MORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE + CO SR UNSECURED 01/27 VAR</title>
        <cusip>46647PBA3</cusip>
        <identifiers>
          <isin value="US46647PBA30"/>
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        <balance>12254000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12223188.050000</valUSD>
        <pctVal>0.224579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>WELLS FARGO &amp; COMPANY</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC REMICS 5115</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BCP TRUST 2021-330N</name>
        <lei>N/A</lei>
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        <cusip>05553BAA3</cusip>
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          <isin value="US05553BAA35"/>
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        <balance>5000000.000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>NAVIENT STUDENT LOAN TRUST 2020-IA</name>
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          <isin value="US63942AAB26"/>
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        <balance>2799047.070000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2012-66</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2012 66 AK</title>
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          <isin value="US3136A6ZN77"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 5544</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5544 F</title>
        <cusip>3137HLNN8</cusip>
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          <isin value="US3137HLNN87"/>
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        <balance>23186222.610000</balance>
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        <curCd>USD</curCd>
        <valUSD>23268990.470000</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>2055-06-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2019-18</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2019 18 FM</title>
        <cusip>3136B4PY8</cusip>
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          <isin value="US3136B4PY84"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC-4832</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4832 WF</title>
        <cusip>3137FHS61</cusip>
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          <isin value="US3137FHS610"/>
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        <balance>7542822.800000</balance>
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        <curCd>USD</curCd>
        <valUSD>7448635.570000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81449</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ATHENE GLOBAL FUNDING</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>ATHENE GLOBAL FUNDING SECURED 144A 07/26 VAR</title>
        <cusip>04685A4J7</cusip>
        <identifiers>
          <isin value="US04685A4J75"/>
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        <balance>42000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42063116.760000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.08529</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2024-H12</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2024 H12 FC</title>
        <cusip>38383KZF2</cusip>
        <identifiers>
          <isin value="US38383KZF29"/>
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        <balance>3800589.800000</balance>
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        <curCd>USD</curCd>
        <valUSD>3812913.970000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2074-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.20185</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA EDISON COMPANY</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CAL EDISON 1ST MORTGAGE 06/27 4.7</title>
        <cusip>842400HQ9</cusip>
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          <isin value="US842400HQ95"/>
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        <balance>900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>903514.330000</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>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.7</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4722</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4722 FA</title>
        <cusip>3137FAWH7</cusip>
        <identifiers>
          <isin value="US3137FAWH71"/>
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        <balance>1760360.370000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1784460.760000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.78449</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>SOLD JPY BOUGHT USD 20250702</title>
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          <other otherDesc="Internal ID" value="25EUKBBPVWW"/>
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        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="144.210000"/>
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        <pctVal>0.0000001</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>HSBC BANK PLC</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BAIN CAPITAL CREDIT CLO 2020-2 LTD</name>
        <lei>N/A</lei>
        <title>BAIN CAPITAL CREDIT CLO, LIMIT BCC 2020 2A ARR 144A</title>
        <cusip>05683EAW2</cusip>
        <identifiers>
          <isin value="US05683EAW21"/>
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        <balance>700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>701699.400000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-19</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC SR UNSECURED 12/26 VAR</title>
        <cusip>38141GXN9</cusip>
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          <isin value="US38141GXN95"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001626.330000</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>2026-12-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.11501</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>AMERICAN EXPRESS CREDIT ACCOUNT MASTER TRUST 2023-3</name>
        <lei>N/A</lei>
        <title>AMERICAN EXPRESS CREDIT ACCOUN AMXCA 2023 3 A</title>
        <cusip>02582JKD1</cusip>
        <identifiers>
          <isin value="US02582JKD18"/>
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        <balance>3100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3136288.600000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.23</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>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO + COMPANY SR UNSECURED 01/28 VAR</title>
        <cusip>95000U3S0</cusip>
        <identifiers>
          <isin value="US95000U3S00"/>
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        <name>N/A</name>
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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>CANADIAN IMPERIAL BANK OF COMMERCE/SYDNEY BRANCH</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CIBC SYDNEY COVERED 04/26 VAR</title>
        <cusip>ACI2FDKD6</cusip>
        <identifiers>
          <isin value="AU3FN0077574"/>
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        <balance>24490000.000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-21</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS GROUP AG SR UNSECURED 144A 07/26 VAR</title>
        <cusip>225401AY4</cusip>
        <identifiers>
          <isin value="US225401AY40"/>
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        <balance>5593000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5598267.930000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.373</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2019-85</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2019 85 FG</title>
        <cusip>38381XKL9</cusip>
        <identifiers>
          <isin value="US38381XKL90"/>
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        <balance>1005089.760000</balance>
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        <curCd>USD</curCd>
        <valUSD>921391.710000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA 144A 10/26 VAR</title>
        <cusip>05583JAH5</cusip>
        <identifiers>
          <isin value="US05583JAH59"/>
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        <balance>15000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14878850.850000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.652</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC SR UNSECURED 03/27 VAR</title>
        <cusip>38141GXX7</cusip>
        <identifiers>
          <isin value="US38141GXX77"/>
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        <balance>1457000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1459392.310000</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>2027-03-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.13501</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AON PLC/LONDON BRANCH</name>
        <lei>VVT2B79I2Z4U3R6BY589</lei>
        <title>AON GLOBAL LTD COMPANY GUAR 12/25 3.875</title>
        <cusip>00185AAK0</cusip>
        <identifiers>
          <isin value="US00185AAK07"/>
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        <balance>2790000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2781656.280000</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>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875</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>F&amp;G GLOBAL FUNDING</name>
        <lei>6354009CCUKJIZ7KFX73</lei>
        <title>F+G GLOBAL FUNDING SECURED 144A 07/25 5.15</title>
        <cusip>30321L2E1</cusip>
        <identifiers>
          <isin value="US30321L2E12"/>
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        <balance>2400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2400076.510000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15</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>NAVIENT PRIVATE EDUCATION REFI LOAN TRUST 2020-HA</name>
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        <title>NAVIENT STUDENT LOAN TRUST NAVSL 2020 HA A 144A</title>
        <cusip>63935BAA1</cusip>
        <identifiers>
          <isin value="US63935BAA17"/>
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        <balance>5593976.250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5259823.440000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.31</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WOODSIDE FINANCE LIMITED</name>
        <lei>254900AIZKU6TGRRNZ98</lei>
        <title>WOODSIDE FINANCE LTD COMPANY GUAR REGS 09/26 3.7</title>
        <cusip>Q98236AC8</cusip>
        <identifiers>
          <isin value="USQ98236AC80"/>
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        <balance>5000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4949613.550000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.7</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYUNDAI CAPITAL AMERICA SR UNSECURED REGS 11/25 VAR</title>
        <cusip>44891CCS0</cusip>
        <identifiers>
          <isin value="US44891CCS08"/>
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        <balance>1150000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1153498.480000</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>2025-11-03</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GM FINANCIAL AUTOMOBILE LEASING TRUST 2024-1</name>
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        <title>GM FINANCIAL AUTOMOBILE LEASIN GMALT 2024 1 A2A</title>
        <cusip>36269FAB2</cusip>
        <identifiers>
          <isin value="US36269FAB22"/>
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        <balance>2489864.570000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2491243.210000</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>2026-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.18</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>NORDEA BANK ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>NORDEA BANK ABP NORDEA BANK ABP</title>
        <cusip>65558RAF6</cusip>
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          <isin value="US65558RAF64"/>
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        <balance>10600000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10655970.330000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-19</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC SR UNSECURED 12/26 VAR</title>
        <cusip>38141GXM1</cusip>
        <identifiers>
          <isin value="US38141GXM13"/>
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        <balance>3000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2953668.240000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>1.093</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>PACIFIC GAS AND ELECTRIC CO</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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          <isin value="US694308JP35"/>
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        <balance>30102000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29817928.330000</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>3.15</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ERAC USA FINANCE LLC</name>
        <lei>LTKX5ODQW6Z7BQ2K1V47</lei>
        <title>ERAC USA FINANCE LLC COMPANY GUAR 144A 11/25 3.8</title>
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          <isin value="US26884TAP75"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>798006.780000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA GAS COMPANY</name>
        <lei>XY0N0J73VHV5F4CUJV89</lei>
        <title>SOUTHERN CALIF GAS CO 1ST MORTGAGE 06/26 2.6</title>
        <cusip>842434CQ3</cusip>
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          <isin value="US842434CQ33"/>
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        <balance>1195000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1174288.920000</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>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON AUTO TRUST 2024-1A</name>
        <lei>N/A</lei>
        <title>HUNTINGTON AUTO TRUST HUNT 2024 1A A2 144A</title>
        <cusip>446144AC1</cusip>
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          <isin value="US446144AC16"/>
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        <balance>2112941.790000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2115555.920000</valUSD>
        <pctVal>0.0388695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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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>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <cusip>404280BX6</cusip>
        <identifiers>
          <isin value="US404280BX62"/>
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        <balance>3550000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3546610.210000</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>2026-09-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.292</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2017-H15</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H15 FE</title>
        <cusip>38376R6F8</cusip>
        <identifiers>
          <isin value="US38376R6F85"/>
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        <balance>3026327.940000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3071895.970000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OVERSEA-CHINESE BANKING CORP/SYDNEY BRANCH</name>
        <lei>5493007O3QFXCPOGWK22</lei>
        <title>OCBC/SYDNEY SR UNSECURED 05/26 VAR</title>
        <cusip>ACI2G08Q8</cusip>
        <identifiers>
          <isin value="AU3FN0078101"/>
        </identifiers>
        <balance>19000000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</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>MERCEDES-BENZ AUTO LEASE TRUST 2024-B</name>
        <lei>N/A</lei>
        <title>MERCEDES BENZ AUTO LEASE TRUST MBALT 2024 B A2A</title>
        <cusip>58769GAB9</cusip>
        <identifiers>
          <isin value="US58769GAB95"/>
