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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
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          <isin value="US01F0226757"/>
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        <balance>100000.00000000</balance>
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        <valUSD>83570.31000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F030686</cusip>
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          <isin value="US01F0306864"/>
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        <balance>4300000.00000000</balance>
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        <valUSD>3747718.71000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F032682</cusip>
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          <isin value="US01F0326821"/>
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        <balance>5900000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F040685</cusip>
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          <isin value="US01F0406854"/>
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        <balance>600000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F042673</cusip>
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          <isin value="US01F0426738"/>
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        <balance>2900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2778562.47000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F050676</cusip>
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          <isin value="US01F0506760"/>
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        <balance>12800000.00000000</balance>
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        <valUSD>12579022.72000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F052672</cusip>
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          <isin value="US01F0526727"/>
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        <balance>3900000.00000000</balance>
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        <valUSD>3913070.81000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F060683</cusip>
        <identifiers>
          <isin value="US01F0606834"/>
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        <balance>11400000.00000000</balance>
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        <valUSD>11617566.26000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial, Inc.</title>
        <cusip>02005NBZ2</cusip>
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          <isin value="US02005NBZ24"/>
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        <balance>100000.00000000</balance>
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        <valUSD>101409.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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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>AMER AIRLN 15-1 A PTT</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust</title>
        <cusip>023770AA8</cusip>
        <identifiers>
          <isin value="US023770AA81"/>
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        <balance>134633.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133124.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.38000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMER AIRLINE 16-3 A PTT</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust</title>
        <cusip>023771S25</cusip>
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          <isin value="US023771S255"/>
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        <balance>54908.55000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52491.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>AMERICAN ASSETS TRUST LP</name>
        <lei>549300V1TI0SMG9Z6U69</lei>
        <title>American Assets Trust LP</title>
        <cusip>02401LAA2</cusip>
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          <isin value="US02401LAA26"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182914.20000000</valUSD>
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        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.38000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Home Mortgage Investment Trust</name>
        <lei>N/A</lei>
        <title>American Home Mortgage Investment Trust</title>
        <cusip>02660CAF7</cusip>
        <identifiers>
          <isin value="US02660CAF77"/>
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        <balance>83825.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48319.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN HONDA FINANCE</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
        <cusip>02665WGH8</cusip>
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          <isin value="US02665WGH88"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200205.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.36000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN TOWER CORP</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XBS8</cusip>
        <identifiers>
          <isin value="US03027XBS80"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>176508.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ameriquest Mortgage Securities Inc.</name>
        <lei>N/A</lei>
        <title>Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates</title>
        <cusip>03072SQ32</cusip>
        <identifiers>
          <isin value="US03072SQ327"/>
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        <balance>30127.05000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30010.79000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.47000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMGEN INC</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162CU2</cusip>
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          <isin value="US031162CU27"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>185529.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</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>Apple Inc</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
        <cusip>037833100</cusip>
        <identifiers>
          <isin value="US0378331005"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1446800.00000000</valUSD>
        <pctVal>1.255366223465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ASHTEAD CAPITAL INC</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, Inc.</title>
        <cusip>045054AR4</cusip>
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          <isin value="US045054AR41"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206411.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Autoliv Inc</name>
        <lei>A23RUXWKASG834LTMK28</lei>
        <title>Autoliv, Inc.</title>
        <cusip>05280MHR5</cusip>
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          <isin value="US05280MHR51"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248432.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.07000000</annualizedRt>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAR2</cusip>
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          <isin value="US05401AAR23"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2911.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.53000000</annualizedRt>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAW1</cusip>
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          <isin value="US05401AAW18"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100257.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAZ4</cusip>
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          <isin value="US05401AAZ49"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101035.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.38000000</annualizedRt>
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      <invstOrSec>
        <name>BGC GROUP INC</name>
        <lei>2549001IGRCG4F0RLD36</lei>
        <title>BGC Group, Inc.</title>
        <cusip>05555LAD3</cusip>
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          <isin value="US05555LAD38"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102084.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>05565AGF4</cusip>
        <identifiers>
          <isin value="US05565AGF49"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307326.60000000</valUSD>
        <pctVal>0.266662588617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMW US CAPITAL LLC</name>
        <lei>KK5MZM9DIXLXZL9DZL15</lei>
        <title>BMW U.S. Capital LLC</title>
        <cusip>05565ECW3</cusip>
        <identifiers>
          <isin value="US05565ECW30"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100372.45000000</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>2028-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>05571AAQ8</cusip>
        <identifiers>
          <isin value="US05571AAQ85"/>
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        <balance>550000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>553318.76000000</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>2027-10-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.61000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAKER HUGHES LLC/CO-OBL</name>
        <lei>N/A</lei>
        <title>Baker Hughes Holdings LLC/Baker Hughes Co-Obligor, Inc.</title>
        <cusip>05724BAP4</cusip>
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          <isin value="US05724BAP40"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244619.46000000</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>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Banco de Credito e Inversiones SA/Miami FL</name>
        <lei>549300E9E5Y3PKW24142</lei>
        <title>Banco de Credito e Inversiones SA/Miami</title>
        <cusip>05990DJ37</cusip>
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          <isin value="US05990DJ374"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297803.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>060505GQ1</cusip>
        <identifiers>
          <isin value="US060505GQ16"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196526.21000000</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>2032-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.46000000</annualizedRt>
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      <invstOrSec>
        <name>Banc of America Funding Corporation</name>
        <lei>5493001796TAQ7M7QX12</lei>
        <title>Banc of America Funding Trust</title>
        <cusip>06051GBD0</cusip>
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          <isin value="US06051GBD07"/>
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        <balance>6960.47000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6929.14000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-20</maturityDt>
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          <annualizedRt>6.18000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GMT3</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199949.68000000</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>4.62000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GNA3</cusip>
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          <isin value="US06051GNA30"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>198360.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738EBD6</cusip>
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          <isin value="US06738EBD67"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>702980.23000000</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>2029-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.97000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bear Stearns Adjustable Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ARM Trust</title>
