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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vornado Realty LP</name>
        <lei>549300BMOJ05INE4YK86</lei>
        <title>Vornado Realty LP</title>
        <cusip>929043AN7</cusip>
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          <isin value="US929043AN77"/>
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        <balance>32306000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32675314.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>213800TFYSB4XLW7QW74</lei>
        <title>New Residential Mortgage Loan Trust, Series 2024-NQM1, Class A1</title>
        <cusip>64828DAA5</cusip>
        <identifiers>
          <isin value="US64828DAA54"/>
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        <balance>16771758.04000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16953007.07000000</valUSD>
        <pctVal>0.212369347111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.12900000</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>ARI Fleet Lease Trust</name>
        <lei>N/A</lei>
        <title>ARI Fleet Lease Trust, Series 2026-A, Class A2</title>
        <cusip>04033DAB0</cusip>
        <identifiers>
          <isin value="US04033DAB01"/>
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        <balance>5359000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5363118.39000000</valUSD>
        <pctVal>0.067183476433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.96000000</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>Consumers 2023 Securitization Funding LLC</name>
        <lei>N/A</lei>
        <title>Consumers 2023 Securitization Funding LLC, Series A1</title>
        <cusip>21071BAA3</cusip>
        <identifiers>
          <isin value="US21071BAA35"/>
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        <balance>3984877.80580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4021218.30000000</valUSD>
        <pctVal>0.050373570979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</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 of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TS7</cusip>
        <identifiers>
          <isin value="US912810TS78"/>
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        <balance>11500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10281269.56000000</valUSD>
        <pctVal>0.128792874026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MF1 LLC</name>
        <lei>N/A</lei>
        <title>MF1 LLC, Series 2024-FL14, Class B</title>
        <cusip>55416AAE9</cusip>
        <identifiers>
          <isin value="US55416AAE91"/>
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        <balance>8208757.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8224427.52000000</valUSD>
        <pctVal>0.103026931775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.36436080</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>Northwoods Capital XIV-B Ltd.</name>
        <lei>549300QQDSTCZ860F679</lei>
        <title>Northwoods Capital XIV-B Ltd., Series 2018-14BA, Class BR</title>
        <cusip>66860CAN3</cusip>
        <identifiers>
          <isin value="US66860CAN39"/>
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        <balance>31844327.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31863274.37000000</valUSD>
        <pctVal>0.399149410299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.69094120</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>LLC</name>
        <lei>N/A</lei>
        <title>LLC, Series 2025-FL17, Class C</title>
        <cusip>55287HAG5</cusip>
        <identifiers>
          <isin value="US55287HAG56"/>
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        <balance>23122222.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23134823.61000000</valUSD>
        <pctVal>0.289808608308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.76735840</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>Arbor Realty Commercial Real Estate Notes Ltd.</name>
        <lei>N/A</lei>
        <title>Arbor Realty Commercial Real Estate Notes Ltd., Series 2021-FL4, Class C</title>
        <cusip>03880RAG4</cusip>
        <identifiers>
          <isin value="US03880RAG48"/>
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        <balance>1124000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1124101.72000000</valUSD>
        <pctVal>0.014081557765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.09467040</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 of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TL2</cusip>
        <identifiers>
          <isin value="US912810TL26"/>
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        <balance>43474000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37531987.16000000</valUSD>
        <pctVal>0.470161050252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Adventist Health System</name>
        <lei>5493008YM33UCY5QPW83</lei>
        <title>Adventist Health System</title>
        <cusip>007944AH4</cusip>
        <identifiers>
          <isin value="US007944AH47"/>
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        <balance>5185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5306793.58000000</valUSD>
        <pctVal>0.066477898769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>5.43000000</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>PMT Loan Trust</name>
        <lei>N/A</lei>
        <title>PMT Loan Trust, Series 2025-INV4, Class A9</title>
        <cusip>73015DAJ0</cusip>
        <identifiers>
          <isin value="US73015DAJ00"/>
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        <balance>19377161.53000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19476744.64000000</valUSD>
        <pctVal>0.243984062884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526CP2</cusip>
        <identifiers>
          <isin value="US251526CP29"/>
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        <balance>2217000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2185748.24000000</valUSD>
        <pctVal>0.027380742824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.31100000</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>KKR Static CLO I Ltd.</name>
        <lei>N/A</lei>
        <title>KKR Static CLO I Ltd., Series 2022-1A, Class CR2</title>
        <cusip>48255QAY9</cusip>
        <identifiers>
          <isin value="US48255QAY98"/>
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        <balance>17500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17355135.00000000</valUSD>
        <pctVal>0.217406780623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.26763160</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K114, Class X1</title>
        <cusip>3137FVNJ7</cusip>
        <identifiers>
          <isin value="US3137FVNJ75"/>
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        <balance>31689209.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1305481.34000000</valUSD>
        <pctVal>0.016353689861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.10961360</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>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
        <cusip>92857WBY5</cusip>
        <identifiers>
          <isin value="US92857WBY57"/>
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        <balance>7731000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7443663.01000000</valUSD>
        <pctVal>0.093246339544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAJ0</cusip>
        <identifiers>
          <isin value="US05401AAJ07"/>
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        <balance>2342000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2319369.72000000</valUSD>
        <pctVal>0.029054611439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U3E14"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-25</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CMZ13"/>
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        <balance>33000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33165000.00000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
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      <invstOrSec>
        <name>JH North America Holdings, Inc.</name>
        <lei>254900A6FXA0D81TL967</lei>
        <title>JH North America Holdings, Inc.</title>
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          <isin value="US46593WAB19"/>
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        <balance>16455000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
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          <isin value="US161175BA14"/>
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        <curCd>USD</curCd>
        <valUSD>9411792.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.48400000</annualizedRt>
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        <name>MF1 LLC</name>
        <lei>N/A</lei>
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          <isin value="US55416AAJ88"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6512506.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-03-19</maturityDt>
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      <invstOrSec>
        <name>Macquarie Group Ltd.</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd.</title>
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          <isin value="US55608JBE73"/>
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        <balance>8358000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-21</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Virginia Power Fuel Securitization LLC</name>
        <lei>254900BELJ95ONW6U791</lei>
        <title>Virginia Power Fuel Securitization LLC, Series A-1</title>