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        <balance>1746062.910000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1746494.890000</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>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.57</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>MOUNTAIN VIEW CLO XIV LTD 2019-1A</name>
        <lei>N/A</lei>
        <title>MOUNTAIN VIEW CLO MVEW 2019 1A A1R 144A</title>
        <cusip>62432MAN9</cusip>
        <identifiers>
          <isin value="US62432MAN92"/>
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        <balance>19150000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19132845.810000</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>2034-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.4151</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>VENTURE CLO LTD 2018-33A</name>
        <lei>N/A</lei>
        <title>VENTURE CDO LTD VENTR 2018 33A A1LR 144A</title>
        <cusip>92330YAN3</cusip>
        <identifiers>
          <isin value="US92330YAN31"/>
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        <balance>3297992.070000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3300085.400000</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>2031-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.57771</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>BMW US CAPITAL LLC</name>
        <lei>KK5MZM9DIXLXZL9DZL15</lei>
        <title>BMW US CAPITAL LLC COMPANY GUAR 144A 03/28 VAR</title>
        <cusip>05565ECX1</cusip>
        <identifiers>
          <isin value="US05565ECX13"/>
        </identifiers>
        <balance>8300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8280053.110000</valUSD>
        <pctVal>0.152131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.26885</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>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC SR UNSECURED 09/26 VAR</title>
        <cusip>404280BW8</cusip>
        <identifiers>
          <isin value="US404280BW89"/>
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        <balance>5990000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6006684.010000</valUSD>
        <pctVal>0.110362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.96573</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-RPL1</name>
        <lei>N/A</lei>
        <title>NEW RESIDENTIAL MORTGAGE LOAN NRZT 2018 RPL1 A1 144A</title>
        <cusip>64829VAA4</cusip>
        <identifiers>
          <isin value="US64829VAA44"/>
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        <balance>2107407.240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2043886.820000</valUSD>
        <pctVal>0.0375527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC STRIPS 413</name>
        <lei>N/A</lei>
        <title>FREDDIEMAC STRIP FHS 413 F25</title>
        <cusip>3133Q3LH2</cusip>
        <identifiers>
          <isin value="US3133Q3LH28"/>
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        <balance>23903923.180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23925675.750000</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>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.45517</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO JPM CHASE</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="913ZLQ009"/>
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        <balance>-3954375.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-3954874.790000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="8I5DZWZKVSZI1NUHU748" name="JPMORGAN CHASE &amp; CO."/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>TAURUS 2021-1 UK DAC 21-UK1A</name>
        <lei>N/A</lei>
        <title>TAURUS CMBS TAURS 2021 UK1A A 144A</title>
        <cusip>ACI1W1MF8</cusip>
        <identifiers>
          <isin value="XS2303818954"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>FREDDIE MAC REMICS 5496</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5496 AF</title>
        <cusip>3137HHZL8</cusip>
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          <isin value="US3137HHZL81"/>
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        <curCd>USD</curCd>
        <valUSD>21643239.090000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>FREDDIE MAC REMICS 4190</name>
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        <title>FREDDIE MAC FHR 4190 FA</title>
        <cusip>3137B1CE0</cusip>
        <identifiers>
          <isin value="US3137B1CE01"/>
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        <balance>3494976.270000</balance>
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        <curCd>USD</curCd>
        <valUSD>3406346.470000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>COOPERATIEVE RABOBANK UA/NEW YORK BRANCH</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>COOPERATIEVE RABOBANK UA COOPERATIEVE RABOBANK UA</title>
        <cusip>21688ABB7</cusip>
        <identifiers>
          <isin value="US21688ABB70"/>
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        <balance>41500000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FEDERATION DES CAISSES DESJARDINS DU QUEBEC</name>
        <lei>549300B2Q47IR0CR5B54</lei>
        <title>FED CAISSES DESJARDINS SR UNSECURED 144A 01/27 VAR</title>
        <cusip>31429KAN3</cusip>
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          <isin value="US31429KAN37"/>
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        <balance>25000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25022325.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.96206</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2023-H11</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2023 H11 FC</title>
        <cusip>38382Y5C3</cusip>
        <identifiers>
          <isin value="US38382Y5C34"/>
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        <balance>3207581.060000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.40185</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ FINANCE NORTH AMERICA LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>MERCEDES BENZ FIN NA COMPANY GUAR 144A 07/26 VAR</title>
        <cusip>58769JAV9</cusip>
        <identifiers>
          <isin value="US58769JAV98"/>
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        <balance>17575000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17583582.220000</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>2026-07-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.95321</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA SR UNSECURED 144A 01/27 VAR</title>
        <cusip>05583JAN2</cusip>
        <identifiers>
          <isin value="US05583JAN28"/>
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        <balance>1400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1409669.860000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.975</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VENTAS REALTY LP</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VENTAS REALTY LP COMPANY GUAR 01/26 4.125</title>
        <cusip>92277GAG2</cusip>
        <identifiers>
          <isin value="US92277GAG29"/>
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        <balance>1600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1593864.660000</valUSD>
        <pctVal>0.0292843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHN DEERE CAPITAL CORPORATION</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>JOHN DEERE CAPITAL CORP SR UNSECURED 10/25 VAR</title>
        <cusip>24422EXJ3</cusip>
        <identifiers>
          <isin value="US24422EXJ36"/>
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        <balance>600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600492.500000</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>2025-10-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.8074</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>FNMA PASS THRU POOLS</name>
        <lei>N/A</lei>
        <title>FNMA POOL FS8865 FN 02/35 FIXED VAR</title>
        <cusip>3140XQZ75</cusip>
        <identifiers>
          <isin value="US3140XQZ753"/>
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        <balance>9955005.610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9607421.510000</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>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</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>SKANDINAVISKA ENSKILDA BANKEN AB</name>
        <lei>F3JS33DEI6XQ4ZBPTN86</lei>
        <title>SKANDINAVISKA ENSKILDA SR UNSECURED 144A 03/27 VAR</title>
        <cusip>830505BA0</cusip>
        <identifiers>
          <isin value="US830505BA07"/>
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        <balance>18866000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18993927.330000</valUSD>
        <pctVal>0.348979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.21427</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>FANNIE MAE REMICS 2014-61</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2014 61 FA</title>
        <cusip>3136ALFX4</cusip>
        <identifiers>
          <isin value="US3136ALFX42"/>
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        <balance>17047625.530000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16876574.770000</valUSD>
        <pctVal>0.310076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81449</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>STARWOOD MORTGAGE RESIDENTIAL TRUST 2020-3</name>
        <lei>N/A</lei>
        <title>STARWOOD MORTGAGE RESIDENTIAL STAR 2020 3 A1 144A</title>
        <cusip>85573MAA7</cusip>
        <identifiers>
          <isin value="US85573MAA71"/>
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        <balance>595362.120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>574891.900000</valUSD>
        <pctVal>0.0105626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.486</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>KT CORPORATION</name>
        <lei>9884005ACF8449EANY26</lei>
        <title>KT CORP SR UNSECURED 144A 08/25 4</title>
        <cusip>48268KAG6</cusip>
        <identifiers>
          <isin value="US48268KAG67"/>
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        <balance>7100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7094821.760000</valUSD>
        <pctVal>0.130354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AVON FINANCE 4A</name>
        <lei>N/A</lei>
        <title>AVON FINANCE AVON 4A A 144A</title>
        <cusip>ACI2JTXR2</cusip>
        <identifiers>
          <isin value="XS2683120211"/>
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        <balance>17589385.220000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
        <valUSD>24184304.920000</valUSD>
        <pctVal>0.444342</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.11859</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PNC BANK NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
        <title>PNC BANK NA SR UNSECURED 01/27 VAR</title>
        <cusip>69353RFW3</cusip>
        <identifiers>
          <isin value="US69353RFW34"/>
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        <balance>24600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24611867.290000</valUSD>
        <pctVal>0.452198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.8366</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>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 03/26 5.4</title>
        <cusip>928668CE0</cusip>
        <identifiers>
          <isin value="US928668CE07"/>
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        <balance>6234000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6264074.810000</valUSD>
        <pctVal>0.115091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.4</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMMC CLO 24 LTD</name>
        <lei>N/A</lei>
        <title>AMERICAN MONEY MANAGEMENT CORP AMMC 2021 24A AR 144A</title>
        <cusip>00177LAJ9</cusip>
        <identifiers>
          <isin value="US00177LAJ98"/>
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        <balance>6400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6402335.420000</valUSD>
        <pctVal>0.117631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.46947</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>MERCEDES-BENZ FINANCE NORTH AMERICA LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>MERCEDES BENZ FIN NA MERCEDES BENZ FIN NA</title>
        <cusip>58769JAN7</cusip>
        <identifiers>
          <isin value="US58769JAN72"/>
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        <balance>34710000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34752573.550000</valUSD>
        <pctVal>0.638515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00773</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI BANKING CORP/SYDNEY BRANCH</name>
        <lei>5U0XI89JRFVHWIBS4F54</lei>
        <title>SUMITOMO MITSUI SYD CERT OF DEPO 07/26 VAR</title>
        <cusip>ACI2MP258</cusip>
        <identifiers>
          <isin value="AU3FN0070181"/>
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        <balance>5000000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
        <valUSD>3312831.950000</valUSD>
        <pctVal>0.0608672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.9462</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>PACIFIC GAS AND ELECTRIC CO</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS + ELECTRIC 1ST MORTGAGE 09/25 VAR</title>
        <cusip>694308KS5</cusip>
        <identifiers>
          <isin value="US694308KS54"/>
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        <balance>39152000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39152891.490000</valUSD>
        <pctVal>0.719363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.27563</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>CITIGROUP MORTGAGE LOAN TRUST 2025-3</name>
        <lei>N/A</lei>
        <title>CITIGROUP MORTGAGE LOAN TRUST CMLTI 2025 3 A29 144A</title>
        <cusip>17332RCX9</cusip>
        <identifiers>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
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        <name>ONEOK INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD CREDIT AUTO OWNER TRUST 2024-B</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <name>BANK OF MONTREAL</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2018-11</name>
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        <title>FANNIE MAE FNR 2018 11 WF</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GA GLOBAL FUNDING TRUST</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYUNDAI CAPITAL AMERICA HYUNDAI CAPITAL AMERICA</title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)</name>
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        <name>IMPERIAL BRANDS FINANCE PLC (AKA: IMPERIAL TOBACCO FINANCE PLC)</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CARVAL CLO LTD 2018-1A</name>
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        <title>CARVAL CLO LTD CARVL 2018 1A AR 144A</title>
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          <isin value="US146865AJ95"/>
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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>
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          <isDefault>N</isDefault>
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        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP PARIBAS 144A 01/27 VAR</title>
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        <name>FORD MOTOR CREDIT COMPANY LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>FANNIE MAE REMICS 2012-138</name>
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        <title>FANNIE MAE FNR 2012 138 AE</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMMONWEALTH BANK OF AUSTRALIA</name>
        <lei>MSFSBD3QN1GSN7Q6C537</lei>
        <title>COMMONWEALTH BANK AUST SR UNSECURED 144A 07/25 VAR</title>
        <cusip>2027A0KG3</cusip>
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          <isin value="US2027A0KG30"/>