        <cusip>07384MB68</cusip>
        <identifiers>
          <isin value="US07384MB681"/>
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        <balance>11659.56000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10997.38000000</valUSD>
        <pctVal>0.009542258362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</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>Bear Stearns Alt-A Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns ALT-A Trust</title>
        <cusip>07386HQ87</cusip>
        <identifiers>
          <isin value="US07386HQ874"/>
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        <balance>492761.83000000</balance>
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      <invstOrSec>
        <name>Bear Stearns Asset Backed Securities Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEIGNET INVESTOR LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benefit Street Partners CLO Ltd</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-30</maturityDt>
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      <invstOrSec>
        <name>Booking Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOSTON GAS COMPANY</name>
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        <title>Boston Gas Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRIXMOR OPERATING PART</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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      <invstOrSec>
        <name>CIT Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <balance>226647.86000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CBRE Services Inc</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE Services, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CSAB Mortgage Backed Trust</name>
        <lei>N/A</lei>
        <title>CSAB Mortgage-Backed Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Suisse Mortgage Trust</name>
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        <title>CSMC Mortgage-Backed Trust</title>
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        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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        <name>Countrywide Asset-Backed Certificates</name>
        <lei>549300XF11BHS5IOB463</lei>
        <title>Countrywide Asset-Backed Certificates Trust</title>
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        <name>Countrywide Asset-Backed Certificates</name>
        <lei>549300H6I2066O1LC673</lei>
        <title>Countrywide Asset-Backed Certificates Trust</title>
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        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <balance>200000.00000000</balance>
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        <name>CENTENE CORP</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
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        <balance>200000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>CONSTELLATION BRANDS INC</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
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        <balance>300000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>UBS AG</name>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered Bank</name>
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      <invstOrSec>
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        <name>HSBC Bank PLC</name>
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        <name>HSBC Bank PLC</name>
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        <name>Goldman Sachs Bank USA</name>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
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      <invstOrSec>
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      <invstOrSec>
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        <name>Societe Generale SA</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Barclays Bank PLC</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <name>Goldman Sachs Bank USA</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <title>Purchased USD / Sold IDR</title>
        <cusip>000000000</cusip>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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      <invstOrSec>
        <name>Bank of America NA</name>
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      <invstOrSec>
        <name>Standard Chartered Bank</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <name>Goldman Sachs Bank USA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>JPMorgan Chase Bank NA</name>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
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        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
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        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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        <derivativeInfo>
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      <invstOrSec>
        <name>Standard Chartered Bank</name>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <title>Purchased USD / Sold EUR</title>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>Citibank NA</name>
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        <name>Deutsche Bank AG</name>
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        <name>Standard Chartered Bank</name>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <name>JPMorgan Chase Bank NA</name>
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        <currencyConditional curCd="AUD" exchangeRt="1.44435600"/>
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      <invstOrSec>
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        <currencyConditional curCd="AUD" exchangeRt="1.44520557"/>
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      <invstOrSec>
        <name>Societe Generale SA</name>
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        <currencyConditional curCd="SGD" exchangeRt="1.29375000"/>
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      <invstOrSec>
        <name>Societe Generale SA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>JPMorgan Chase Bank NA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <currencyConditional curCd="INR" exchangeRt="94.80069200"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>Bank of America NA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <derivativeInfo>
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      <invstOrSec>
        <name>Bank of America NA</name>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <name>Wells Fargo Bank NA</name>
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        <name>Wells Fargo Bank NA</name>
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      <invstOrSec>
        <name>Bank of America NA</name>
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        <name>BNP Paribas SA</name>
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      <invstOrSec>
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        <name>State Street Bank &amp; Trust Co.</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Societe Generale SA</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Societe Generale SA</name>
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        <assetCat>DFE</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.69635000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Wells Fargo Bank NA</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
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        <title>Purchased SEK / Sold USD</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="SEK" exchangeRt="9.67905723"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Wells Fargo Bank NA</counterpartyName>
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            <amtCurSold>33319.00000000</amtCurSold>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="NZD" exchangeRt="1.75875456"/>
        <valUSD>-1815.54000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Australia &amp; New Zealand Banking Group Ltd.</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <title>Purchased USD / Sold CHF</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CHF" exchangeRt="0.80800000"/>
        <valUSD>-4.03000000</valUSD>
        <pctVal>-0.00000349676</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="NOK" exchangeRt="9.89850000"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
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        <securityLending>
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      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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        <title>Purchased NOK / Sold USD</title>
        <cusip>000000000</cusip>
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        <currencyConditional curCd="NOK" exchangeRt="9.90292357"/>
        <valUSD>-1.45000000</valUSD>
        <pctVal>-0.00000125814</pctVal>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>State Street Bank &amp; Trust Co.</name>
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        <title>Purchased GBP / Sold USD</title>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>State Street Bank &amp; Trust Co.</name>
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        <currencyConditional curCd="GBP" exchangeRt="0.75390845"/>
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      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <currencyConditional curCd="CAD" exchangeRt="1.41825000"/>
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      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <currencyConditional curCd="CAD" exchangeRt="1.41623200"/>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <title>Purchased INR / Sold USD</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="95.31275758"/>
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        <assetCat>DFE</assetCat>
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        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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            <curPur>INR</curPur>
            <settlementDt>2026-09-30</settlementDt>
            <unrealizedAppr>-32.24000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Purchased USD / Sold INR</title>
        <cusip>000000000</cusip>
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        <balance>1.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.70207600"/>
        <valUSD>35.81000000</valUSD>
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        <name>HSBC Bank PLC</name>
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        <name>BNP Paribas SA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>Citibank NA</name>
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        <name>Wells Fargo Bank NA</name>
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        <name>Enbridge US Inc</name>
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        <title>Energy Transfer LP</title>
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        <name>ENEL FINANCE INTL NV</name>
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        <title>ENEL Finance International NV</title>
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        <name>Entergy Corp</name>
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        <title>Entergy Corp.</title>
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        <name>EQUINIX INC</name>
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        <title>Equinix, Inc.</title>