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          <isin value="US92808VAA08"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</maturityDt>
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          <annualizedRt>5.08800000</annualizedRt>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
        <cusip>694308KM8</cusip>
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          <isin value="US694308KM84"/>
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        <balance>4021000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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      <invstOrSec>
        <name>Alimentation Couche-Tard, Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard, Inc.</title>
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        <balance>25000000.00000000</balance>
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        <valUSD>25474061.50000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-12</maturityDt>
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          <annualizedRt>5.26700000</annualizedRt>
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      <invstOrSec>
        <name>OCP SA</name>
        <lei>213800D26TAPVTCVWG40</lei>
        <title>OCP SA</title>
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        <curCd>USD</curCd>
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        <invCountry>MA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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        <name>PFP Ltd.</name>
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        <title>PFP Ltd., Series 2026-13, Class B</title>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>AREIT LLC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <name>Alimentation Couche-Tard, Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc., Series II</title>
        <cusip>571903BH5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Dryden 113 CLO Ltd.</name>
        <lei>254900XN9Y85HJGYJ219</lei>
        <title>Dryden 113 CLO Ltd., Series 2022-113A, Class BR3</title>
        <cusip>26253EBM9</cusip>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.12219160</annualizedRt>
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      <invstOrSec>
        <name>Santos Finance Ltd.</name>
        <lei>213800BKUBSWG53XNS94</lei>
        <title>Santos Finance Ltd.</title>
        <cusip>803014AB5</cusip>
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          <isin value="US803014AB57"/>
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        <balance>34136000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37395544.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DB2</cusip>
        <identifiers>
          <isin value="US718172DB29"/>
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        <name>Nippon Life Insurance Co.</name>
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        <name>Dryden 49 Senior Loan Fund</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>MetLife, Inc.</name>
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        <name>Regions Financial Corp.</name>
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        <name>Yinson Bergenia Production BV</name>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <name>Six Flags Entertainment Corp.</name>
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        <name>Deutsche Bank AG</name>
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        <name>Northern Star Resources Ltd.</name>
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        <name>HUB International Ltd.</name>
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        <name>Nomura Holdings, Inc.</name>
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        <name>MF1 LLC</name>
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        <name>Voya CLO Ltd.</name>
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        <name>Provident Funding Mortgage Trust</name>
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        <name>UBS Group AG</name>
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        <name>Oklahoma Development Finance Authority</name>
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        <name>Boston Properties LP</name>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Boston Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LoanCore Issuer Ltd.</name>
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          <isin value="US53947XAJ19"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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      <invstOrSec>
        <name>Taco Bell Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Octagon 57 Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <name>ELM Trust</name>
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        <name>Muthoot Finance Ltd.</name>
        <lei>335800HAMJMBFL4RRF02</lei>
        <title>Muthoot Finance Ltd.</title>
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      <invstOrSec>
        <name>CBRE Services, Inc.</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE Services, Inc.</title>
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        <name>BP Capital Markets plc</name>
        <lei>549300CRVT18MXX0AG93</lei>
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        <invCountry>GB</invCountry>

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        <name>Republic of Serbia</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Republic of Serbia</title>
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        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
        <cusip>808513CL7</cusip>
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        <name>MF1 LLC</name>
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        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
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        <name>Chemours Co. (The)</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Triton Container International Ltd.</name>
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        <name>Samarco Mineracao SA</name>
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        <name>Boston Gas Co.</name>
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        <name>Boston Properties LP</name>
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        <name>AutoNation, Inc.</name>
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        <name>BMP</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>OZLM XXI Ltd.</name>
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        <name>Eldorado Gold Corp.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>JBS NV</name>
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        <name>Panther Escrow Issuer LLC</name>
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        <name>PetSmart LLC</name>
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      <invstOrSec>
        <name>Empire District Bondco LLC</name>
        <lei>N/A</lei>
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        <name>Bombardier, Inc.</name>
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        <name>Affirm Master Trust</name>
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        <name>Republic of Colombia</name>
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        <name>Dwight Issuer LLC</name>
        <lei>N/A</lei>
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        <name>Acrec 2025 Fl LLC</name>
        <lei>N/A</lei>
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        <name>Village of Bridgeview IL</name>
        <lei>N/A</lei>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <name>BDS LLC</name>
        <lei>N/A</lei>
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        <cusip>072921AL3</cusip>
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        <balance>20000000.00000000</balance>
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          <maturityDt>2042-10-17</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>Japan Tobacco, Inc.</name>
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        <name>Federal Republic of Nigeria</name>
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        <name>STWD Ltd.</name>
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        <name>Targa Resources Partners LP</name>
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        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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        <name>Bank of America Corp.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Park Avenue Institutional Advisers CLO Ltd.</name>
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        <name>United States of America</name>
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        <name>Saavi Energia Sarl</name>
        <lei>254900A2V0IO8K56UH35</lei>
        <title>Saavi Energia Sarl</title>
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        <invCountry>LU</invCountry>

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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
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        <name>Romania</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government Bond</title>
        <cusip>77586RAX8</cusip>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Business Jet Securities LLC</name>
        <lei>N/A</lei>
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        <cusip>12327CAC8</cusip>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
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          <isin value="US91282CKX82"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LPL Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dwight Issuer LLC</name>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>American Credit Acceptance Receivables Trust</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Marble Point CLO XXII Ltd.</name>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Constellation Brands, Inc.</name>