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        <balance>200000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200010.910000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-07</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC SR UNSECURED 03/28 VAR</title>
        <cusip>38141GZS6</cusip>
        <identifiers>
          <isin value="US38141GZS64"/>
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        <balance>3305000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3369042.640000</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>2028-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.18419</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTESA SANPAOLO SPA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>INTESA SANPAOLO SPA 144A 11/25 7</title>
        <cusip>46115HBU0</cusip>
        <identifiers>
          <isin value="US46115HBU05"/>
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        <balance>2000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2015930.300000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7</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>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CITIBANK NA CITIBANK NA</title>
        <cusip>17325FBE7</cusip>
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          <isin value="US17325FBE79"/>
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        <balance>400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400569.750000</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>2026-04-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.92096</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>TORONTO-DOMINION BANK</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO DOMINION BANK SR UNSECURED REGS 03/26 VAR</title>
        <cusip>ACI1WDJD1</cusip>
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          <isin value="AU3FN0059218"/>
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        <balance>2500000.000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.3619</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>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYUNDAI CAPITAL AMERICA HYUNDAI CAPITAL AMERICA</title>
        <cusip>44891ACW5</cusip>
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          <isin value="US44891ACW53"/>
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        <balance>10400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10464595.750000</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>2027-01-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.84926</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATION TRUST</name>
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        <title>AERCAP IRELAND CAP/GLOBA COMPANY GUAR 01/26 1.75</title>
        <cusip>00774MAS4</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>GA GLOBAL FUNDING TRUST</name>
        <lei>54930029I8ROQ4OROZ88</lei>
        <title>GA GLOBAL FUNDING TRUST SECURED 144A 09/27 4.4</title>
        <cusip>36143L2N4</cusip>
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          <isin value="US36143L2N47"/>
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        <balance>17800000.000000</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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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>BPCE SA</name>
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        <title>BPCE SA REGS 09/25 VAR</title>
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          <isin value="AU3FN0072013"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT EUR SOLD USD 20250702</title>
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        <name>AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATION TRUST</name>
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        <title>AERCAP IRELAND CAP/GLOBA COMPANY GUAR 10/25 4.45</title>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2016-88</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2016 88 AF</title>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT CAD SOLD USD 20250702</title>
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      <invstOrSec>
        <name>INTERNATIONAL FLAVORS &amp; FRAGRANCES INC</name>
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      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2019-48</name>
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        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2019 48 HF</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ATHENE GLOBAL FUNDING</name>
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      <invstOrSec>
        <name>JP MORGAN CHASE &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ROYAL BANK OF CANADA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SYDNEY AIRPORT FINANCE COMPANY PTY LIMITED</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2024-13</name>
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        <name>HARVEST CLO XXI DAC 21A</name>
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        <name>FANNIE MAE REMICS 2024-95</name>
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        <title>FANNIE MAE FNR 2024 95 KF</title>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <debtSec>
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        <name>UNITED OVERSEAS BANK LIMITED</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
        <title>UNITED OVERSEAS BANK LTD SR UNSECURED 144A 04/28 VAR</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HARLEY-DAVIDSON MOTORCYCLE TRUST 2025-A</name>
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        <name>TOWD POINT MORTGAGE TRUST 2020-1</name>
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        <name>CANADIAN NATURAL RESOURCES LIMITED</name>
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        <name>GENERAL MOTORS COMPANY</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <valUSD>-832789.960000</valUSD>
        <pctVal>-0.015301</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BNP PARIBAS</counterpartyName>
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            <amtCurSold>35581860.000000</amtCurSold>
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            <unrealizedAppr>-832789.960000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD JPY BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ESKBBP9QC"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="144.210000"/>
        <valUSD>36.550000</valUSD>
        <pctVal>0.0000007</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
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            <amtCurSold>1264786.000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>8807.000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>36.550000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE REMICS 2014-92</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2014 92 FB</title>
        <cusip>3136AMED7</cusip>
        <identifiers>
          <isin value="US3136AMED79"/>
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        <balance>1853200.400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1809747.670000</valUSD>
        <pctVal>0.0332508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.78449</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST 2022-4</name>
        <lei>N/A</lei>
        <title>GM FINANCIAL CONSUMER AUTOMOBI GMCAR 2022 4 A4</title>
        <cusip>36265QAE6</cusip>
        <identifiers>
          <isin value="US36265QAE61"/>
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        <balance>3000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3017826.000000</valUSD>
        <pctVal>0.055447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88</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>FANNIE MAE REMICS 2019-41</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2019 41 FC</title>
        <cusip>3136B5SR7</cusip>
        <identifiers>
          <isin value="US3136B5SR71"/>
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        <balance>1046833.710000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1014042.170000</valUSD>
        <pctVal>0.0186312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86965</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 GLOBAL FUNDING</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>ATHENE GLOBAL FU SR SECURED REGS 06/26 1.608</title>
        <cusip>04686E3C4</cusip>
        <identifiers>
          <isin value="US04686E3C40"/>
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        <balance>901000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>876558.560000</valUSD>
        <pctVal>0.0161052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.608</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>VERUS SECURITIZATION TRUST 2021-R1</name>
        <lei>N/A</lei>
        <title>VERUS SECURITIZATION TRUST VERUS 2021 R1 A3 144A</title>
        <cusip>92538BAC7</cusip>
        <identifiers>
          <isin value="US92538BAC72"/>
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        <balance>115871.740000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112246.740000</valUSD>
        <pctVal>0.0020623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.262</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>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC SR UNSECURED 01/26 4.375</title>
        <cusip>06738EAN5</cusip>
        <identifiers>
          <isin value="US06738EAN58"/>
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        <balance>26055000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26038577.790000</valUSD>
        <pctVal>0.478411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375</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>OBX 2024-NQM5 TRUST</name>
        <lei>N/A</lei>
        <title>ONSLOW BAY FINANCIAL LLC OBX 2024 NQM5 A1 144A</title>
        <cusip>67448NAA6</cusip>
        <identifiers>
          <isin value="US67448NAA63"/>
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        <balance>4585353.790000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4618977.270000</valUSD>
        <pctVal>0.0848653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.988</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>DR HORTON INC</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>D.R. HORTON INC COMPANY GUAR 10/26 1.3</title>
        <cusip>23331ABQ1</cusip>
        <identifiers>
          <isin value="US23331ABQ13"/>
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        <balance>6000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5770488.960000</valUSD>
        <pctVal>0.106022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.3</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>JACKSON NATIONAL LIFE GLOBAL FUNDING</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>JACKSON NATL LIFE GLOBAL SECURED 144A 01/26 5.5</title>
        <cusip>46849LUX7</cusip>
        <identifiers>
          <isin value="US46849LUX71"/>
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        <balance>8400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8436981.920000</valUSD>
        <pctVal>0.155014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>QATARENERGY</name>
        <lei>254900QTESJKJ3P87J26</lei>
        <title>QATAR ENERGY SR UNSECURED 144A 09/26 1.375</title>
        <cusip>74730DAB9</cusip>
        <identifiers>
          <isin value="US74730DAB91"/>
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        <balance>3900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3761994.600000</valUSD>
        <pctVal>0.0691198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>QA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375</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>PUBLIC STORAGE OPERATING COMPANY</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>PUBLIC STORAGE OP CO COMPANY GUAR 07/25 VAR</title>
        <cusip>74460WAJ6</cusip>
        <identifiers>
          <isin value="US74460WAJ62"/>
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        <balance>4400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4401236.660000</valUSD>
        <pctVal>0.0808647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.93206</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>SUMITOMO MITSUI TRUST BANK LIMITED</name>
        <lei>5493006GGLR4BTEL8O61</lei>
        <title>SUMITOMO MITSUI TR BK LT SR UNSECURED REGS 09/26 VAR</title>
        <cusip>J7771YSN8</cusip>
        <identifiers>
          <isin value="USJ7771YSN87"/>
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        <balance>9350000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9424130.820000</valUSD>
        <pctVal>0.173151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.45306</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>FANNIE MAE REMICS 2020-66</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2020 66 BC</title>
        <cusip>3136BBM58</cusip>
        <identifiers>
          <isin value="US3136BBM583"/>
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        <balance>4150333.510000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3812017.830000</valUSD>
        <pctVal>0.0700389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25</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>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA SR UNSECURED REGS 01/27 VAR</title>
        <cusip>05584KAN8</cusip>
        <identifiers>
          <isin value="US05584KAN81"/>
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        <balance>1050000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1057252.390000</valUSD>
        <pctVal>0.0194251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.975</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>SOLD CAD BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FPKBB54HW"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.362300"/>
        <valUSD>-1482.830000</valUSD>
        <pctVal>-0.0000272</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STANDARD CHARTERED BANK</counterpartyName>
              <counterpartyLei>RILFO74KP1CM8P6PCT96</counterpartyLei>
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            <amtCurSold>311273.590000</amtCurSold>
            <curSold>CAD</curSold>
            <amtCurPur>227000.000000</amtCurPur>
            <curPur>USD</curPur>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT DKK SOLD USD 20250702</title>
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          <other otherDesc="Internal ID" value="25ESKBBQDNJ"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.335700"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>BANCO SANTANDER S.A.</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>JP MORGAN CHASE &amp; CO</name>
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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>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ONEOK INC</name>
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        <title>ONEOK INC COMPANY GUAR 09/25 2.2</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
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        <title>HSBC HOLDINGS PLC SR UNSECURED 08/27 VAR</title>
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          <isin value="US404280DZ92"/>
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        <balance>4159000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-14</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE REMICS 2024-90</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2024 90 FB</title>
        <cusip>3136BTXD0</cusip>
        <identifiers>
          <isin value="US3136BTXD03"/>
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        <balance>18219436.640000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18292970.290000</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>2053-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.55517</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>FANNIE MAE REMICS 2019-79</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2019 79 FA</title>
        <cusip>3136B72K6</cusip>
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          <isin value="US3136B72K66"/>
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        <balance>296574.820000</balance>