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        <name>EVERGY INC</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy, Inc.</title>
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        <name>Evergy Missouri West Inc</name>
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        <name>Fannie Mae</name>
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        <name>FEDEX FREIGHT HOLDING CO</name>
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        <name>Fidelity National Information Services Inc</name>
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        <name>MITCHELLS &amp; BUTLERS FINA</name>
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        <name>Fremont Home Loan Trust</name>
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        <name>HALEON US CAPITAL LLC</name>
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        <name>Glencore Funding LLC</name>
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      <invstOrSec>
        <name>Global Payments Inc</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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        <balance>500000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-02</maturityDt>
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      <invstOrSec>
        <name>Global Payments Inc</name>
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        <title>Global Payments, Inc.</title>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249827.08000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-06</maturityDt>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>187475.64000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <title>Goldman Sachs Group, Inc.</title>
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          <isin value="US38141GD355"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>195649.31000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-21</maturityDt>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <title>Goldman Sachs Group, Inc.</title>
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          <isin value="US38141GE833"/>
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        <curCd>USD</curCd>
        <valUSD>99448.52000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-20</maturityDt>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc.</title>
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          <isin value="US38141GZR81"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc.</title>
        <cusip>38145GAR1</cusip>
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          <isin value="US38145GAR11"/>
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        <curCd>USD</curCd>
        <valUSD>294398.36000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-21</maturityDt>
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      <invstOrSec>
        <name>HCA Inc</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-17</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>HCA Inc</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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          <isin value="US40412DHJ19"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>248506.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-18</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-11</maturityDt>
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          <annualizedRt>5.21000000</annualizedRt>
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        <name>HSI Asset Securitization Corporation Trust</name>
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          <isin value="US40430HED61"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-25</maturityDt>
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        <name>HARBOUR ENERGY PLC</name>
        <lei>213800YPC42DYBKVPF97</lei>
        <title>Harbour Energy PLC</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101983.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>HarborView Mortgage Loan Trust</name>
        <lei>549300SZXFEQICAU3R39</lei>
        <title>HarborView Mortgage Loan Trust</title>
        <cusip>41161QAM3</cusip>
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          <isin value="US41161QAM33"/>
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        <balance>98337.45000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2036-06-19</maturityDt>
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        <name>HILTON DOMESTIC OPERATIN</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
        <cusip>432833AJ0</cusip>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
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        <name>HILTON DOMESTIC OPERATIN</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
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      <invstOrSec>
        <name>HYATT HOTELS CORP</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp.</title>
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        <valUSD>150977.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-30</maturityDt>
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          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ADV6</cusip>
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          <isin value="US44891ADV61"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200569.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IRB HOLDING CORP</name>
        <lei>549300HVW4WNWYBXN830</lei>
        <title>IRB Holding Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING GROEP NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STATE OF ISRAEL</name>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-12</maturityDt>
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      <invstOrSec>
        <name>STATE OF ISRAEL</name>
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        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-19</maturityDt>
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        <name>Banco Itau Chile/New York</name>
        <lei>254900TH0O71SXGPQ758</lei>
        <title>Banco Itau Chile</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-06</maturityDt>
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      <invstOrSec>
        <name>IXIS Real Estate Capital Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-25</maturityDt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PCU84"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-25</maturityDt>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-24</maturityDt>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>Jabil Inc</name>
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          <maturityDt>2026-07-06</maturityDt>
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        <name>Jabil Inc</name>
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        <name>JANE STREET GRP/JSG FIN</name>
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        <name>Keurig Dr Pepper Inc</name>
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        <name>Keurig Dr Pepper Inc</name>
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        <name>LPL HOLDINGS INC</name>
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        <name>LAS VEGAS SANDS CORP</name>
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        <title>Las Vegas Sands Corp.</title>
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        <name>LAZARD GROUP LLC</name>
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        <title>Lazard Group LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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          <isin value="US53944YAZ60"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301551.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.46000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>MARRIOTT INTERNATIONAL</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
        <cusip>571903BG7</cusip>
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          <isin value="US571903BG74"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>183865.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
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      <invstOrSec>
        <name>MASTR Adjustable Rate Mortgages Trust</name>
        <lei>N/A</lei>
        <title>MASTR Adjustable Rate Mortgages Trust</title>
        <cusip>576433MC7</cusip>
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          <isin value="US576433MC73"/>
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        <balance>20377.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20046.30000000</valUSD>
        <pctVal>0.017393867794</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.64000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mellon Residential Funding Corporation</name>
        <lei>N/A</lei>
        <title>Mellon Residential Funding Corp. Mortgage Pass-Through Trust</title>
        <cusip>585525FX1</cusip>
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          <isin value="US585525FX10"/>
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        <balance>22137.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22164.06000000</valUSD>
        <pctVal>0.019231415744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MercadoLibre Inc</name>
        <lei>549300DKPDN9M5S8GB14</lei>
        <title>MercadoLibre, Inc.</title>
        <cusip>58733R102</cusip>
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          <isin value="US58733R1023"/>
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        <balance>700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1188173.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MIZUHO FINANCIAL GROUP</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
        <cusip>60687YBX6</cusip>
        <identifiers>
          <isin value="US60687YBX67"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>192257.12000000</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>2030-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.26000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MIZUHO FINANCIAL GROUP</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
        <cusip>60687YDH9</cusip>
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          <isin value="US60687YDH99"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>201617.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Capital Inc</name>
        <lei>5493002PQ8PF80BA0L77</lei>
        <title>Morgan Stanley ABS Capital I, Inc. Trust</title>
        <cusip>61744CKY1</cusip>
        <identifiers>
          <isin value="US61744CKY11"/>
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        <balance>231293.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>219002.19000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61748UAR3</cusip>
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          <isin value="US61748UAR32"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296118.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Capital Inc</name>
        <lei>5493002PQ8PF80BA0L77</lei>
        <title>Morgan Stanley ABS Capital I, Inc. Trust</title>
        <cusip>61750FAE0</cusip>
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          <isin value="US61750FAE07"/>
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        <balance>610172.92000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204948.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.06000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MUTUAL OF OMAHA GLOBAL</name>
        <lei>635400AL5J3F1ZPTAN95</lei>
        <title>Mutual of Omaha Cos Global Funding</title>