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        <name>Deutsche Bank AG</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Patrick Industries, Inc.</name>
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        <title>Patrick Industries, Inc.</title>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <name>Escambia County Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>Escambia County Health Facilities Authority</title>
        <cusip>296110GG8</cusip>
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        <balance>1730000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-15</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>GoldenTree Loan Management US CLO 17 Ltd.</name>
        <lei>549300TS068SCJRDSP12</lei>
        <title>GoldenTree Loan Management US CLO 17 Ltd., Series 2023-17A, Class CR</title>
        <cusip>38139FAU4</cusip>
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          <isin value="US38139FAU49"/>
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        <balance>1650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1652301.75000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-01-20</maturityDt>
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          <annualizedRt>5.46762960</annualizedRt>
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      <invstOrSec>
        <name>nVent Finance SARL</name>
        <lei>549300KO1OQ4MVFB6X02</lei>
        <title>nVent Finance SARL</title>
        <cusip>67078AAF0</cusip>
        <identifiers>
          <isin value="US67078AAF03"/>
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        <balance>9324000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9722365.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>2549001QDCO9VU0HH514</lei>
        <title>OBX Trust, Series 2024-NQM3, Class A1</title>
        <cusip>67118KAA1</cusip>
        <identifiers>
          <isin value="US67118KAA16"/>
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        <balance>4286432.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4334073.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.12900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MF1 LLC</name>
        <lei>N/A</lei>
        <title>MF1 LLC, Series 2025-FL20, Class AS</title>
        <cusip>59319CAC9</cusip>
        <identifiers>
          <isin value="US59319CAC91"/>
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        <balance>15009000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15046560.02000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.37536160</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300FWFHJGIW2B2U59</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4</title>
        <cusip>95000DBD2</cusip>
        <identifiers>
          <isin value="US95000DBD21"/>
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        <balance>1740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1733472.22000000</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>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.09600000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Residential Mortgage Loan Trust, Series 2024-NQM1, Class A1</title>
        <cusip>61775UAA6</cusip>
        <identifiers>
          <isin value="US61775UAA60"/>
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        <balance>8887604.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8975829.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2068-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.15200040</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BSPRT Issuer LLC</name>
        <lei>N/A</lei>
        <title>BSPRT Issuer LLC, Series 2024-FL11, Class AS</title>
        <cusip>05613RAC2</cusip>
        <identifiers>
          <isin value="US05613RAC25"/>
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        <balance>14047000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14108464.05000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.77518840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
        <lei>549300BRUAMTEA33B077</lei>
        <title>Voya CLO Ltd., Series 2016-1A, Class A2R</title>
        <cusip>92915CAS3</cusip>
        <identifiers>
          <isin value="US92915CAS35"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1003139.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.22924120</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enel Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
        <cusip>29278GBA5</cusip>
        <identifiers>
          <isin value="US29278GBA58"/>
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        <balance>34169000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39282281.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613BE7</cusip>
        <identifiers>
          <isin value="US902613BE74"/>
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        <balance>7091000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8293489.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Trinitas CLO VI Ltd.</name>
        <lei>549300IUAXGLQ814UD95</lei>
        <title>Trinitas CLO VI Ltd., Series 2017-6A, Class C1R4</title>
        <cusip>89640YBU7</cusip>
        <identifiers>
          <isin value="US89640YBU73"/>
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        <balance>11414634.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11424827.27000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.66802000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TD0</cusip>
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          <isin value="US912810TD00"/>
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        <balance>162300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>98071042.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>MF1 LLC</name>
        <lei>N/A</lei>
        <title>MF1 LLC, Series 2022-FL10, Class B</title>
        <cusip>55285BAE5</cusip>
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          <isin value="US55285BAE56"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.40828160</annualizedRt>
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      <invstOrSec>
        <name>MAN US CLO Ltd.</name>
        <lei>254900N9T03W7ZI61W42</lei>
        <title>MAN US CLO Ltd., Series 2023-1A, Class B</title>
        <cusip>56166RAC6</cusip>
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          <isin value="US56166RAC60"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15047070.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.66762840</annualizedRt>
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      <invstOrSec>
        <name>Targa Resources Partners LP</name>
        <lei>N/A</lei>
        <title>Targa Resources Partners LP</title>
        <cusip>87612BBS0</cusip>
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          <isin value="US87612BBS07"/>
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        <balance>9038000.00000000</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>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Corebridge Financial, Inc.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial, Inc.</title>
        <cusip>21871XAK5</cusip>
        <identifiers>
          <isin value="US21871XAK54"/>
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        <balance>473000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>404531.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Business Jet Securities LLC</name>
        <lei>N/A</lei>
        <title>Business Jet Securities LLC, Series 2024-2A, Class A</title>
        <cusip>12326TAA6</cusip>
        <identifiers>
          <isin value="US12326TAA60"/>
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        <balance>12286197.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12363501.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.36400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>Arab Republic of Egypt</name>
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        <name>Dryden 104 CLO Ltd.</name>
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        <name>Stellantis Financial Underwritten Enhanced Lease Trust</name>
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        <name>LPL Holdings, Inc.</name>
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        <name>SHR Trust</name>
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        <name>Verus Securitization Trust</name>
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        <name>Neuberger Berman Loan Advisers NBLA CLO 53 Ltd.</name>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>OBX Trust</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>BDS LLC</name>
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        <name>Fairfax Financial Holdings Ltd.</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>Fairfax Financial Holdings Ltd.</title>
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        <invCountry>CA</invCountry>
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        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <name>SierraCol Energy Andina LLC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
        <lei>254900T4WKE0IYMYAI09</lei>
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        <name>Kentucky Higher Education Student Loan Corp.</name>
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        <name>Smurfit Westrock Financing DAC</name>
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        <name>Morgan Stanley</name>
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        <name>UBS Group AG</name>