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        <curCd>USD</curCd>
        <valUSD>288559.080000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.91965</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC REMICS 4141</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4141 PA</title>
        <cusip>3137AX2H5</cusip>
        <identifiers>
          <isin value="US3137AX2H53"/>
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        <balance>2996900.480000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.5</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>FREDDIE MAC REMICS 4557</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4557 LB</title>
        <cusip>3137BNBG8</cusip>
        <identifiers>
          <isin value="US3137BNBG84"/>
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        <balance>287208.990000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285487.660000</valUSD>
        <pctVal>0.0052453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75</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>FHLMC PASS THRU POOLS</name>
        <lei>N/A</lei>
        <title>FED HM LN PC POOL SB1240 FR 12/32 FIXED 2.5</title>
        <cusip>3132CXLV2</cusip>
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          <isin value="US3132CXLV28"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12496484.470000</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>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5</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>BOUGHT JPY SOLD USD 20250702</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBV930"/>
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        <balance>1.000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="144.210000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOYOTA LEASE OWNER TRUST 2024-B</name>
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        <title>TOYOTA LEASE OWNER TRUST TLOT 2024 B A3 144A</title>
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          <isin value="US891943AD49"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US 5YR NOTE (CBT) SEP25 XCBT 20250930</title>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>20565399.870000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2015-64</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2015 64 FK</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>AMERICAN TOWER CORP (AKA: AMERICAN TOWER REIT INC)</name>
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          <isin value="US03027XBL38"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>GREAT-WEST LIFECO US FINANCE 2020 LP</name>
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          <isin value="US391399AA00"/>
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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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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANTANDER UK GROUP HOLDINGS PLC</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>SANTANDER UK GROUP HLDGS SR UNSECURED 08/26 VAR</title>
        <cusip>80281LAM7</cusip>
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          <isin value="US80281LAM72"/>
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        <balance>38971000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38792349.920000</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>2026-08-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.532</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>FANNIE MAE REMICS 2013-40</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2013 40 ND</title>
        <cusip>3136ADG86</cusip>
        <identifiers>
          <isin value="US3136ADG864"/>
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        <balance>2104988.050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2055931.300000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.5</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD EUR BOUGHT USD 20250804</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBVWD5"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.847400"/>
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        <pctVal>-0.0182504</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED</counterpartyName>
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            <amtCurSold>148861000.000000</amtCurSold>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN ELECTRIC POWER COMPANY INC</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>AMERICAN ELECTRIC POWER SR UNSECURED 11/25 1</title>
        <cusip>025537AR2</cusip>
        <identifiers>
          <isin value="US025537AR24"/>
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        <balance>6233000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6156707.150000</valUSD>
        <pctVal>0.113118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</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>MIZUHO FINANCIAL GROUP INC</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>MIZUHO FINANCIAL GROUP SR UNSECURED 05/31 VAR</title>
        <cusip>60687YDK2</cusip>
        <identifiers>
          <isin value="US60687YDK29"/>
        </identifiers>
        <balance>7500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7504180.350000</valUSD>
        <pctVal>0.137876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.39017</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>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC SR UNSECURED 08/26 5.304</title>
        <cusip>06738EBZ7</cusip>
        <identifiers>
          <isin value="US06738EBZ79"/>
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        <balance>3500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3501057.320000</valUSD>
        <pctVal>0.0643255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.304</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>ALBACORE EURO CLO IV DAC 4A</name>
        <lei>N/A</lei>
        <title>ALBACORE EURO CLO ALBAC 4A AR 144A</title>
        <cusip>ACI2Q3N92</cusip>
        <identifiers>
          <isin value="XS2861758642"/>
        </identifiers>
        <balance>1500000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>1769301.960000</valUSD>
        <pctVal>0.0325077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.269</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>DANSKE BANK A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>DANSKE BANK A/S SR UNSECURED 144A 09/26 VAR</title>
        <cusip>23636AAZ4</cusip>
        <identifiers>
          <isin value="US23636AAZ49"/>
        </identifiers>
        <balance>7500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7454168.850000</valUSD>
        <pctVal>0.136957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.621</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>N/A</name>
        <lei>N/A</lei>
        <title>SOLD JPY BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ERKBCK8ZL"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="144.210000"/>
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        <pctVal>0.0000124</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>WELLS FARGO &amp; COMPANY</counterpartyName>
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            <amtCurSold>19808497.000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>138031.000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAT INTERNATIONAL FINANCE PLC</name>
        <lei>21380041YBGOQDFAC823</lei>
        <title>BAT INTL FINANCE PLC COMPANY GUAR 03/26 1.668</title>
        <cusip>05530QAN0</cusip>
        <identifiers>
          <isin value="US05530QAN07"/>
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        <balance>4674000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4577841.840000</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>2026-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.668</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>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 09/25 VAR</title>
        <cusip>928668BY7</cusip>
        <identifiers>
          <isin value="US928668BY79"/>
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        <balance>5965000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5969570.680000</valUSD>
        <pctVal>0.10968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.26022</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>TOYOTA FINANCE AUSTRALIA LIMITED</name>
        <lei>3UKPTDP5PGQRH8AUK042</lei>
        <title>TOYOTA FINANCE AUSTRALIA SR UNSECURED 04/26 VAR</title>
        <cusip>ACI2F1WP2</cusip>
        <identifiers>
          <isin value="AU3FN0077038"/>
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        <balance>2050000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
        <valUSD>1352392.050000</valUSD>
        <pctVal>0.0248477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.0211</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA SR UNSECURED 10/28 VAR</title>
        <cusip>78017FZU0</cusip>
        <identifiers>
          <isin value="US78017FZU01"/>
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        <balance>2292000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2295548.310000</valUSD>
        <pctVal>0.0421765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.19398</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>FREDDIE MAC REMICS 4680</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4680 FP</title>
        <cusip>3137BY6F2</cusip>
        <identifiers>
          <isin value="US3137BY6F24"/>
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        <balance>3167278.570000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3093950.370000</valUSD>
        <pctVal>0.0568457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81833</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>REGATTA XVI FUNDING LTD 2019-2A</name>
        <lei>N/A</lei>
        <title>REGATTA XVI FUNDING LTD. REG16 2019 2A A1R 144A</title>
        <cusip>75888TAL9</cusip>
        <identifiers>
          <isin value="US75888TAL98"/>
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        <balance>1265648.890000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1265989.000000</valUSD>
        <pctVal>0.0232602</pctVal>
        <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>5.4561</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>PLAINS ALL AMERICAN PIPELINE LP / PAA FINANCE CORP</name>
        <lei>N/A</lei>
        <title>PLAINS ALL AMER PIPELINE SR UNSECURED 10/25 4.65</title>
        <cusip>72650RBJ0</cusip>
        <identifiers>
          <isin value="US72650RBJ05"/>
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        <balance>1060000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1059815.150000</valUSD>
        <pctVal>0.0194722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65</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>FANNIE MAE REMICS 2014-42</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2014 42 FA</title>
        <cusip>3136AKPQ0</cusip>
        <identifiers>
          <isin value="US3136AKPQ08"/>
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        <balance>965983.800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>948741.960000</valUSD>
        <pctVal>0.0174314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86449</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>FREDDIE MAC REMICS 4903</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4903 FB</title>
        <cusip>3137FN4N7</cusip>
        <identifiers>
          <isin value="US3137FN4N79"/>
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        <balance>709705.440000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>687890.510000</valUSD>
        <pctVal>0.0126387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
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        <name>FANNIE MAE REMICS 2017-95</name>
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        <name>N/A</name>
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        <name>BLACKROCK EUROPEAN CLO VII DAC 7A</name>
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        <name>COOPERATIEVE RABOBANK UA/NEW YORK BRANCH</name>
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        <name>N/A</name>
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        <name>SA GLOBAL SUKUK LIMITED</name>
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        <name>MF1 2020-FL4 LTD</name>
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        <name>HARVEST CLO XXI DAC 21A</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RFR USD SOFR/4.10000 02/11/25-1Y LCH</title>
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          <isin value="EZR57YL70MG8"/>
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        <curCd>USD</curCd>
        <valUSD>1182778.750000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="United States SOFR Secured Overnight Financing Rate" floatingRtSpread="0.000000" pmntAmt="0.000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="1" resetDt="Day" resetDtUnit="1"/>
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            <fixedPmntDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="4.100000"/>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>912700000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>50452.250000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC-3121</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 3121 FM</title>
        <cusip>31396JFX8</cusip>
        <identifiers>
          <isin value="US31396JFX81"/>
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        <balance>177070.770000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176013.760000</valUSD>
        <pctVal>0.0032339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81833</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>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYUNDAI CAPITAL AMERICA SR UNSECURED REGS 11/26 3.5</title>
        <cusip>44891CBD4</cusip>
        <identifiers>
          <isin value="US44891CBD48"/>
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        <balance>2286000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2255204.680000</valUSD>
        <pctVal>0.0414353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</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>SUMITOMO MITSUI TRUST BANK LIMITED</name>
        <lei>5493006GGLR4BTEL8O61</lei>
        <title>SUMITOMO MITSUI TR BK LT SR UNSECURED 144A 09/26 VAR</title>
        <cusip>86563VBL2</cusip>
        <identifiers>
          <isin value="US86563VBL27"/>
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        <balance>6300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6349949.110000</valUSD>
        <pctVal>0.116669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.45306</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC LIFE GLOBAL FUNDING II</name>
        <lei>6354003EUPCHXTWUU869</lei>
        <title>PACIFIC LIFE GF II SR SECURED 144A 06/26 VAR</title>
        <cusip>6944PL2G3</cusip>
        <identifiers>
          <isin value="US6944PL2G38"/>
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        <balance>1600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1605627.650000</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>2026-06-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.94563</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>FREDDIE MAC REMICS 5115</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5115 DA</title>
        <cusip>3137H0VQ8</cusip>
        <identifiers>
          <isin value="US3137H0VQ85"/>
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        <balance>2351682.850000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2072210.510000</valUSD>
        <pctVal>0.0380731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</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>FANNIE MAE REMICS 2025-12</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2025 12 FG</title>
        <cusip>3136BVFH6</cusip>
        <identifiers>
          <isin value="US3136BVFH64"/>
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        <balance>2663206.870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2665847.170000</valUSD>