        <cusip>62829D2E9</cusip>
        <identifiers>
          <isin value="US62829D2E95"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99923.61000000</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>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL FUEL GAS CO</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co.</title>
        <cusip>636180BT7</cusip>
        <identifiers>
          <isin value="US636180BT74"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101810.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL HEALTH INVESTOR</name>
        <lei>549300ZPKZIG6DKDEC02</lei>
        <title>National Health Investors, Inc.</title>
        <cusip>63633DAF1</cusip>
        <identifiers>
          <isin value="US63633DAF15"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>181320.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NISSAN MOTOR CO</name>
        <lei>353800DRBDH1LUTNAY26</lei>
        <title>Nissan Motor Co. Ltd.</title>
        <cusip>654744AD3</cusip>
        <identifiers>
          <isin value="US654744AD34"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>186364.97000000</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>2030-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.81000000</annualizedRt>
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      <invstOrSec>
        <name>Northwoods Capital Ltd</name>
        <lei>254900UXEMW3RG9T8D39</lei>
        <title>Northwoods Capital 25 Ltd.</title>
        <cusip>668468AL5</cusip>
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          <isin value="US668468AL53"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500375.68000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>NVIDIA Corp</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp.</title>
        <cusip>67066G104</cusip>
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        <balance>7000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1400630.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PACIFIC GAS &amp; ELECTRIC</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas &amp; Electric Co.</title>
        <cusip>694308JT5</cusip>
        <identifiers>
          <isin value="US694308JT56"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184560.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PACIFIC GAS &amp; ELECTRIC</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas &amp; Electric Co.</title>
        <cusip>694308KC0</cusip>
        <identifiers>
          <isin value="US694308KC03"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193359.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFICORP</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PacifiCorp</title>
        <cusip>695114DP0</cusip>
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          <isin value="US695114DP08"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50774.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
        <lei>549300ZX07JYMI8GHQ39</lei>
        <title>Penske Truck Leasing Co. LP</title>
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          <isin value="US70962BGV09"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249171.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REPUBLIC OF PERU</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Peru Government International Bonds</title>
        <cusip>715638BE1</cusip>
        <identifiers>
          <isin value="US715638BE14"/>
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        <balance>2481000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REPUBLIC OF PERU</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Peru Government International Bonds</title>
        <cusip>715638BY7</cusip>
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          <isin value="US715638BY77"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="PEN" exchangeRt="3.41800000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PETROLEOS MEXICANOS</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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          <isin value="US71643VAB18"/>
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        <balance>199000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200885.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PIMCO PRV SHORT TERM FLT III</name>
        <lei>LWVQWTQCFH3YG7CVH718</lei>
        <title>PIMCO Short-Term Floating NAV Portfolio III</title>
        <cusip>72201W154</cusip>
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          <isin value="US72201W1541"/>
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        <balance>1435683.69000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PIMCO SHORT ASSET PORTFOLIO</name>
        <lei>549300F9QJIJF2GM8419</lei>
        <title>PIMCO Short Asset Portfolio</title>
        <cusip>72202G380</cusip>
        <identifiers>
          <isin value="US72202G3801"/>
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        <balance>471849.26000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4647715.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Poland Government International Bonds</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland Government International Bonds</title>
        <cusip>731011AX0</cusip>
        <identifiers>
          <isin value="US731011AX08"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201504.00000000</valUSD>
        <pctVal>0.174841937719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</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>PUBLIC SERVICE ENTERPRIS</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group, Inc.</title>
        <cusip>744573BA3</cusip>
        <identifiers>
          <isin value="US744573BA31"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100828.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QATAR ENERGY</name>
        <lei>254900QTESJKJ3P87J26</lei>
        <title>QatarEnergy</title>
        <cusip>746970AA0</cusip>
        <identifiers>
          <isin value="US746970AA02"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198779.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>QA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</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>STATE OF QATAR</name>
        <lei>52990074F6OJOAXK4P65</lei>
        <title>Qatar Government International Bonds</title>
        <cusip>74738PCQ9</cusip>
        <identifiers>
          <isin value="US74738PCQ90"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301611.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>QA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Residential Accredit Loans, Inc.</name>
        <lei>N/A</lei>
        <title>RALI Trust</title>
        <cusip>749236AC9</cusip>
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          <isin value="US749236AC95"/>
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        <balance>321434.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210947.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Variable</couponKind>
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          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Residential Asset Securities Corporation</name>
        <lei>N/A</lei>
        <title>Residential Asset Securities Corporation Trust</title>
        <cusip>74924QAD2</cusip>
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          <isin value="US74924QAD25"/>
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        <balance>837440.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>762408.01000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.28000000</annualizedRt>
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      <invstOrSec>
        <name>RD MICHIGAN PROP OWNER I</name>
        <lei>N/A</lei>
        <title>Road Michigan Property Owner I LLC</title>
        <cusip>74941YAA0</cusip>
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          <isin value="US74941YAA01"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LifePoint Health Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health, Inc.</title>
        <cusip>75915TAL6</cusip>
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          <isin value="US75915TAL61"/>
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        <balance>98253.92000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96682.35000000</valUSD>
        <pctVal>0.083889795822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.18000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>Residential Asset Securitization Trust</title>
        <cusip>76114QAA3</cusip>
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          <isin value="US76114QAA31"/>
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        <balance>191419.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65595.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rogers Communications Inc</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications, Inc.</title>
        <cusip>77511MH61</cusip>
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          <isin value="US77511MH616"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>298739.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>Romark CLO Ltd</name>
        <lei>549300HD9K8XL8QM2Z46</lei>
        <title>Romark CLO - IV Ltd.</title>
        <cusip>77588LAN1</cusip>
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          <isin value="US77588LAN10"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500548.36000000</valUSD>
        <pctVal>0.434318153411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ross Stores Inc</name>
        <lei>549300ENZFLPGRDFZQ60</lei>
        <title>Ross Stores, Inc.</title>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212850.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ROYAL CARIBBEAN CRUISES</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional U.S. Government Money Market Fund</title>
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          <isin value="US8574927062"/>
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        <balance>183788.79000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SG Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>SG Mortgage Securities Trust</title>
        <cusip>78420MAF6</cusip>
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          <isin value="US78420MAF68"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANDS CHINA LTD</name>
        <lei>549300EVO6UZDGY05787</lei>
        <title>Sands China Ltd.</title>
        <cusip>80007RAL9</cusip>
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          <isin value="US80007RAL96"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193996.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-18</maturityDt>
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      <invstOrSec>
        <name>SANTANDER UK GROUP HLDGS</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander U.K. Group Holdings PLC</title>
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        <balance>650000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.82000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Saxon Asset Securities Trust</name>
        <lei>N/A</lei>
        <title>Saxon Asset Securities Trust</title>
        <cusip>80557BAA2</cusip>
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          <isin value="US80557BAA26"/>
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        <balance>126829.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123409.58000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.07000000</annualizedRt>
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      <invstOrSec>
        <name>Shackleton CLO LTD</name>
        <lei>549300HOHPZON6E4VH77</lei>