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        <name>Argentine Republic (The)</name>
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        <name>Berks County Municipal Authority (The)</name>
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        <name>Booz Allen Hamilton, Inc.</name>
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        <name>UBS Group AG</name>
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        <name>Cheniere Energy, Inc.</name>
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        <name>LLC</name>
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        <name>BSPRT Issuer Ltd.</name>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Azule Energy Finance plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <name>MF1 Ltd.</name>
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        <name>CCO Holdings LLC</name>
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        <name>Voya Ltd.</name>
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        <name>Electricite de France SA</name>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <name>Cheniere Energy Partners LP</name>
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        <name>FNMA</name>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bain Capital Credit CLO Ltd.</name>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
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        <name>Port of Beaumont Industrial Development Authority</name>
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          <annualizedRt>4.10000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Fortescue Treasury Pty. Ltd.</name>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
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        <name>FNMA</name>
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        <name>Sonangol Finance Ltd.</name>
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        <name>MF1 LLC</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Jane Street Group</name>
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        <name>ACREC Ltd.</name>
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        <name>Marin General Hospital</name>
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        <name>Black Diamond CLO Ltd.</name>
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        <title>Black Diamond CLO Ltd., Series 2019-2A, Class BR</title>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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        <name>Shriram Finance Ltd.</name>
        <lei>335800TM2YO24B76XL26</lei>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
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        <name>Engie Energia Chile SA</name>
        <lei>5493000FIKCC3ZDWTO77</lei>
        <title>Engie Energia Chile SA</title>
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        <name>MF1</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Broadcom, Inc.</name>
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        <name>LKQ Corp.</name>
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        <name>Verus Securitization Trust</name>
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        <name>Hyundai Capital America</name>
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        <name>UC Health LLC</name>
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        <name>Beach Acquisition Bidco LLC</name>
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        <name>STORE Master Funding LLC</name>
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        <name>MF1 Ltd.</name>
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        <name>MF1 Ltd.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Affirm Asset Securitization Trust</name>
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        <name>ILPT Commercial Mortgage Trust</name>
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        <name>Greystone CRE Notes LLC</name>
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        <name>Trinitas CLO XV Ltd.</name>
        <lei>254900ZVDNHQAUJNHH42</lei>
        <title>Trinitas CLO XV Ltd., Series 2021-15A, Class CR</title>
        <cusip>89641XAS4</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Boston Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Plains All American Pipeline LP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-15</maturityDt>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dryden 43 Senior Loan Fund</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="TUH6COM"/>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Ferguson Enterprises, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-16</maturityDt>
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        <name>EQT Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-05</maturityDt>
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        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MBC8</cusip>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Eagle Funding Luxco Sarl</name>
        <lei>894500VDP08MVIZ6OA60</lei>
        <title>Eagle Funding Luxco Sarl</title>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Ballyrock CLO 25 Ltd.</name>
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        <name>Charter Communications Operating LLC</name>
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        <name>United States of America</name>
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        <name>Alcon Finance Corp.</name>
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        <title>Alcon Finance Corp.</title>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <title>Arthur J Gallagher &amp; Co.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-02-15</maturityDt>
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        <name>Jersey Central Power &amp; Light Co.</name>
        <lei>549300W9UGH9ZPLNPF79</lei>
        <title>Jersey Central Power &amp; Light Co.</title>
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        <balance>359000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <name>MF1</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Bain Capital Credit CLO Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>LLC</name>
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        <name>Boston Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brixmor Operating Partnership LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Glencore Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital One Financial Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>Acrec 2025 Fl LLC</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>2138001HZNOLT1K3WY73</lei>
        <title>COLT Mortgage Loan Trust, Series 2024-1, Class A1</title>
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      <invstOrSec>
        <name>Bacardi Ltd.</name>
        <lei>549300R32WTQNHNN5055</lei>
        <title>Bacardi Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELM Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wabash National Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Store Capital LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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      <invstOrSec>
        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <title>Wells Fargo Commercial Mortgage Trust, Series 2017-RB1, Class A5</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Berks County Municipal Authority (The)</name>
        <lei>N/A</lei>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ashtead Capital, Inc.</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, Inc.</title>
        <cusip>04505AAA7</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Toledo Hospital (The)</name>
        <lei>5493009DCR7NWV6K4T34</lei>
        <title>Toledo Hospital (The)</title>
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        <balance>568000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2J1</cusip>
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        <balance>5515000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
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        <cusip>30167MAB3</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>25490010LUJWFEUCIH44</lei>
        <title>OBX Trust, Series 2024-NQM10, Class A2</title>
        <cusip>67119MAB4</cusip>
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        <balance>3601814.49000000</balance>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
        <cusip>674599EL5</cusip>
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        <balance>6292000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.55000000</annualizedRt>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <balance>10000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.40300000</annualizedRt>
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      <invstOrSec>
        <name>BDS LLC</name>
        <lei>N/A</lei>
        <title>BDS LLC, Series 2024-FL13, Class AS</title>
        <cusip>05555MAC3</cusip>
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        <balance>5354000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5368691.38000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.66354880</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>213800Z2Q6LED8DB8K38</lei>
        <title>COLT Mortgage Loan Trust, Series 2024-2, Class A1</title>
        <cusip>12665LAA2</cusip>
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          <isin value="US12665LAA26"/>
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        <balance>5038995.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5094743.74000000</valUSD>
        <pctVal>0.063821562587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2069-04-25</maturityDt>