        <pctVal>0.0489801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25517</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>ATHENE GLOBAL FUNDING</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>ATHENE GLOBAL FUNDING SECURED REGS 08/26 VAR</title>
        <cusip>04686E4J8</cusip>
        <identifiers>
          <isin value="US04686E4J83"/>
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        <balance>2900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2912007.020000</valUSD>
        <pctVal>0.0535028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.35398</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>ZOETIS INC</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>ZOETIS INC SR UNSECURED 11/25 5.4</title>
        <cusip>98978VAU7</cusip>
        <identifiers>
          <isin value="US98978VAU70"/>
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        <balance>2272000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2276994.170000</valUSD>
        <pctVal>0.0418356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.4</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>DEUTSCHE BANK AG/NEW YORK BRANCH</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>DEUTSCHE BANK NY 07/26 VAR</title>
        <cusip>25160PAJ6</cusip>
        <identifiers>
          <isin value="US25160PAJ66"/>
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        <balance>43553000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43571692.950000</valUSD>
        <pctVal>0.80055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.119</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>CITIGROUP GLOBAL MARKETS HOLDINGS INC</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>CITIGROUP GLOBAL MARKETS COMPANY GUAR 01/26 VAR</title>
        <cusip>17291LZM0</cusip>
        <identifiers>
          <isin value="US17291LZM08"/>
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        <balance>19000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18983330.350000</valUSD>
        <pctVal>0.348784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.88</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>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA SR UNSECURED 07/27 VAR</title>
        <cusip>78016HZY9</cusip>
        <identifiers>
          <isin value="US78016HZY97"/>
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        <balance>8000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8027127.440000</valUSD>
        <pctVal>0.147484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.12246</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>BOUGHT ILS SOLD USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FOKBBSH9B"/>
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        <units>NC</units>
        <currencyConditional curCd="ILS" exchangeRt="3.373500"/>
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        <pctVal>0.0001118</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4707</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4707 FD</title>
        <cusip>3137F2N36</cusip>
        <identifiers>
          <isin value="US3137F2N367"/>
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        <balance>5784228.670000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5697371.540000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81449</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOEING CO/THE</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO SR UNSECURED 10/25 2.6</title>
        <cusip>097023BP9</cusip>
        <identifiers>
          <isin value="US097023BP90"/>
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        <balance>10404000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10315914.430000</valUSD>
        <pctVal>0.189536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.6</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>SOLD GBP BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ERKBC20VJ"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728900"/>
        <valUSD>-840588.910000</valUSD>
        <pctVal>-0.0154443</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <name>NORTHWOODS CAPITAL XII-B LTD 2018-12BA</name>
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        <valUSD>1504093.300000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Floating</couponKind>
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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>SOLD CAD BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FKKBB7J6N"/>
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        <balance>1.000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.362300"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>WELLS FARGO &amp; COMPANY</counterpartyName>
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            <amtCurSold>578000.000000</amtCurSold>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BAIN CAPITAL CREDIT CLO 2019-3A</name>
        <lei>N/A</lei>
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        <cusip>05683TBA6</cusip>
        <identifiers>
          <isin value="US05683TBA60"/>
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        <units>PA</units>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>ING GROEP NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
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          <isin value="US456837AX12"/>
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        <balance>8000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8022601.600000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ILLUMINA INC</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>ILLUMINA INC SR UNSECURED 12/25 5.8</title>
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          <isin value="US452327AN93"/>
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        <balance>13832000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13892514.590000</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>2025-12-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.8</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC SR UNSECURED 08/26 VAR</title>
        <cusip>38145GAM2</cusip>
        <identifiers>
          <isin value="US38145GAM24"/>
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        <balance>14541000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14561563.300000</valUSD>
        <pctVal>0.267542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.798</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>ECMC GROUP STUDENT LOAN TRUST 2018-1A</name>
        <lei>N/A</lei>
        <title>ECMC GROUP STUDENT LOAN TRUST ECMC 2018 1A A 144A</title>
        <cusip>26828HAA5</cusip>
        <identifiers>
          <isin value="US26828HAA59"/>
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        <balance>9481948.780000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9404905.100000</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>2068-02-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16965</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>SOLD JPY BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ETKBBZLMQ"/>
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        <balance>1.000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AVIATION CAPITAL GROUP LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>AVIATION CAPITAL GROUP SR UNSECURED 144A 08/25 4.125</title>
        <cusip>05369AAD3</cusip>
        <identifiers>
          <isin value="US05369AAD37"/>
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        <balance>7710000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7703265.240000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125</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>AVIATION CAPITAL GROUP LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>AVIATION CAPITAL GROUP SR UNSECURED 144A 10/25 4.875</title>
        <cusip>05367AAH6</cusip>
        <identifiers>
          <isin value="US05367AAH68"/>
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        <balance>3494000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3492469.030000</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>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875</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>M&amp;T BANK AUTO RECEIVABLES TRUST 2024-1A</name>
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        <title>M+T BANK AUTO RECEIVABLES TRUS MTBAT 2024 1A A3 144A</title>
        <cusip>55286TAC9</cusip>
        <identifiers>
          <isin value="US55286TAC99"/>
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        <balance>4940000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5001702.580000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.22</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>FANNIE MAE REMICS 2019-9</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2019 9 MA</title>
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        <identifiers>
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        <balance>3723900.890000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3568961.660000</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>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</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>SHINHAN BANK CO LTD</name>
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        <title>SHINHAN BANK SR UNSECURED REGS 11/25 VAR</title>
        <cusip>ACI2B1WV3</cusip>
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        <balance>23780000.000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOMURA HOLDINGS INC</name>
        <lei>549300B3CEAHYG7K8164</lei>
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        <balance>2000000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1942933.280000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.653</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NXP BV/NXP FUNDING LLC</name>
        <lei>N/A</lei>
        <title>NXP BV/NXP FUNDING LLC COMPANY GUAR 03/26 5.35</title>
        <cusip>62947QBB3</cusip>
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        <balance>11295000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11350242.490000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>UBER TECHNOLOGIES INC</name>
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        <title>UBER TECHNOLOGIES INC COMPANY GUAR 144A 01/28 6.25</title>
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          <isin value="US90353TAG58"/>
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        <balance>8279000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8323698.320000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</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>EDISON INTERNATIONAL</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>EDISON INTERNATIONAL SR UNSECURED 08/25 4.7</title>
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          <isin value="US281020AU14"/>
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        <balance>6850000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6839584.990000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>FANNIE MAE REMICS 2020-49</name>
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        <name>PENSKE TRUCK LEASING CO LP / PTL FINANCE CORP</name>
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        <name>DRYDEN 52 EURO CLO 2017 17-52A</name>
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        <name>FREDDIE MAC REMICS 4903</name>
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      <invstOrSec>
        <name>MORGAN STANLEY BANK NA</name>
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      <invstOrSec>
        <name>SMB PRIVATE EDUCATION LOAN TRUST 2020-B</name>
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      <invstOrSec>
        <name>CHASE AUTO OWNER TRUST 2024-4A</name>
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        <name>NOMURA HOLDINGS INC</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>NISSAN AUTO LEASE TRUST 2024-B</name>
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        <name>WORLD OMNI AUTO RECEIVABLES TRUST 2024-C</name>
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        <name>BLACK HILLS CORPORATION</name>
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        <name>THE BANK OF NOVA SCOTIA</name>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Floating</couponKind>
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        <name>LCM 35 LTD 35A</name>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <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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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>AUST 3YR BOND FUT SEP25 XSFE 20250915</title>
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        <name>LOANCORE ISSUER LTD 2021-CRE5</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IMPERIAL BRANDS FINANCE PLC (AKA: IMPERIAL TOBACCO FINANCE PLC)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES GOVT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOYOTA LEASE OWNER TRUST 2025-A</name>
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        <name>N/A</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2017-H09</name>
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        <name>METROPOLITAN LIFE GLOBAL FUNDING I</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>FREDDIE MAC REMICS 4263</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>M&amp;T BANK AUTO RECEIVABLES TRUST 2025-1A</name>
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          <couponKind>Floating</couponKind>
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        <name>COOPERATIEVE RABOBANK UA (AKA: RABOBANK NEDERLAND)</name>
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        <title>COOPERATIEVE RABOBANK UA SR UNSECURED 144A 12/27 VAR</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>EQUITABLE FINANCIAL LIFE GLOBAL FUNDING</name>
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        <title>EQUITABLE FINANCIAL LIFE SECURED 144A 11/27 4.875</title>
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        <name>BMW VEHICLE LEASE TRUST 2024-1</name>
        <lei>N/A</lei>
        <title>BMW VEHICLE LEASE TRUST BMWLT 2024 1 A2B</title>
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        <name>GM FINANCIAL REVOLVING RECEIVABLES TRUST 2024-1</name>
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        <title>GM FINANCIAL REVOLVING RECEIVA GMREV 2024 1 A 144A</title>
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        <name>IMPERIAL BRANDS FINANCE PLC (AKA: IMPERIAL TOBACCO FINANCE PLC)</name>
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        <name>MADISON PARK FUNDING XLVI LTD 2020-46A</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2017-H16</name>
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        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H16 KF</title>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 5511</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MADISON PARK FUNDING LII LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE REMICS 2019-53</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>NEXTERA ENERGY CAPITAL HOLDINGS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA/NEW YORK BRANCH</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2013-104</name>
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        <title>FANNIE MAE FNR 2013 104 MA</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>GREYWOLF CLO III LTD 2020-3RA</name>
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        <name>CROWN CASTLE INTERNATIONAL CORP (CCI)</name>
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        <name>N/A</name>
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        <name>ING GROEP NV</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>MFA 2021-RPL1 TRUST</name>
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        <name>SLM STUDENT LOAN TRUST 2012-3</name>