        <title>Shackleton CLO Ltd.</title>
        <cusip>81880XAW2</cusip>
        <identifiers>
          <isin value="US81880XAW20"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500557.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
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      <invstOrSec>
        <name>Sierra Madre Funding Ltd</name>
        <lei>549300B6LY40X183EI41</lei>
        <title>Sierra Madre Funding Ltd.</title>
        <cusip>82639RAA5</cusip>
        <identifiers>
          <isin value="US82639RAA59"/>
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        <balance>574099.21000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297214.03000000</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>2039-09-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.13000000</annualizedRt>
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      <invstOrSec>
        <name>Soundview Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>Soundview Home Loan Trust</title>
        <cusip>83612TAA0</cusip>
        <identifiers>
          <isin value="US83612TAA07"/>
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        <balance>424979.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302392.96000000</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>2037-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.96000000</annualizedRt>
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      <invstOrSec>
        <name>Republic of South Africa Government International Bonds</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa Government International Bonds</title>
        <cusip>836205BA1</cusip>
        <identifiers>
          <isin value="US836205BA15"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>397322.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTHERN CAL EDISON</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
        <cusip>842400JC8</cusip>
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          <isin value="US842400JC81"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151611.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <name>SOUTHERN CALIF GAS CO</name>
        <lei>XY0N0J73VHV5F4CUJV89</lei>
        <title>Southern California Gas Co.</title>
        <cusip>842434CW0</cusip>
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          <isin value="US842434CW01"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>198040.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <name>STARWOOD PROPERTY TRUST</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>Starwood Property Trust, Inc.</title>
        <cusip>85571BBE4</cusip>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51185.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86359LPD5</cusip>
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          <isin value="US86359LPD54"/>
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        <balance>11671.31000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10989.82000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINL GRP</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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          <isin value="US86562MCJ71"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175157.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.22000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ABF1</cusip>
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          <isin value="US87264ABF12"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96919.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.88000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMISHO AIR LEASE CORP</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Sumisho Air Lease Corp.</title>
        <cusip>873923AE6</cusip>
        <identifiers>
          <isin value="US873923AE65"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>98982.71000000</valUSD>
        <pctVal>0.085885782997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</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>Triton Container International Ltd / TAL International Container Corp</name>
        <lei>N/A</lei>
        <title>Triton Container International Ltd./TAL International Container Corp.</title>
        <cusip>89679YGU6</cusip>
        <identifiers>
          <isin value="US89679YGU64"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249158.28000000</valUSD>
        <pctVal>0.216190827349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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 AIR 2020-1 A PTT</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust</title>
        <cusip>90931GAA7</cusip>
        <identifiers>
          <isin value="US90931GAA76"/>
        </identifiers>
        <balance>62230.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62998.07000000</valUSD>
        <pctVal>0.054662461446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.88000000</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>Mexico Government International Bonds</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexico Government International Bonds</title>
        <cusip>91087BAU4</cusip>
        <identifiers>
          <isin value="US91087BAU44"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201910.00000000</valUSD>
        <pctVal>0.175194217707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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 Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Indexed Notes</title>
        <cusip>91282CEZ0</cusip>
        <identifiers>
          <isin value="US91282CEZ05"/>
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        <balance>2750064.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2547696.28000000</valUSD>
        <pctVal>2.210597081532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.63000000</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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Indexed Notes</title>
        <cusip>91282CGK1</cusip>
        <identifiers>
          <isin value="US91282CGK18"/>
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        <balance>1900039.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1797767.46000000</valUSD>
        <pctVal>1.559895318585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.13000000</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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Indexed Notes</title>
        <cusip>91282CJY8</cusip>
        <identifiers>
          <isin value="US91282CJY84"/>
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        <balance>108307.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105852.81000000</valUSD>
        <pctVal>0.091846863652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Indexed Notes</title>
        <cusip>91282CLE9</cusip>
        <identifiers>
          <isin value="US91282CLE92"/>
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        <balance>2175070.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2144385.19000000</valUSD>
        <pctVal>1.860650219536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.88000000</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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CLW9</cusip>
        <identifiers>
          <isin value="US91282CLW90"/>
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        <balance>2100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2079697.26000000</valUSD>
        <pctVal>1.804521492423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CPZ8</cusip>
        <identifiers>
          <isin value="US91282CPZ85"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9757.81000000</valUSD>
        <pctVal>0.008466702439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.13000000</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>VICI PROPERTIES LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
        <cusip>925650AH6</cusip>
        <identifiers>
          <isin value="US925650AH69"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99589.57000000</valUSD>
        <pctVal>0.086412346134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</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>VICI PROPERTIES LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
        <cusip>925650AJ2</cusip>
        <identifiers>
          <isin value="US925650AJ26"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99947.89000000</valUSD>
        <pctVal>0.086723254916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIPER ENERGY PARTNERS LL</name>
        <lei>54930010ZZ02MRGRI973</lei>
        <title>Viper Energy Partners LLC</title>
        <cusip>92764MAA2</cusip>
        <identifiers>
          <isin value="US92764MAA27"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99721.85000000</valUSD>
        <pctVal>0.086527123466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIPER ENERGY PARTNERS LL</name>
        <lei>54930010ZZ02MRGRI973</lei>
        <title>Viper Energy Partners LLC</title>
        <cusip>92764MAB0</cusip>
        <identifiers>
          <isin value="US92764MAB00"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101643.00000000</valUSD>
        <pctVal>0.088194075927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VISTRA OPERATIONS CO LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
        <cusip>92840VAY8</cusip>
        <identifiers>
          <isin value="US92840VAY83"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98140.65000000</valUSD>
        <pctVal>0.085155140419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VISTAJET MALTA/VM HOLDS</name>
        <lei>N/A</lei>
        <title>VistaJet Malta Finance PLC/Vista Management Holding, Inc.</title>
        <cusip>92841HAB8</cusip>
        <identifiers>
          <isin value="US92841HAB87"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99143.96000000</valUSD>
        <pctVal>0.086025697155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VMED O2 UK FINANCING I</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 U.K. Financing I PLC</title>
        <cusip>92858RAD2</cusip>
        <identifiers>
          <isin value="US92858RAD26"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180878.20000000</valUSD>
        <pctVal>0.156945246641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VMED O2 UK FINANCING I</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 U.K. Financing I PLC</title>
        <cusip>92858RAE0</cusip>
        <identifiers>
          <isin value="US92858RAE09"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>169526.20000000</valUSD>
        <pctVal>0.147095289931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>VOLKSWAGEN GROUP AMERICA</name>
        <lei>5493002SQ1AVQBY41K40</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WAMU Mortgage Pass-Through Certificates</name>
        <lei>N/A</lei>
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          <isin value="US933634AC10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WAMU Asset-Backed Certificates</name>
        <lei>N/A</lei>
        <title>WaMu Asset-Backed Certificates Trust</title>
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          <isin value="US93364EAA29"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WAMU Mortgage Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>WaMu Mortgage Pass-Through Certificates Trust</title>
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          <isin value="US9393357P40"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U2V48"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CS AT1 CLAIMS US225401AR98</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse AG AT1 Claim</title>