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          <annualizedRt>6.12500040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BP1</cusip>
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          <isin value="US893647BP15"/>
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        <balance>32500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32303550.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TV0</cusip>
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          <isin value="US912810TV08"/>
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        <balance>47500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46399707.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>98313RAL0</cusip>
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          <isin value="US98313RAL06"/>
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        <balance>14373000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14568740.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APA Infrastructure Ltd.</name>
        <lei>261700SS8OEHDOCOUJ33</lei>
        <title>APA Infrastructure Ltd.</title>
        <cusip>00188LAA5</cusip>
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          <isin value="US00188LAA52"/>
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        <balance>19996000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20040168.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PRM Trust</name>
        <lei>N/A</lei>
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        <cusip>74277DAE2</cusip>
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          <isin value="US74277DAE22"/>
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        <balance>3740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3743928.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00775120</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>N/A</lei>
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        <cusip>67120QAA4</cusip>
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          <isin value="US67120QAA40"/>
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        <balance>19280767.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19466775.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Black Diamond CLO Ltd.</name>
        <lei>549300IEWA7GZ3ECTT90</lei>
        <title>Black Diamond CLO Ltd., Series 2021-1A, Class BR</title>
        <cusip>09204WAK0</cusip>
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          <isin value="US09204WAK09"/>
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        <balance>19000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19012236.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.86919880</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toll Road Investors Partnership II LP</name>
        <lei>N/A</lei>
        <title>Toll Road Investors Partnership II LP</title>
        <cusip>88948ABE6</cusip>
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          <isin value="US88948ABE64"/>
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        <balance>889000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>739971.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RK6</cusip>
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          <isin value="US912810RK60"/>
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        <balance>7646000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5399987.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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          <isin value="US06738EBX22"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16035660.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Republic of Turkiye (The)</name>
        <lei>5493000PCHOG3B6S3Q85</lei>
        <title>Republic of Turkiye (The)</title>
        <cusip>900123DK3</cusip>
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          <isin value="US900123DK30"/>
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        <balance>6117000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6513726.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Corebridge Financial, Inc.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial, Inc.</title>
        <cusip>21871XAU3</cusip>
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          <isin value="US21871XAU37"/>
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        <balance>14368000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2025-C39, Class A5</title>
        <cusip>05556YAC6</cusip>
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          <isin value="US05556YAC66"/>
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        <balance>7368421.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.29694000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cathedral Lake VI Ltd.</name>
        <lei>254900VBMJ6DSB3ZGA63</lei>
        <title>Cathedral Lake VI Ltd., Series 2021-6A, Class BR</title>
        <cusip>14919LAW4</cusip>
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          <isin value="US14919LAW46"/>
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        <balance>6214659.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-25</maturityDt>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>254709AS7</cusip>
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          <isin value="US254709AS70"/>
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        <balance>22683000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM6, Class A1</title>
        <cusip>617948AA2</cusip>
        <identifiers>
          <isin value="US617948AA20"/>
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        <balance>18341753.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18465775.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.15199960</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
        <cusip>55609NAC2</cusip>
        <identifiers>
          <isin value="US55609NAC20"/>
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        <balance>3124000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3281662.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Benchmark Mortgage Trust</name>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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          <isin value="US14040HCN35"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <name>Pacific Gas and Electric Co.</name>
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          <isin value="US694308KP16"/>
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        <name>United States of America</name>
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        <name>ILPT Commercial Mortgage Trust</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PMT Loan Trust</name>
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        <name>BANK</name>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <name>HSBC Holdings plc</name>
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        <name>Bank of America Corp.</name>
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        <name>Jersey Central Power &amp; Light Co.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
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        <name>Rogers Communications, Inc.</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications, Inc.</title>
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        <invCountry>CA</invCountry>
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        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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          <isin value="US74442PQ652"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="FVH6COM"/>
          <other otherDesc="Future Ticker" value="FVH6 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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      <invstOrSec>
        <name>Verus Securitization Trust</name>
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          <isin value="US92539UAA88"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MF1</name>
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          <isin value="US58003MAG15"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-18</maturityDt>
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      <invstOrSec>
        <name>MF1 LLC</name>
        <lei>N/A</lei>
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          <isin value="US55285AAE73"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7002541.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.82328160</annualizedRt>
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      <invstOrSec>
        <name>Toledo Hospital (The)</name>
        <lei>5493009DCR7NWV6K4T34</lei>
        <title>Toledo Hospital (The), Series B</title>
        <cusip>889184AC1</cusip>
        <identifiers>
          <isin value="US889184AC18"/>
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        <balance>3153000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.32500000</annualizedRt>
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      <invstOrSec>
        <name>Alaska Industrial Development &amp; Export Authority</name>
        <lei>N/A</lei>
        <title>Alaska Industrial Development &amp; Export Authority</title>
        <cusip>011903BT7</cusip>
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          <isin value="US011903BT76"/>
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        <balance>4845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4846205.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2023-V3, Class AS</title>
        <cusip>08163VAF4</cusip>
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          <isin value="US08163VAF40"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10551199.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