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        <title>SLM STUDENT LOAN TRUST SLMA 2012 3 A</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55</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>FREDDIE MAC REMICS 4585</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4585 AF</title>
        <cusip>3137BPF46</cusip>
        <identifiers>
          <isin value="US3137BPF460"/>
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        <balance>4089007.350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4044547.570000</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>2046-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81833</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>FREDDIE MAC MULTIFAMILY STRUCTURED PASS THROUGH CERTIFICATES K734</name>
        <lei>N/A</lei>
        <title>FHLMC MULTIFAMILY STRUCTURED P FHMS K734 A2</title>
        <cusip>3137FLN34</cusip>
        <identifiers>
          <isin value="US3137FLN340"/>
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        <balance>4492284.060000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4460316.520000</valUSD>
        <pctVal>0.0819502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.208</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>PFS FINANCING CORP 2023-C</name>
        <lei>N/A</lei>
        <title>PFS FINANCING CORP. PFSFC 2023 C A 144A</title>
        <cusip>69335PEY7</cusip>
        <identifiers>
          <isin value="US69335PEY79"/>
        </identifiers>
        <balance>8000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8122106.400000</valUSD>
        <pctVal>0.149229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.52</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 2017-H18</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H18 FB</title>
        <cusip>38376R6V3</cusip>
        <identifiers>
          <isin value="US38376R6V36"/>
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        <balance>3540389.770000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3597478.560000</valUSD>
        <pctVal>0.0660971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-09-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.11121</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>CANADIAN IMPERIAL BANK OF COMMERCE (CIBC)</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CANADIAN IMPERIAL BANK SR UNSECURED 10/26 VAR</title>
        <cusip>13607LWU3</cusip>
        <identifiers>
          <isin value="US13607LWU33"/>
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        <balance>1000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1009374.610000</valUSD>
        <pctVal>0.0185454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.66527</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 PASS THRU POOLS</name>
        <lei>N/A</lei>
        <title>FNMA POOL BZ1178 FN 06/31 FIXED 5.81</title>
        <cusip>3140NVJY4</cusip>
        <identifiers>
          <isin value="US3140NVJY44"/>
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        <balance>5600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5811480.640000</valUSD>
        <pctVal>0.106775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.81</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>GPMT LTD 2021-FL4</name>
        <lei>N/A</lei>
        <title>GPMT LTD. GPMT 2021 FL4 A 144A</title>
        <cusip>36262TAA1</cusip>
        <identifiers>
          <isin value="US36262TAA16"/>
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        <balance>1886365.110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1845911.240000</valUSD>
        <pctVal>0.0339152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.78411</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>MBARC CREDIT CANADA INC 2024-AA</name>
        <lei>N/A</lei>
        <title>MBARC CREDIT CANADA INC SALC 2024 AA A2 144A</title>
        <cusip>552755BX7</cusip>
        <identifiers>
          <isin value="CA552755BX74"/>
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        <balance>12957498.280000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.361800"/>
        <valUSD>9547863.370000</valUSD>
        <pctVal>0.175425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.299</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>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT GBP SOLD USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBNMTZ"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728900"/>
        <valUSD>-3064.330000</valUSD>
        <pctVal>-0.0000563</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
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            <amtCurSold>1616359.200000</amtCurSold>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BXMT 2020-FL3 LTD</name>
        <lei>N/A</lei>
        <title>BXMT LTD BXMT 2020 FL3 A 144A</title>
        <cusip>05608XAA0</cusip>
        <identifiers>
          <isin value="US05608XAA00"/>
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        <balance>8595638.160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8586770.040000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.32818</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>JACKSON NATIONAL LIFE GLOBAL FUNDING</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>JACKSON NATL LIFE GLOBAL SECURED 144A 01/27 4.9</title>
        <cusip>46849LVC2</cusip>
        <identifiers>
          <isin value="US46849LVC26"/>
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        <balance>7550000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7606781.740000</valUSD>
        <pctVal>0.139761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.9</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>ARES L CLO LTD 2018-50A</name>
        <lei>N/A</lei>
        <title>ARES CLO LTD ARES 2018 50A AR 144A</title>
        <cusip>04018LAJ4</cusip>
        <identifiers>
          <isin value="US04018LAJ44"/>
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        <balance>768217.640000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>768613.830000</valUSD>
        <pctVal>0.0141219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.56771</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>ANCHORAGE CAPITAL CLO 2021-20A LTD</name>
        <lei>N/A</lei>
        <title>ANCHORAGE CAPITAL CLO LTD ANCHC 2021 20A A1R 144A</title>
        <cusip>03330YAJ9</cusip>
        <identifiers>
          <isin value="US03330YAJ91"/>
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        <balance>2100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2094836.310000</valUSD>
        <pctVal>0.0384888</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.36947</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>SVENSKA HANDELSBANKEN AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
        <title>SVENSKA HANDELSBANKEN AB 03/26 VAR</title>
        <cusip>ACI1W4736</cusip>
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          <isin value="AU3FN0058632"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.1614</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD AUD BOUGHT USD 20250702</title>
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          <other otherDesc="Internal ID" value="25EUKBBMMBP"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.519900"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>BANCO SANTANDER S.A.</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2007-9</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2007 9 CF</title>
        <cusip>38375JMU6</cusip>
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          <isin value="US38375JMU69"/>
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        <balance>760555.810000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.73206</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>FREDDIE MAC REMICS 3314</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>OAK HILL EUROPEAN CREDIT PARTNERS IV DESIGNATED ACTIVITY CO 15-4A</name>
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          <isin value="XS1736667640"/>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2025-54</name>
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        <title>FANNIE MAE FNR 2025 54 FM</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>PENSKE TRUCK LEASING CO LP / PTL FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <lei>N/A</lei>
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        <name>PACIFIC LIFE GLOBAL FUNDING II</name>
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        <name>NATWEST MARKETS PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAYER US FINANCE II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO MITSUI TRUST BANK LIMITED</name>
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        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO BANK NV REGS 12/28 VAR</title>
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        <debtSec>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2024-H11</name>
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        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2024 H11 FD</title>
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      <invstOrSec>
        <name>FANNIE MAE REMICS 2024-38</name>
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        <title>FANNIE MAE FNR 2024 38 FA</title>
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      <invstOrSec>
        <name>AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>AUST + NZ BANKING GROUP SR UNSECURED 144A 07/25 VAR</title>
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        <curCd>USD</curCd>
        <valUSD>2700115.910000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ROYAL BANK OF CANADA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAMESTOWN CLO XVI LTD 2021-16A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CREDIT AGRICOLE SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SFS AUTO RECEIVABLES SECURITIZATION TRUST 2025-1A</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CREDIT AGRICOLE SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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          <isin value="US22535EAJ64"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST 2024-2</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DRYDEN 80 CLO LTD 2019-80A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
          <annualizedRt>5.52979</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>ASHFORD HOSPITALITY TRUST 2018-ASHF</name>
        <lei>N/A</lei>
        <title>ASHFORD HOSPITALITY TRUST AHT1 2018 ASHF A 144A</title>
        <cusip>04410RAA4</cusip>
        <identifiers>
          <isin value="US04410RAA41"/>
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        <balance>1985545.870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1976009.690000</valUSD>
        <pctVal>0.0363056</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.384</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>N/A</name>
        <lei>N/A</lei>
        <title>SOLD CAD BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBB9JCT"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.362300"/>
        <valUSD>-2175.040000</valUSD>
        <pctVal>-0.00004</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>STATE STREET CORPORATION</counterpartyName>
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            <amtCurSold>1678711.800000</amtCurSold>
            <curSold>CAD</curSold>
            <amtCurPur>1230042.670000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>-2175.040000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHR-4749</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4749 PD</title>
        <cusip>3137FCUQ5</cusip>
        <identifiers>
          <isin value="US3137FCUQ54"/>
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        <balance>3102407.820000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3062540.950000</valUSD>
        <pctVal>0.0562686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE REMICS 2013-96</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2013 96 FW</title>
        <cusip>3136AGAH5</cusip>
        <identifiers>
          <isin value="US3136AGAH51"/>
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        <balance>240063.190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>237503.880000</valUSD>
        <pctVal>0.0043637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81965</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>NORTHROP GRUMMAN CORPORATION</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMAN CORP</title>
        <cusip>66681LUQ1</cusip>
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          <isin value="US66681LUQ12"/>
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        <balance>9900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9869551.560000</valUSD>
        <pctVal>0.181335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-24</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>ENBRIDGE ENERGY PARTNERS LP</name>
        <lei>CZ6VG2MNE1J6YDI02G48</lei>
        <title>ENBRIDGE ENERGY PARTNERS COMPANY GUAR 10/25 5.875</title>
        <cusip>29250RAW6</cusip>
        <identifiers>
          <isin value="US29250RAW60"/>
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        <balance>3451000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3454138.480000</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>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NISSAN MOTOR ACCEPTANCE CORPORATION</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
        <title>NISSAN MOTOR ACCEPTANCE SR UNSECURED 144A 03/26 2</title>
        <cusip>654740BS7</cusip>
        <identifiers>
          <isin value="US654740BS71"/>
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        <balance>4000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3902450.480000</valUSD>
        <pctVal>0.0717004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2</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>COOPERATIEVE RABOBANK UA/NEW YORK BRANCH</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>COOPERAT RABOBANK UA/NY SR UNSECURED 03/27 VAR</title>
        <cusip>21688ABE1</cusip>
        <identifiers>
          <isin value="US21688ABE10"/>
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        <balance>2640000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2650193.330000</valUSD>
        <pctVal>0.0486925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.03426</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>FANNIE MAE REMICS 2019-46</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2019 46 FG</title>
        <cusip>3136B5XC4</cusip>
        <identifiers>
          <isin value="US3136B5XC48"/>
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        <balance>2689882.180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2658365.100000</valUSD>
        <pctVal>0.0488426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81965</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>N/A</name>
        <lei>N/A</lei>
        <title>3 MONTH SOFR FUT  JUN25 XCME 20250916</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SFRM5"/>
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        <balance>6722.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-397170.160000</valUSD>
        <pctVal>-0.0072973</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>90SOFR</issueTitle>
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            <expDate>2025-09-16</expDate>
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            <unrealizedAppr>-397170.160000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD CAD BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FOKBCGS73"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.362300"/>
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        <pctVal>-0.000107</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC BANK PLC</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>3 MONTH SOFR FUT  MAR26 XCME 20260616</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SFRH6"/>
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        <balance>6419.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>90SOFR</issueTitle>