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          <other otherDesc="Internal Identifier" value="CSAT10019"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CS AT1 CLAIMS US225401AL29</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse AG AT1 Claim</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>PROJECT CASHMERE CLASS A1 144A</name>
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        <title>Project Cashmere</title>
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          <other otherDesc="Internal Identifier" value="CX4TKL919"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>Colombia TES</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>Colombia TES</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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        <name>Deutsche Bank Securities, Inc.</name>
        <lei>9J6MBOOO7BECTDTUZW19</lei>
        <title>Repurchase Agreements</title>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
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        <title>Republic of South Africa Government Bonds</title>
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          <isin value="ZAG000107012"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
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        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
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        <assetCat>EC</assetCat>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa Government Bonds</title>
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          <isin value="ZAG000107004"/>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa Government Bonds</title>
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        <invCountry>ZA</invCountry>
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        <name>NORTHUMBRIAN WATER FIN</name>
        <lei>213800JTFA6F3S7XX781</lei>
        <title>Northumbrian Water Finance PLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTESA SANPAOLO SPA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1548475968"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>233920.48000000</valUSD>
        <pctVal>0.202969221432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SW (FINANCE) I PLC</name>
        <lei>549300BHN1HB5BNG2R96</lei>
        <title>SW Finance I PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2180916525"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>125016.06000000</valUSD>
        <pctVal>0.108474522473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.38000000</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>CIMA FINANCE LTD</name>
        <lei>213800AALTMFR1SJLJ51</lei>
        <title>CIMA Finance DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2244822560"/>
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        <balance>126638.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120435.80000000</valUSD>
        <pctVal>0.104500300951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DWR CYMRU FINANCING UK</name>
        <lei>213800GDOFO2ED5PNC85</lei>
        <title>DWR Cymru Financing U.K. PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2328412064"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>203523.86000000</valUSD>
        <pctVal>0.176594539337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.38000000</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>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2364199674"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>207628.68000000</valUSD>
        <pctVal>0.180156228846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRIFOLS SA</name>
        <lei>959800HSSNXWRKBK4N60</lei>
        <title>Grifols SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2393001891"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>227223.03000000</valUSD>
        <pctVal>0.197157946540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.88000000</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>Harvest CLO</name>
        <lei>635400MYQ7BBH2H3RR48</lei>
        <title>Harvest CLO XXII DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2395965416"/>
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        <balance>285581.46000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>326431.24000000</valUSD>
        <pctVal>0.283239392438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.05000000</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>Aurium CLO</name>
        <lei>549300LCZQMYMASRK585</lei>
        <title>Aurium CLO IV DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2404260213"/>
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        <balance>123279.24000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>141033.95000000</valUSD>
        <pctVal>0.122373000547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.97000000</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>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="COL17CT03862"/>
        </identifiers>
        <balance>626000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="COP" exchangeRt="3418.22000000"/>
        <valUSD>193260.02000000</valUSD>
        <pctVal>0.167688762409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>13.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>YORKSHIRE WATER FINANCE</name>
        <lei>213800O8BDOGHJMTCP32</lei>
        <title>Yorkshire Water Finance PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2591021113"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>264161.68000000</valUSD>
        <pctVal>0.229209047972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BONOS DE TESORERIA</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Peru Government Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PEP01000C5I0"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="PEN" exchangeRt="3.41800000"/>
        <valUSD>852142.77000000</valUSD>
        <pctVal>0.739391243453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EPH FIN INTERNATIONAL AS</name>
        <lei>3157003E5A4ZV0JCSM65</lei>
        <title>EPH Financing International AS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2716891440"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>121431.61000000</valUSD>
        <pctVal>0.105364350051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATHENE GLOBAL FUNDING</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2757986224"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>114489.30000000</valUSD>
        <pctVal>0.099340613884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.20000000</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>HEATHROW FUNDING LTD</name>
        <lei>7TI96JO3DYEIQWZ7Z726</lei>
        <title>Heathrow Funding Ltd.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2777627907"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>134493.85000000</valUSD>
        <pctVal>0.116698255843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOODMAN AUSTRALIA FIN</name>
        <lei>213800AQVHS7SCC93B80</lei>
        <title>Goodman Australia Finance Pty. Ltd.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2806377268"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>117474.68000000</valUSD>
        <pctVal>0.101930982433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLORA FOOD MANAGEMENT BV</name>
        <lei>2549002VGA888UKFKS25</lei>
        <title>Flora Food Management BV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2849520908"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>223550.41000000</valUSD>
        <pctVal>0.193971270359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.88000000</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>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="COL17CT03938"/>
        </identifiers>
        <balance>265500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="COP" exchangeRt="3418.22000000"/>
        <valUSD>75356.60000000</valUSD>
        <pctVal>0.065385768838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LETRA TESOURO NACIONAL</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Brazil Letras do Tesouro Nacional</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BRSTNCLTN8G4"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP1300851R17"/>
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        <balance>80000000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.59500000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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      <invstOrSec>
        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="JP1201911R15"/>
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        <balance>110000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
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          <isin value="COL17CT04001"/>
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        <balance>724000000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-28</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
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        <cusip>000000000</cusip>
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          <isin value="COL17CT03995"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-22</maturityDt>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CO</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3015761458"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.43000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLUTTER TREASURY DAC</name>
        <lei>635400JE8VLL9UFVIC38</lei>
        <title>Flutter Treasury DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3049815981"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Carlyle Global Market Strategies Euro</name>
        <lei>549300FXUEBDC9W0YX16</lei>
        <title>Carlyle Euro CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3065225669"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.49000000</annualizedRt>
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      <invstOrSec>
        <name>BONOS DE TESORERIA</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Peru Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="PEP01000C5K6"/>
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        <balance>400000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.85000000</annualizedRt>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
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          <isin value="COL17CT04084"/>
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        <balance>2823800000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANGLIAN WATER OSPREY FIN</name>
        <lei>21380072JDZ74GW9ZY87</lei>
        <title>Anglian Water Osprey Financing PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3165250245"/>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-27</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
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          <isin value="COL17CT04035"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>PROLOGIS EURO FINANCE</name>
        <lei>549300MI5D1784PRQH06</lei>
        <title>Prologis Euro Finance LLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3186907823"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-22</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>Republic of South Africa Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="ZAG000219478"/>
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        <balance>1500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.88000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>KOREA HOUSING FINANCE CO</name>
        <lei>9884002AAOBT56QW9B80</lei>
        <title>Korea Housing Finance Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3188749488"/>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>SW (FINANCE) I PLC</name>