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          <isin value="US06541DBT00"/>
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        <balance>6906487.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>AGL CLO 1 Ltd.</name>
        <lei>5493005XHETQNZF9TM25</lei>
        <title>AGL CLO 1 Ltd., Series 2019-1A, Class BRR</title>
        <cusip>00119HAS9</cusip>
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          <isin value="US00119HAS94"/>
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        <balance>15250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15251159.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
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      <invstOrSec>
        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
        <lei>N/A</lei>
        <title>Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class D</title>
        <cusip>03880XAJ5</cusip>
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          <isin value="US03880XAJ54"/>
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        <balance>5800000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-15</maturityDt>
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      <invstOrSec>
        <name>First Industrial LP</name>
        <lei>86MKNB3IKYZZT3E3OV11</lei>
        <title>First Industrial LP</title>
        <cusip>32055RAS6</cusip>
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        <balance>29162000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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      <invstOrSec>
        <name>Chemours Co. (The)</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>Chemours Co. (The)</title>
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        <balance>9940000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>XPLR Infrastructure Operating Partners LP</title>
        <cusip>65342QAM4</cusip>
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        <balance>19050000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd.</title>
        <cusip>55609NAD0</cusip>
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        <balance>11500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-26</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>AmWINS Group, Inc.</name>
        <lei>549300SJE7MUB8NMRG61</lei>
        <title>AmWINS Group, Inc.</title>
        <cusip>031921AC3</cusip>
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        <name>Targa Resources Corp.</name>
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        <name>HUB International Ltd.</name>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
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        <name>UBS Group AG</name>
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        <name>COMM Mortgage Trust</name>
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        <name>Santos Finance Ltd.</name>
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        <name>Venture 43 CLO Ltd.</name>
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        <name>AREIT Ltd.</name>
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        <name>Performance Food Group, Inc.</name>
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        <title>Performance Food Group, Inc.</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Enbridge, Inc.</name>
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        <name>BXMT Ltd.</name>
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        <name>UBS Group AG</name>
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        <name>Ashtead Capital, Inc.</name>
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        <name>PMT Loan Trust</name>
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        <name>Eni SpA</name>
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        <name>Nomura Holdings, Inc.</name>
        <lei>549300B3CEAHYG7K8164</lei>
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        <name>LPL Holdings, Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
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        <name>Global Payments, Inc.</name>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <name>United States of America</name>
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        <name>STORE Master Funding LLC</name>
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        <name>BX Commercial Mortgage Trust</name>
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        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
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        <name>Store Master Funding I-VII XIV XIX XX XXIV XXII</name>
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        <name>Angel Oak Mortgage Trust</name>
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      <invstOrSec>
        <name>ARI Fleet Lease Trust</name>
        <lei>N/A</lei>
        <title>ARI Fleet Lease Trust, Series 2023-B, Class A2</title>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMBC Aviation Capital Finance DAC</name>
        <lei>549300OD7VKRVNWB2J98</lei>
        <title>SMBC Aviation Capital Finance DAC</title>
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          <isin value="US78448TAM45"/>
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        <balance>20000000.00000000</balance>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Raizen Fuels Finance SA</name>
        <lei>52990010NH26VC32Q522</lei>
        <title>Raizen Fuels Finance SA</title>
        <cusip>75102XAD8</cusip>
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          <isin value="US75102XAD84"/>
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        <balance>17983000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2022-C18, Class AS</title>
        <cusip>054975AJ6</cusip>
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          <isin value="US054975AJ64"/>
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        <balance>3226076.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Corebridge Financial, Inc.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial, Inc.</title>
        <cusip>21871XAS8</cusip>
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        <balance>18000000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
        <cusip>808513CE3</cusip>
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          <isin value="US808513CE32"/>
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        <balance>11266000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.85300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fairfax Financial Holdings Ltd.</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>Fairfax Financial Holdings Ltd.</title>
        <cusip>303901BJ0</cusip>
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          <isin value="US303901BJ06"/>
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        <balance>452000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Plains All American Pipeline LP</name>
        <lei>N/A</lei>
        <title>Plains All American Pipeline LP</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>Affirm Asset Securitization Trust</name>
        <lei>N/A</lei>
        <title>Affirm Asset Securitization Trust, Series 2024-X2, Class A</title>
        <cusip>00833QAA3</cusip>
        <identifiers>
          <isin value="US00833QAA31"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Mercantil del Norte SA</name>
        <lei>549300QTVYRPFHS0J362</lei>
        <title>Banco Mercantil del Norte SA</title>
        <cusip>N/A</cusip>
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          <isin value="USP1401KAB72"/>
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        <balance>9723000.00000000</balance>
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        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Bain Capital Credit CLO Ltd.</name>
        <lei>254900YJBP8866ZPO033</lei>
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        <cusip>05685AAW8</cusip>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OZLM Funding II Ltd.</name>
        <lei>N/A</lei>
        <title>OZLM Funding II Ltd., Series 2012-2A, Class C1R4</title>
        <cusip>67108BCL7</cusip>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>213800AWBXHFGYDU9Q16</lei>
        <title>COLT Mortgage Loan Trust, Series 2024-5, Class A1</title>
        <cusip>19685AAA7</cusip>
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          <isin value="US19685AAA79"/>
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      <invstOrSec>
        <name>BDS LLC</name>
        <lei>N/A</lei>
        <title>BDS LLC, Series 2025-FL16, Class B</title>
        <cusip>05556XAE4</cusip>
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          <isin value="US05556XAE40"/>
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        <balance>26066885.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.52535920</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XCM0</cusip>
        <identifiers>
          <isin value="US03027XCM02"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20553399.60000000</valUSD>
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        <name>Neuberger Berman Loan Advisers CLO 35 Ltd.</name>
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        <name>Time Warner Cable LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>United States of America</name>
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        <name>LoanCore Issuer LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>CREST Ltd.</name>
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        <name>Harbor Park CLO Ltd.</name>
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        <name>Toll Road Investors Partnership II LP</name>