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            <expDate>2026-06-16</expDate>
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            <unrealizedAppr>3837153.500000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN TOWER CORP (AKA: AMERICAN TOWER REIT INC)</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP SR UNSECURED 09/25 1.3</title>
        <cusip>03027XBB5</cusip>
        <identifiers>
          <isin value="US03027XBB55"/>
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        <balance>3606000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3581082.860000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.3</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US ULTRA BOND CBT SEP25 XCBT 20250919</title>
        <cusip>000000000</cusip>
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          <ticker value="WNU5"/>
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        <balance>-944.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3327650.440000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
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                <issueTitle>UNITED STATES GOVT</issueTitle>
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            <expDate>2025-09-19</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>-3327650.440000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GROUP INC</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINL GRP SR UNSECURED 01/27 VAR</title>
        <cusip>86562MCL2</cusip>
        <identifiers>
          <isin value="US86562MCL28"/>
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        <balance>20400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20505189.130000</valUSD>
        <pctVal>0.376745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.21356</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>SOUTHERN CALIFORNIA EDISON COMPANY</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CAL EDISON 1ST MORTGAGE 02/26 1.2</title>
        <cusip>842400GV9</cusip>
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          <isin value="US842400GV99"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8969853.630000</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>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.2</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>N/A</name>
        <lei>N/A</lei>
        <title>SOLD JPY BOUGHT USD 20250804</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBV976"/>
        </identifiers>
        <balance>1.000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="143.678700"/>
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        <pctVal>-0.0000004</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STANDARD CHARTERED BANK</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>POST ROAD EQUIPMENT FINANCE 2025-1 LLC</name>
        <lei>N/A</lei>
        <title>POST ROAD EQUIPMENT FINANCE PREF 2025 1A A2 144A</title>
        <cusip>73747LAB4</cusip>
        <identifiers>
          <isin value="US73747LAB45"/>
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        <balance>2300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2314268.740000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US 2YR NOTE (CBT) SEP25 XCBT 20250930</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="TUU5"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6444140.060000</valUSD>
        <pctVal>-0.118399</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>UNITED STATES GOVT</issueTitle>
                <identifiers>
                  <other otherDesc="Internal_ID" value="ADI2W3V11-UNITED STATES GOVT"/>
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            <unrealizedAppr>-6444140.060000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION 2011-H11</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2011 H11 FB</title>
        <cusip>38375BLQ3</cusip>
        <identifiers>
          <isin value="US38375BLQ31"/>
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        <balance>128927.720000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>129297.690000</valUSD>
        <pctVal>0.0023756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.94602</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>ENEL FINANCE INTERNATIONAL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>ENEL FINANCE INTL NV COMPANY GUAR 144A 10/25 7.05</title>
        <cusip>29278GAZ1</cusip>
        <identifiers>
          <isin value="US29278GAZ19"/>
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        <balance>8162000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8210560.720000</valUSD>
        <pctVal>0.150854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.05</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>BOUGHT JPY SOLD USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBNDLN"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="144.210000"/>
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        <pctVal>0.0000013</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. INTERNATIONAL PLC</counterpartyName>
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            <amtCurSold>71768.000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>10359710.000000</amtCurPur>
            <curPur>JPY</curPur>
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            <unrealizedAppr>69.670000</unrealizedAppr>
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        </derivativeInfo>
        <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>SOLD CAD BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FMKBB32CH"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.362300"/>
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        <pctVal>-0.0000211</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Citibank, National Association</counterpartyName>
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            <amtCurSold>444325.280000</amtCurSold>
            <curSold>CAD</curSold>
            <amtCurPur>325000.000000</amtCurPur>
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            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>-1146.200000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALIMENTATION COUCHE-TARD INC</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>ALIMENTATION COUCHE TARD INC 07/25 ZCP</title>
        <cusip>01626UUV5</cusip>
        <identifiers>
          <isin value="US01626UUV50"/>
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        <balance>10100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10061870.480000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0</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>SOUTHERN CALIFORNIA EDISON COMPANY</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CAL EDISON SOUTHERN CAL EDISON</title>
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          <isin value="US842400JB09"/>
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        <balance>12600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12664974.420000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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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>SFS AUTO RECEIVABLES SECURITIZATION TRUST 2024-1A</name>
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        <title>SFS AUTO RECEIVABLES SECURITIZ SFAST 2024 1A A2 144A</title>
        <cusip>78435VAB8</cusip>
        <identifiers>
          <isin value="US78435VAB80"/>
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        <balance>2086659.410000</balance>
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        <curCd>USD</curCd>
        <valUSD>2087864.250000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS AG/SYDNEY BRANCH</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>UBS AG AUSTRALIA SR UNSECURED REGS 07/25 VAR</title>
        <cusip>ACI1PHF10</cusip>
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          <isin value="AU3FN0055307"/>
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        <balance>17200000.000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.519400"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOEING CO/THE</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO SR UNSECURED 02/26 2.196</title>
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          <isin value="US097023DG73"/>
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        <balance>8772000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8636328.040000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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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>VOLKSWAGEN AUTO LEASE TRUST 2024-A</name>
        <lei>N/A</lei>
        <title>VOLKSWAGEN AUTO LEASE TRUST VWALT 2024 A A2B</title>
        <cusip>92866EAC3</cusip>
        <identifiers>
          <isin value="US92866EAC30"/>
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        <balance>6005390.870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6007172.070000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AERCAP IRELAND CAPITAL DAC / AERCAP GLOBAL AVIATION TRUST</name>
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        <title>AERCAP IRELAND CAP/GLOBA COMPANY GUAR 07/25 6.5</title>
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          <isin value="US00774MAN56"/>
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        <balance>8533000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8538531.010000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T MOBILE USA INC COMPANY GUAR 02/26 2.25</title>
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          <isin value="US87264ABR59"/>
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        <balance>2384000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2348576.380000</valUSD>
        <pctVal>0.0431508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25</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>SOUTHERN CALIFORNIA EDISON COMPANY</name>
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      <invstOrSec>
        <name>HERTZ VEHICLE FINANCING III LLC 2023-4A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>BERRY GLOBAL INC</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES GOVT</name>
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        <balance>752000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD CAD BOUGHT USD 20250805</title>
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        <assetCat>DFE</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4344</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4344 FA</title>
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        <securityLending>
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      <invstOrSec>
        <name>ALGONQUIN POWER &amp; UTILITIES CORP</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <name>FHLMC MULTIFAMILY STRUCTURED PASS THROUGH CERTS K054</name>
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        <invCountry>US</invCountry>
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        <name>EVERSOURCE ENERGY</name>
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        <curCd>USD</curCd>
        <valUSD>1830541.420000</valUSD>
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        <name>GOLDEN CREDIT CARD TRUST 2022-4A</name>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FANNIE MAE REMICS 2014-38</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2014 38 HA</title>
        <cusip>3136AKNW9</cusip>
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          <isin value="US3136AKNW93"/>
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        <balance>67400.600000</balance>
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        <curCd>USD</curCd>
        <valUSD>66867.890000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <name>FORTRESS CREDIT BSL VII LTD 2019-1A</name>
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        <title>FORTRESS CREDIT BSL LIMITED FCBSL 2019 1A A1R 144A</title>
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        <curCd>USD</curCd>
        <valUSD>7439145.780000</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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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 5513</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5513 MF</title>
        <cusip>3137HKEX8</cusip>
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          <isin value="US3137HKEX87"/>
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        <balance>80316213.280000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80152215.600000</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>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KRAFT HEINZ FOODS COMPANY</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>KRAFT HEINZ FOODS CO COMPANY GUAR 06/26 3</title>
        <cusip>50077LAD8</cusip>
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          <isin value="US50077LAD82"/>
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        <balance>4339000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4283342.820000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD JPY BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ERKBCBH13"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="144.210000"/>
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        <pctVal>0.0000139</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>WELLS FARGO &amp; COMPANY</counterpartyName>
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            <amtCurSold>19517904.000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>136101.000000</amtCurPur>
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            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>757.380000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 03/27 VAR</title>
        <cusip>44891ADS3</cusip>
        <identifiers>
          <isin value="US44891ADS33"/>
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        <balance>8500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8488469.500000</valUSD>
        <pctVal>0.15596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.37084</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>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO BANK NV 144A 10/26 VAR</title>
        <cusip>00084DBC3</cusip>
        <identifiers>
          <isin value="US00084DBC39"/>
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        <balance>32400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32569542.400000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.575</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>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT ILS SOLD USD 20250718</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FJKBBRCX6"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="ILS" exchangeRt="3.373200"/>
        <valUSD>17950.660000</valUSD>
        <pctVal>0.0003298</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>BANK OF AMERICA CORPORATION</counterpartyName>
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            <amtCurSold>254395.260000</amtCurSold>
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            <unrealizedAppr>17950.660000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATWEST MARKETS PLC</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NATWEST MARKETS PLC SR UNSECURED 144A 09/26 VAR</title>
        <cusip>63906YAE8</cusip>
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          <isin value="US63906YAE86"/>
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        <balance>6087000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6104872.040000</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>2026-09-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.17108</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>N/A</name>
        <lei>N/A</lei>
        <title>SOLD AUD BOUGHT USD 20250805</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FRKBBPSK6"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.518900"/>
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        <pctVal>-0.0331225</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>WELLS FARGO &amp; COMPANY</counterpartyName>