        <lei>549300BHN1HB5BNG2R96</lei>
        <title>SW Finance I PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3232877590"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cordatus CLO PLC</name>
        <lei>635400LAN4VXPJEK9R11</lei>
        <title>CVC Cordatus Loan Fund XII DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3244866821"/>
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        <balance>500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>572143.59000000</valUSD>
        <pctVal>0.496440239050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.29000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CI FINANCIAL CORP</name>
        <lei>549300M9W7JJQSVCEM78</lei>
        <title>CI Financial Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3249796890"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <name>Toro European CLO</name>
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        <name>WP CAREY INC</name>
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        <name>GSG BIDCO LTD</name>
        <lei>984500F49D98F3GDZ668</lei>
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        <name>ABU DHABI GOVT INT'L</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IHO VERWALTUNGS GMBH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QNB FINANCE LTD</name>
        <lei>549300MY0DXTHQEX5O57</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LOTTOMATICA GROUP SPA</name>
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        <name>COSTA RICA GOVERNMENT</name>
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        <name>MORGAN STANLEY</name>
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        <name>Chicago Mercantile Exchange</name>
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        <name>ICE Futures Europe - Financial Products Division</name>
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        <name>ICE Futures Europe - Financial Products Division</name>
        <lei>549300UF4R84F48NCH34</lei>
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        <name>Eurex Deutschland</name>
        <lei>529900LN3S50JPU47S06</lei>
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        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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            <delta>XXXX</delta>
            <unrealizedAppr>392.70000000</unrealizedAppr>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
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        <invCountry>ZA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ineos US Finance LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Virgin Media Bristol LLC</name>
        <lei>213800IQ982XX69LE276</lei>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <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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      <invstOrSec>
        <name>Morgan Stanley Capital Services LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase Bank NA</name>
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        <identifiers>
          <other otherDesc="Internal Identifier" value="317UAHOA6"/>
        </identifiers>
        <balance>6600000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>24672.12000000</valUSD>
        <pctVal>0.021407621032</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>Deutsche Bank AG</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <swapDeriv derivCat="SWP">
                  <counterparties>
                    <counterpartyName>Deutsche Bank AG</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>Deutsche Bank AG</name>
                    <lei>7LTWFZYICNSX8D621K86</lei>
                    <title>IRS Swap</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004JM42E"/>
                    </identifiers>
                    <balance>6600000.00000000</balance>
                    <units>OU</units>
                    <descOthUnits>Notional Amount</descOthUnits>
                    <curCd>N/A</curCd>
                    <valUSD>24672.12000000</valUSD>
                    <pctVal>0.02000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>N/A</issuerName>
                      <issueTitle>N/A</issueTitle>
                      <identifiers>
                        <other otherDesc="N/A" value="N/A"/>
                      </identifiers>
                    </otherRefInst>
                  </descRefInstrmnt>
                  <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Secured Overnight Financing Rate Index" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
                    <rtResetTenors>
                      <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Month" resetDtUnit="12"/>
                    </rtResetTenors>
                  </floatingRecDesc>
                  <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.76000000"/>
                  <terminationDt>2027-09-22</terminationDt>
                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>N/A</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>N/A</rcptCurCd>
                  <notionalAmt>6600000.00000000</notionalAmt>
                  <curCd>USD</curCd>
                </swapDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>3.75700000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-09-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>19276.62000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nomura Global Financial Products, Inc.</name>
        <lei>0Z3VO5H2G7GRS05BHJ91</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="317UAI6A4"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>373.82000000</valUSD>
        <pctVal>0.000324357894</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>Nomura Global Financial Products, Inc.</counterpartyName>
              <counterpartyLei>0Z3VO5H2G7GRS05BHJ91</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <swapDeriv derivCat="SWP">
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                    <counterpartyName>Nomura Global Financial Products, Inc.</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>Nomura Global Financial Products, Inc.</name>
                    <lei>0Z3VO5H2G7GRS05BHJ91</lei>
                    <title>IRS Swap</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004JPR8E"/>
                    </identifiers>
                    <balance>100000.00000000</balance>
                    <units>OU</units>
                    <descOthUnits>Notional Amount</descOthUnits>
                    <curCd>N/A</curCd>
                    <valUSD>373.82000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>N/A</issuerName>
                      <issueTitle>N/A</issueTitle>
                      <identifiers>
                        <other otherDesc="N/A" value="N/A"/>
                      </identifiers>
                    </otherRefInst>
                  </descRefInstrmnt>
                  <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Secured Overnight Financing Rate Index" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
                    <rtResetTenors>
                      <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Month" resetDtUnit="12"/>
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                  <terminationDt>2027-09-22</terminationDt>
                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>N/A</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
                  <rcptCurCd>N/A</rcptCurCd>
                  <notionalAmt>100000.00000000</notionalAmt>
                  <curCd>USD</curCd>
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              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>3.75700000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-09-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>292.82000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>31750SBA2 PIMCO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SBA2"/>
        </identifiers>
        <balance>163580.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>0.16000000</valUSD>
        <pctVal>0.000000138829</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Bank of America NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <fwdDeriv derivCat="FWD">
                  <counterparties>
                    <counterpartyName>Bank of America NA</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>Bank of America NA</name>
                    <lei>B4TYDEB6GKMZO031MB27</lei>
                    <title>FX Contract</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004RW50E"/>
                    </identifiers>
                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.16000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <amtCurSold>229012000.00000000</amtCurSold>
                  <curSold>KRW</curSold>
                  <amtCurPur>163580.00000000</amtCurPur>
                  <curPur>USD</curPur>
                  <settlementDt>2026-07-09</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1400.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1658.93000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>31750SBB0 PIMCO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SBB0"/>
        </identifiers>
        <balance>-163580.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-0.16000000</valUSD>
        <pctVal>-0.00000013882</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Bank of America NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <fwdDeriv derivCat="FWD">
                  <counterparties>
                    <counterpartyName>Bank of America NA</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>Bank of America NA</name>
                    <lei>B4TYDEB6GKMZO031MB27</lei>
                    <title>FX Contract</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004RW68E"/>
                    </identifiers>
                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>-0.16000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>KR</invCountry>
                  </derivAddlInfo>
                  <amtCurSold>-163580.00000000</amtCurSold>
                  <curSold>USD</curSold>
                  <amtCurPur>-220833000.00000000</amtCurPur>
                  <curPur>KRW</curPur>
                  <settlementDt>2026-07-09</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1350.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>582.48000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>31750SCK9 PIMCO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SCK9"/>
        </identifiers>
        <balance>-136420.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-0.14000000</valUSD>
        <pctVal>-0.00000012147</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Bank of America NA</counterpartyName>
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            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <fwdDeriv derivCat="FWD">
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                    <counterpartyName>Bank of America NA</counterpartyName>
                    <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>Bank of America NA</name>
                    <lei>B4TYDEB6GKMZO031MB27</lei>
                    <title>FX Contract</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004S5W9E"/>
                    </identifiers>
                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>-0.14000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>KR</invCountry>
                  </derivAddlInfo>
                  <amtCurSold>-136420.00000000</amtCurSold>
                  <curSold>USD</curSold>
                  <amtCurPur>-184167000.00000000</amtCurPur>
                  <curPur>KRW</curPur>