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        <name>Dick's Sporting Goods, Inc.</name>
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        <name>Plains All American Pipeline LP</name>
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        <name>TRTX Issuer Ltd.</name>
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        <name>NCL Corp. Ltd.</name>
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        <name>Republic of Turkiye (The)</name>
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        <name>AREIT Trust</name>
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        <name>Ashtead Capital, Inc.</name>
        <lei>213800J1134IW58IC398</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Rio Tinto Finance USA plc</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>Rio Tinto Finance USA plc</title>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LLC</name>
        <lei>N/A</lei>
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          <isin value="US55287KAE38"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BMP</name>
        <lei>N/A</lei>
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          <isin value="US05593JAG58"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STWD Ltd.</name>
        <lei>N/A</lei>
        <title>STWD Ltd., Series 2022-FL3, Class D</title>
        <cusip>78485KAL9</cusip>
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          <isin value="US78485KAL98"/>
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        <balance>2750000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.45734880</annualizedRt>
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      <invstOrSec>
        <name>Hartwick Park CLO Ltd.</name>
        <lei>2549003E1ZAWJG55NM75</lei>
        <title>Hartwick Park CLO Ltd., Series 2023-1A, Class BR</title>
        <cusip>417403AQ5</cusip>
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          <isin value="US417403AQ58"/>
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        <balance>4347826.00000000</balance>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp.</title>
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        <balance>14247000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Residential Mortgage Loan Trust, Series 2025-NQM9, Class A1</title>
        <cusip>61779VAA0</cusip>
        <identifiers>
          <isin value="US61779VAA08"/>
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        <balance>18370273.69000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18462648.61000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2070-09-25</maturityDt>
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      <invstOrSec>
        <name>PMT Loan Trust</name>
        <lei>N/A</lei>
        <title>PMT Loan Trust, Series 2025-INV10, Class A36</title>
        <cusip>69383EBK6</cusip>
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          <isin value="US69383EBK64"/>
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        <balance>12300192.59000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dryden 86 CLO Ltd.</name>
        <lei>25490017VKY7XEFZL303</lei>
        <title>Dryden 86 CLO Ltd., Series 2020-86A, Class CR2</title>
        <cusip>26245XBE6</cusip>
        <identifiers>
          <isin value="US26245XBE67"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-17</maturityDt>
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          <annualizedRt>5.56763040</annualizedRt>
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      <invstOrSec>
        <name>Hartwick Park CLO Ltd.</name>
        <lei>2549003E1ZAWJG55NM75</lei>
        <title>Hartwick Park CLO Ltd., Series 2023-1A, Class CR</title>
        <cusip>417403AS1</cusip>
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          <isin value="US417403AS15"/>
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        <balance>13000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-20</maturityDt>
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      <invstOrSec>
        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
        <lei>N/A</lei>
        <title>Arbor Realty Commercial Real Estate Notes Ltd., Series 2022-FL1, Class E</title>
        <cusip>03880XAL0</cusip>
        <identifiers>
          <isin value="US03880XAL01"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
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          <annualizedRt>7.45734960</annualizedRt>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>21380069FFOP8RZNF423</lei>
        <title>COLT Mortgage Loan Trust, Series 2025-1, Class A1</title>
        <cusip>196920AC6</cusip>
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          <isin value="US196920AC66"/>
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        <balance>5933854.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6001187.49000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2070-01-25</maturityDt>
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          <annualizedRt>5.69900160</annualizedRt>
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      <invstOrSec>
        <name>Westinghouse Air Brake Technologies Corp.</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>Westinghouse Air Brake Technologies Corp.</title>
        <cusip>960386AM2</cusip>
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          <isin value="US960386AM29"/>
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        <balance>7534000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-15</maturityDt>
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      <invstOrSec>
        <name>Invesco CLO Ltd.</name>
        <lei>54930008L2A8UYGN7A86</lei>
        <title>Invesco CLO Ltd., Series 2022-2A, Class BR</title>
        <cusip>46145XAQ9</cusip>
        <identifiers>
          <isin value="US46145XAQ97"/>
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        <balance>18489484.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-20</maturityDt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ABL0</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cellnex Finance Co. SA</name>
        <lei>549300OUROMFTRFA7T23</lei>
        <title>Cellnex Finance Co. SA</title>
        <cusip>15118JAA3</cusip>
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          <isin value="US15118JAA34"/>
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        <balance>1582000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1281024.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-07</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>254900WI6P4MRT24JH23</lei>
        <title>OBX Trust, Series 2025-NQM16, Class A1</title>
        <cusip>67122DAC7</cusip>
        <identifiers>
          <isin value="US67122DAC74"/>
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        <balance>18777891.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18850284.14000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.90500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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        <name>Anglo American Capital plc</name>
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        <name>Bacardi Ltd.</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>Capital One Financial Corp.</name>
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        <name>JBS NV</name>
        <lei>N/A</lei>
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        <name>Fairfax Financial Holdings Ltd.</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
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        <invCountry>CA</invCountry>
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        <name>Bain Capital Credit CLO Ltd.</name>
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        <name>ELM Trust</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>OZLM Funding II Ltd.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>United States of America</name>
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        <name>Anglo American Capital plc</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
        <title>Anglo American Capital plc</title>
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        <invCountry>GB</invCountry>
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        <name>Barclays Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Barclays Commercial Mortgage Trust, Series 2019-C5, Class A4</title>
        <cusip>05492JAW2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PFP Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARDN Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US039961AE74"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arrow Electronics, Inc.</name>
        <lei>549300YNNLBXT8N8R512</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-02-18</maturityDt>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LPL Holdings, Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2023-3, Class A2</title>
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          <isin value="US29374LAB62"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-05</maturityDt>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>254900C7ZCEHM7Y5MX79</lei>
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          <isin value="US67119XAC83"/>
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        <curCd>USD</curCd>
        <valUSD>6691341.08000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-09-25</maturityDt>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2019-BN23, Class A3</title>
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          <isin value="US06541RBB87"/>
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        <balance>5777000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Palmer Square Loan Funding Ltd.</name>