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            <amtCurSold>433237453.300000</amtCurSold>
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            <curPur>USD</curPur>
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        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES GOVT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY BILL 10/25 0.00000</title>
        <cusip>912797RD1</cusip>
        <identifiers>
          <isin value="US912797RD17"/>
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        <balance>783000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>772782.810000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-21</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>SWEDBANK AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>SWEDBANK AB 144A 09/26 6.136</title>
        <cusip>87020PAX5</cusip>
        <identifiers>
          <isin value="US87020PAX50"/>
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        <balance>14400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14712759.220000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.136</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 2017-H14</name>
        <lei>N/A</lei>
        <title>GOVERNMENT NATIONAL MORTGAGE A GNR 2017 H14 FG</title>
        <cusip>38376R4U7</cusip>
        <identifiers>
          <isin value="US38376R4U70"/>
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        <balance>416212.010000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>422099.830000</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>2067-06-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.2274</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>PFS FINANCING CORP 2023-D</name>
        <lei>N/A</lei>
        <title>PFS FINANCING CORP. PFSFC 2023 D A 144A</title>
        <cusip>69335PFA8</cusip>
        <identifiers>
          <isin value="US69335PFA84"/>
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        <balance>38700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38731555.980000</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>2027-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.45385</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC REMICS 4203</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4203 NJ</title>
        <cusip>3137B2DN7</cusip>
        <identifiers>
          <isin value="US3137B2DN73"/>
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        <balance>168630.390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167765.540000</valUSD>
        <pctVal>0.0030824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</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>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>LLOYDS BANKING GROUP PLC LLOYDS BANKING GROUP PLC</title>
        <cusip>53944YAY9</cusip>
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          <isin value="US53944YAY95"/>
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        <balance>6600000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6669198.490000</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>2028-01-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.00574</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>SUMITOMO MITSUI FINANCIAL GROUP INC</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINL GRP SR UNSECURED 01/26 VAR</title>
        <cusip>86562MCU2</cusip>
        <identifiers>
          <isin value="US86562MCU27"/>
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        <balance>15113000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15203785.300000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.76356</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>ISRAEL GOVT</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>STATE OF ISRAEL SR UNSECURED REGS 10/26 5</title>
        <cusip>ACI2KT2T0</cusip>
        <identifiers>
          <isin value="XS2711443932"/>
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        <balance>1700000.000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</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>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT GBP SOLD USD 20250702</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="25FRKBB6QP3"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728900"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>STATE STREET CORPORATION</counterpartyName>
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            <amtCurSold>51274662.820000</amtCurSold>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC REMICS 4842</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 4842 FW</title>
        <cusip>3137FJG52</cusip>
        <identifiers>
          <isin value="US3137FJG520"/>
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        <curCd>USD</curCd>
        <valUSD>19860541.370000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
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        <cusip>00084EAF5</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-18</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUITABLE FINANCIAL LIFE GLOBAL FUNDING</name>
        <lei>635400B4JJBON4TCHF02</lei>
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        <valUSD>9540934.170000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA SR UNSECURED 10/27 VAR</title>
        <cusip>78017FZR7</cusip>
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          <isin value="US78017FZR71"/>
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        <balance>15000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-18</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS COMPANY</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO SR UNSECURED 11/26 VAR</title>
        <cusip>025816CL1</cusip>
        <identifiers>
          <isin value="US025816CL12"/>
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        <balance>1300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1302682.930000</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>2026-11-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.97714</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCCRE TRUST 2015-GTP</name>
        <lei>N/A</lei>
        <title>BBCCRE TRUST BBCCR 2015 GTP A 144A</title>
        <cusip>05490TAA0</cusip>
        <identifiers>
          <isin value="US05490TAA07"/>
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        <balance>2000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1849195.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.966</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>BAYER US FINANCE II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>BAYER US FINANCE II LLC COMPANY GUAR 144A 12/28 4.375</title>
        <cusip>07274NAL7</cusip>
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          <isin value="US07274NAL73"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1486399.680000</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>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375</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>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT AUD SOLD USD 20250702</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="25FRKBBPSHR"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.519900"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD CAD BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25EUKBB4717"/>
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        <units>NC</units>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
        <name>HARLEY-DAVIDSON INC</name>
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        <identifiers>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>SWEDBANK AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>SWEDBANK AB 144A 09/27 5.337</title>
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        <balance>9955000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.337</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>AVOLON HOLDINGS FUNDING LIMITED</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>AVOLON HOLDINGS FNDG LTD SR UNSECURED 144A 02/26 2.125</title>
        <cusip>05401AAM3</cusip>
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          <isin value="US05401AAM36"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <name>BANQUE FEDERATIVE DU CREDIT MUTUEL (BFCM)</name>
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        <name>DROP MORTGAGE TRUST 2021-FILE</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FANNIE MAE REMICS 2016-40</name>
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        <title>FANNIE MAE FNR 2016 40 PF</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>HYUNDAI AUTO RECEIVABLES TRUST 2024-A</name>
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        <name>CSWF 2021-SOP2</name>
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        <name>FANNIE MAE REMICS 2025-4</name>
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        <name>CITIGROUP INC</name>
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        <name>CHASE AUTO OWNER TRUST 2023-AA</name>
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        <name>VENTURE 44 CLO LTD</name>
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        <name>FANNIE MAE REMICS 2024-103</name>
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        <name>CARLYLE EURO CLO 2019-2 DAC 19-2A</name>
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        <name>CITIZENS AUTO RECEIVABLES TRUST 2024-1</name>
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        <name>WORLD OMNI AUTO RECEIVABLES TRUST 2023-C</name>
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        <name>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JACKSON NATIONAL LIFE GLOBAL FUNDING</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING BANK (AUSTRALIA) LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2021-MHC</name>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROLLS-ROYCE PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EXTENDED STAY AMERICA TRUST 2021-ESH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TOYOTA LEASE OWNER TRUST 2024-B</name>
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        <title>TOYOTA LEASE OWNER TRUST TLOT 2024 B A2B 144A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <name>OAK HILL EUROPEAN CREDIT PARTNERS VII DAC 18-7A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CIGNA GROUP/THE</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
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        <name>UWM-2021-INV4</name>
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        <title>UNITED WHOLESALE MORTGAGE LLC UWM 2021 INV4 A9 144A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ICG US CLO LTD 2015-2RA</name>
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        <title>ICG US CLO LTD ICG 2015 2RA A1R 144A</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25054</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 GOVT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY BILL 07/25 0.00000</title>
        <cusip>912797PU5</cusip>
        <identifiers>
          <isin value="US912797PU59"/>
        </identifiers>
        <balance>4100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4100000.000000</valUSD>
        <pctVal>0.07533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>US 10YR ULTRA FUT SEP25 XCBT 20250919</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="UXYU5"/>
        </identifiers>
        <balance>-332.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-609662.000000</valUSD>
        <pctVal>-0.0112014</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO BOARD OF TRADE</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>UNITED STATES GOVT</issueTitle>
                <identifiers>
                  <other otherDesc="Internal_ID" value="ADI2VX3V1-UNITED STATES GOVT"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-09-19</expDate>
            <notionalAmt>-37933593.580000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-609662.000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE REMICS 2025-18</name>
        <lei>N/A</lei>
        <title>FANNIE MAE FNR 2025 18 FM</title>
        <cusip>3136BVKH0</cusip>
        <identifiers>
          <isin value="US3136BVKH00"/>
        </identifiers>
        <balance>85195180.800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84913704.440000</valUSD>
        <pctVal>1.56013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.20517</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>VOLKSWAGEN GROUP OF AMERICA FINANCE LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VOLKSWAGEN GROUP AMERICA COMPANY GUAR 144A 11/25 1.25</title>
        <cusip>928668BL5</cusip>
        <identifiers>
          <isin value="US928668BL58"/>
        </identifiers>
        <balance>12548000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12378078.120000</valUSD>
        <pctVal>0.227425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25</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>OCEAN TRAILS CLO XI 2021-11A</name>
        <lei>N/A</lei>
        <title>OCEAN TRAILS CLO OCTR 2021 11A AR 144A</title>
        <cusip>67514VAL3</cusip>
        <identifiers>
          <isin value="US67514VAL36"/>
        </identifiers>
        <balance>20100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20103135.800000</valUSD>
        <pctVal>0.369358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.29947</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>AMERICAN ELECTRIC POWER COMPANY INC</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>AMERICAN ELECTRIC POWER JR SUBORDINA 08/25 5.699</title>
        <cusip>02557TAD1</cusip>
        <identifiers>
          <isin value="US02557TAD19"/>
        </identifiers>
        <balance>5800000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5804747.530000</valUSD>
        <pctVal>0.106652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.699</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>SUMITOMO MITSUI FINANCIAL GROUP INC</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINL GRP SR UNSECURED 07/26 VAR</title>
        <cusip>86562MCZ1</cusip>
        <identifiers>
          <isin value="US86562MCZ14"/>
        </identifiers>
        <balance>5160000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5210810.620000</valUSD>
        <pctVal>0.0957391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.63711</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>FREDDIE MAC REMICS 5115</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC FHR 5115 EM</title>
        <cusip>3137H0W53</cusip>
        <identifiers>
          <isin value="US3137H0W535"/>
        </identifiers>
        <balance>17681432.420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15526338.100000</valUSD>
        <pctVal>0.285268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</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>SYNCHRONY CARD FUNDING LLC 2024-A1</name>
        <lei>N/A</lei>
        <title>SYNCHRONY CARD ISSUANCE TRUST SYNIT 2024 A1 A</title>
        <cusip>87166PAM3</cusip>
        <identifiers>
          <isin value="US87166PAM32"/>
        </identifiers>
        <balance>10600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10746846.040000</valUSD>
        <pctVal>0.197454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.04</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="Total returns do not deduct sales loads and redemption fees." noteItem="B.5.a"/>

      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.c.vi"/>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D.  This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.d.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.e.iii"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list.  Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.f.ii"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-08-19</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO Funds</ncom:nameOfApplicant>
      <ncom:signature>/s/ Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