                  <settlementDt>2026-07-13</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1350.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>297.66000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>31750SCJ2 PIMCO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SCJ2"/>
        </identifiers>
        <balance>136420.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>0.14000000</valUSD>
        <pctVal>0.000000121475</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Bank of America NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
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                    <counterpartyName>Bank of America NA</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>Bank of America NA</name>
                    <lei>B4TYDEB6GKMZO031MB27</lei>
                    <title>FX Contract</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004S632E"/>
                    </identifiers>
                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.14000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <amtCurSold>190988000.00000000</amtCurSold>
                  <curSold>KRW</curSold>
                  <amtCurPur>136420.00000000</amtCurPur>
                  <curPur>USD</curPur>
                  <settlementDt>2026-07-13</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1400.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-932.70000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>31750SV36 PIMCO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SV36"/>
        </identifiers>
        <balance>-130000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>-1103.93000000</valUSD>
        <pctVal>-0.00095786317</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
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            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>UBS AG</name>
                    <lei>BFM8T61CT2L1QCEMIK50</lei>
                    <title>FX Contract</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP0051DM0E"/>
                    </identifiers>
                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>-1103.93000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DFE</assetCat>
                    <issuerConditional desc="derivative" issuerCat="OTHER"/>
                    <invCountry>HU</invCountry>
                  </derivAddlInfo>
                  <amtCurSold>-130000.00000000</amtCurSold>
                  <curSold>EUR</curSold>
                  <amtCurPur>-48750000.00000000</amtCurPur>
                  <curPur>HUF</curPur>
                  <settlementDt>2026-11-10</settlementDt>
                </fwdDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>375.00000000</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2026-11-10</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>958.25000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>317UCWEA2 PIMCO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="317UCWEA2"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>8042.75000000</valUSD>
        <pctVal>0.006978571118</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>Deutsche Bank AG</counterpartyName>
              <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                    <counterpartyName>Deutsche Bank AG</counterpartyName>
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                  <derivAddlInfo>
                    <name>Deutsche Bank AG</name>
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                      <other otherDesc="Internal Identifier" value="OP0052VW6E"/>
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                  <notionalAmt>2500000.00000000</notionalAmt>
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              </nestedDerivInfo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-169.75000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Bank NA</name>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>Morgan Stanley Bank NA</counterpartyName>
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                  <derivAddlInfo>
                    <name>Morgan Stanley Bank NA</name>
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                      <other otherDesc="Internal Identifier" value="OP0052W05E"/>
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                    <invCountry>US</invCountry>
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            <shareNo>1.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-9.03000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <identifiers>
          <other otherDesc="Internal Identifier" value="317UCWTA6"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>644.50000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BNP Paribas SA</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
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                  <derivAddlInfo>
                    <name>BNP Paribas SA</name>
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                    <descOthUnits>Notional Amount</descOthUnits>
                    <curCd>N/A</curCd>
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                    <assetCat>DIR</assetCat>
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                    <invCountry>US</invCountry>
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                  <descRefInstrmnt>
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                  <upfrontPmnt>0.00000000</upfrontPmnt>
                  <pmntCurCd>N/A</pmntCurCd>
                  <upfrontRcpt>0.00000000</upfrontRcpt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-780.50000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Global Markets Ltd.</name>
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        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SZL2"/>
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        <balance>-600000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-364.08000000</valUSD>
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        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Citigroup Global Markets Ltd.</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                <issuerName>Uniform Mortgage-Backed Security, TBA</issuerName>
                <issueTitle>Uniform Mortgage-Backed Security, TBA</issueTitle>
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                  <isin value="US01F0406854"/>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>95.51562500</exercisePrice>
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            <expDt>2026-08-06</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1018.73000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs &amp; Co. LLC</name>
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        <balance>-600000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-426.24000000</valUSD>
        <pctVal>-0.00036984192</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <writtenOrPur>Written</writtenOrPur>
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                  <isin value="US01F0406854"/>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>95.38281250</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-08-06</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>815.95000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Bank NA</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
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        <identifiers>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>823.05000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                  <derivAddlInfo>
                    <name>Morgan Stanley Bank NA</name>
                    <lei>G1MLHIS0N32I3QPILB75</lei>
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            <unrealizedAppr>-526.95000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
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      <invstOrSec>
        <name>Bank of America NA</name>
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            <delta>XXXX</delta>
            <unrealizedAppr>-322.92000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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      <invstOrSec>
        <name>Goldman Sachs &amp; Co. LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS AG</name>
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        <name>Citibank NA</name>
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        <name>Intercontinental Exchange, Inc.</name>
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        <name>Intercontinental Exchange, Inc.</name>
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        <name>LCH Ltd.</name>
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        <name>LCH Ltd.</name>
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        <name>Chicago Mercantile Exchange</name>
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        <name>BNP Paribas SA</name>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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              <counterpartyName>BNP Paribas SA</counterpartyName>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>ROST US TRS EQUITY SOFR+96 BPS</title>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IRS CZK 4.37500 07/01/31-5Y CME</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="SWU02QE52"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <currencyConditional curCd="CZK" exchangeRt="21.24235000"/>
        <valUSD>14.80000000</valUSD>
        <pctVal>0.000012841733</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <other otherDesc="N/A" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="CZK" fixedOrFloating="Fixed" fixedRt="4.38000000"/>
            <floatingPmntDesc curCd="CZK" fixedOrFloating="Floating" floatingRtIndex="6 mo. CZK PRIBOR" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="6" resetDt="Month" resetDtUnit="6"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2036-07-01</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>CZK</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>CZK</rcptCurCd>
            <notionalAmt>300000.00000000</notionalAmt>
            <curCd>CZK</curCd>
            <unrealizedAppr>14.80000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IRS PLN 4.66500 07/01/31-5Y CME</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="SWU02QE60"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <currencyConditional curCd="PLN" exchangeRt="3.76180000"/>
        <valUSD>-15.67000000</valUSD>
        <pctVal>-0.00001359661</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <other otherDesc="N/A" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="PLN" fixedOrFloating="Floating" floatingRtIndex="6 mo. PLN WIBOR" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="6" resetDt="Month" resetDtUnit="6"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="PLN" fixedOrFloating="Fixed" fixedRt="4.67000000"/>
            <terminationDt>2036-07-01</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>PLN</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>PLN</rcptCurCd>
            <notionalAmt>50000.00000000</notionalAmt>
            <curCd>PLN</curCd>
            <unrealizedAppr>-15.67000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <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="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="Please see notes to financial statements or N-PORT part F for a glossary of swap paid and received terms." noteItem="C.11.a"/>
      <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"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-03</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