        <lei>N/A</lei>
        <title>Palmer Square Loan Funding Ltd., Series 2025-1A, Class C</title>
        <cusip>69704CAG2</cusip>
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          <isin value="US69704CAG24"/>
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        <balance>8875000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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          <annualizedRt>6.10180920</annualizedRt>
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      <invstOrSec>
        <name>VZ Secured Financing BV</name>
        <lei>549300MG611MYCOWY949</lei>
        <title>VZ Secured Financing BV</title>
        <cusip>91845AAA3</cusip>
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        <balance>24183000.00000000</balance>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MAX3</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-30</maturityDt>
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          <annualizedRt>3.30000000</annualizedRt>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAS1</cusip>
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          <isin value="US89788MAS17"/>
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        <balance>18734000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-24</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2017-C42, Class A4</title>
        <cusip>95001GAE3</cusip>
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          <isin value="US95001GAE35"/>
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        <balance>3490000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <balance>20350000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Alliant Holdings Intermediate LLC</name>
        <lei>N/A</lei>
        <title>Alliant Holdings Intermediate LLC</title>
        <cusip>01883LAA1</cusip>
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        <balance>16250000.00000000</balance>
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        <valUSD>16295955.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
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        <name>T-Mobile USA, Inc.</name>
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      <invstOrSec>
        <name>AREIT Trust</name>
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      <invstOrSec>
        <name>Brown &amp; Brown, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EURO</name>
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        <fairValLevel>1</fairValLevel>
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        <name>United States of America</name>
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        <name>JH North America Holdings, Inc.</name>
        <lei>254900A6FXA0D81TL967</lei>
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        <name>LLC</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300AGZIS1CJS4RM30</lei>
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        <name>Boeing Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>DCP Midstream Operating LP</name>
        <lei>549300Y6CTBSE0QIPL28</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Shackleton 2015-VII-R CLO Ltd.</name>
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        <title>Shackleton 2015-VII-R CLO Ltd., Series 2015-7RA, Class BRR</title>
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        <issuerCat>CORP</issuerCat>
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        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <name>Corebridge Financial, Inc.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial, Inc.</title>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Morgan Stanley</name>
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        <name>BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MSWF Commercial Mortgage Trust</name>
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          <isin value="US55361AAU88"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jefferies Financial Group, Inc.</name>
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        <name>Bayview Financial Revolving Asset Trust</name>
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        <name>UBS Commercial Mortgage Trust</name>
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        <name>Corebridge Financial, Inc.</name>
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        <name>Store Capital LLC</name>
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        <name>GreatAmerica Leasing Receivables Funding LLC</name>
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        <name>EQT Trust</name>
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        <name>OBX Trust</name>
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        <name>United States of America</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Humana, Inc.</name>
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        <title>Humana, Inc.</title>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
        <cusip>04316JAF6</cusip>
        <identifiers>
          <isin value="US04316JAF66"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10995473.70000000</valUSD>
        <pctVal>0.137739668320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XPLR Infrastructure Operating Partners LP</name>
        <lei>549300KJEC5IUVJWR786</lei>
        <title>XPLR Infrastructure Operating Partners LP</title>
        <cusip>65342QAB8</cusip>
        <identifiers>
          <isin value="US65342QAB86"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9909075.00000000</valUSD>
        <pctVal>0.124130414122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VBK5</cusip>
        <identifiers>
          <isin value="US29273VBK52"/>
        </identifiers>
        <balance>27836000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27805942.13000000</valUSD>
        <pctVal>0.348323442064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</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>BANK5</name>
        <lei>N/A</lei>
        <title>BANK5, Series 2025-5YR17, Class AS</title>
        <cusip>06211GAP1</cusip>
        <identifiers>
          <isin value="US06211GAP19"/>
        </identifiers>
        <balance>13546012.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13980352.68000000</valUSD>
        <pctVal>0.175131076084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62600080</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>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BY2</cusip>
        <identifiers>
          <isin value="US893647BY22"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5090060.00000000</valUSD>
        <pctVal>0.063762889645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bain Capital Credit CLO Ltd.</name>
        <lei>2549002RK7W6TK0Q0E16</lei>
        <title>Bain Capital Credit CLO Ltd., Series 2020-3A, Class CRR</title>
        <cusip>05684CAZ8</cusip>
        <identifiers>
          <isin value="US05684CAZ86"/>
        </identifiers>
        <balance>10440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10441482.48000000</valUSD>
        <pctVal>0.130799852085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.57102160</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>SMBC Aviation Capital Finance DAC</name>
        <lei>549300OD7VKRVNWB2J98</lei>
        <title>SMBC Aviation Capital Finance DAC</title>
        <cusip>78448TAP7</cusip>
        <identifiers>
          <isin value="US78448TAP75"/>
        </identifiers>
        <balance>25878000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25790019.20000000</valUSD>
        <pctVal>0.323070091157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2023-2A, Class A2</title>
        <cusip>36269EAB5</cusip>
        <identifiers>
          <isin value="US36269EAB56"/>
        </identifiers>
        <balance>871772.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>874992.76000000</valUSD>
        <pctVal>0.010960984113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37000000</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>LRECS LLC</name>
        <lei>N/A</lei>
        <title>LRECS LLC, Series 2025-CRE1, Class B</title>
        <cusip>50230AAE4</cusip>
        <identifiers>
          <isin value="US50230AAE47"/>
        </identifiers>
        <balance>23587830.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23605067.99000000</valUSD>
        <pctVal>0.295699332682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.67536040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738ECE3</cusip>
        <identifiers>
          <isin value="US06738ECE32"/>
        </identifiers>
        <balance>5972000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6828252.22000000</valUSD>
        <pctVal>0.085537123879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.43700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CHQ7</cusip>
        <identifiers>
          <isin value="US91282CHQ78"/>
        </identifiers>
        <balance>82100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83183976.15000000</valUSD>
        <pctVal>1.042040897651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parallel Ltd.</name>
        <lei>N/A</lei>
        <title>Parallel Ltd., Series 2023-1A, Class A2R</title>
        <cusip>69915NAL2</cusip>
        <identifiers>
          <isin value="US69915NAL29"/>
        </identifiers>
        <balance>30959594.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31006033.39000000</valUSD>
        <pctVal>0.388410801715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.46762960</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-02</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust VIII</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
