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        <name>BELLEMEADE RE LT</name>
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        <name>Fannie Mae - CAS</name>
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        <name>Prestige Auto Receivables Trust</name>
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        <name>AREIT CRE Trust</name>
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        <name>MVW Owner Trust</name>
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      <invstOrSec>
        <name>UBS-Barclays Commercial Mortgage Trust</name>
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        <name>STANDARD CHARTERED PLC</name>
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        <title>Standard Chartered PLC</title>
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        <invCountry>GB</invCountry>
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        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <name>Chicago Board of Trade</name>
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        <name>Freddie Mac - STACR</name>
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        <name>Freddie Mac</name>
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        <name>Freddie Mac - STACR</name>
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        <name>Freddie Mac - STACR</name>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
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        <balance>255668.98000000</balance>
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          <maturityDt>2046-08-16</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Foursight Capital Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Foursight Capital Automobile Receivables Trust 2021-1</title>
        <cusip>35105WAJ8</cusip>
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          <isin value="US35105WAJ80"/>
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        <balance>229000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>216984.39000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.02000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738ECC7</cusip>
        <identifiers>
          <isin value="US06738ECC75"/>
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        <balance>396000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410568.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.32500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>AIB GROUP PLC</name>
        <lei>635400AKJBGNS5WNQL34</lei>
        <title>AIB Group PLC</title>
        <cusip>00135TAC8</cusip>
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          <isin value="US00135TAC80"/>
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        <balance>681000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>692999.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.58300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ACM Auto Trust</name>
        <lei>N/A</lei>
        <title>ACM Auto Trust 2022-1</title>
        <cusip>00091QAA0</cusip>
        <identifiers>
          <isin value="US00091QAA04"/>
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        <balance>139952.18000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139592.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.23000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FIN GRP</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group Inc</title>
        <cusip>606822CH5</cusip>
        <identifiers>
          <isin value="US606822CH58"/>
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        <balance>267000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264116.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78800000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
        <cusip>87165BAS2</cusip>
        <identifiers>
          <isin value="US87165BAS25"/>
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        <balance>199000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194136.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>30711XAP9</cusip>
        <identifiers>
          <isin value="US30711XAP96"/>
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        <balance>177372.58000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181988.95000000</valUSD>
        <pctVal>0.061610225559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.28900000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CFG1</cusip>
        <identifiers>
          <isin value="US91282CFG15"/>
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        <balance>57971900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56785287.67000000</valUSD>
        <pctVal>19.22399344470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Neighborly Issuer LLC</name>
        <lei>N/A</lei>
        <title>Neighborly Issuer LLC</title>
        <cusip>64016NAA5</cusip>
        <identifiers>
          <isin value="US64016NAA54"/>
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        <balance>222665.16000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178167.53000000</valUSD>
        <pctVal>0.060316528617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.58400000</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>BELLEMEADE RE LT</name>
        <lei>N/A</lei>
        <title>Bellemeade RE 2021-3 Ltd</title>
        <cusip>078777AA7</cusip>
        <identifiers>
          <isin value="US078777AA70"/>
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        <balance>479987.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>454828.72000000</valUSD>
        <pctVal>0.153976931182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.92800000</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>Intercontinental Exchange, Inc.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Long: BS2J6N8   CDS USD R V 03MEVENT IS2J6O9 CCPCDX / Short: BS2J6N8   CDS USD P F  5.00000 IS2J6N8 CCPCDX</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="BS2J6N8"/>
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        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-20435.95000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Intercontinental Exchange, Inc.</counterpartyName>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CDX.NA.HY.S39</indexName>
                <indexIdentifier>2I65BRZH6</indexIdentifier>
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            <otherRecDesc fixedOrFloating="Other">buy protection</otherRecDesc>
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      <invstOrSec>
        <name>AXIS Equipment Finance Receivables LLC</name>
        <lei>549300IFG1NMINYRYF89</lei>
        <title>Amur Equipment Finance Receivables XI LLC</title>
        <cusip>03236XAB3</cusip>
        <identifiers>
          <isin value="US03236XAB38"/>
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        <balance>281000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277898.15000000</valUSD>
        <pctVal>0.094079160872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust 2020-3</title>
        <cusip>96042QAJ9</cusip>
        <identifiers>
          <isin value="US96042QAJ94"/>
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        <balance>657000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>640504.31000000</valUSD>
        <pctVal>0.216835225495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.24000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CPS Auto Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust 2021-A</title>
        <cusip>12656NAE1</cusip>
        <identifiers>
          <isin value="US12656NAE13"/>
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        <balance>470065.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>464130.13000000</valUSD>
        <pctVal>0.157125814497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.83000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CFN6</cusip>
        <identifiers>
          <isin value="US91282CFN65"/>
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        <balance>5740700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5712893.48000000</valUSD>
        <pctVal>1.934033115198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CEK3</cusip>
        <identifiers>
          <isin value="US91282CEK36"/>
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        <balance>12088000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11744247.50000000</valUSD>
        <pctVal>3.975877312888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELTA AIR LINES/SKYMILES</name>
        <lei>N/A</lei>
        <title>Delta Air Lines Inc / SkyMiles IP Ltd</title>
        <cusip>830867AA5</cusip>
        <identifiers>
          <isin value="US830867AA59"/>
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        <balance>1050000.00000000</balance>
        <units>PA</units>
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        <name>Santander Bank Auto Credit-Linked Notes</name>
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        <name>Fannie Mae</name>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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        <name>GS Mortgage Securities Trust</name>
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        <name>Genworth Mortgage Insurance Corporation</name>
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        <name>United States Treasury</name>
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        <name>HFX FUNDING ISSUER</name>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>Ford Credit Auto Owner Trust/Ford Credit</name>
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        <name>Credit Suisse AG</name>
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        <name>Affirm Inc</name>
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        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SANTANDER UK GROUP HLDGS</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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          <isin value="US404280DA42"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR REMIC Trust 2021-DNA6</title>
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          <isin value="US35564KKR94"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>College Ave Student Loans</name>
        <lei>N/A</lei>
        <title>College Ave Student Loans 2021-C LLC</title>
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          <isin value="US19424WAB37"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARKER-HANNIFIN CORP</name>
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          <isin value="US701094AQ75"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Crossroads Asset Trust</name>
        <lei>N/A</lei>
        <title>Crossroads Asset Trust 2021-A</title>
        <cusip>22767CAC4</cusip>
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      <invstOrSec>
        <name>Voya CLO Ltd</name>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
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          <isin value="US91282CFX48"/>
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        <name>GSF 2021 1 ISSUER LLC</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
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        <name>LSTAR Commercial Mortgage Trust</name>
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        <name>Donlen Fleet Lease Funding</name>
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        <name>Radnor Re LTD</name>
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        <title>Radnor RE 2019-1 Ltd</title>
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        <invCountry>BM</invCountry>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <title>Exeter Automobile Receivables Trust 2021-2</title>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CAZ4</cusip>
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          <isin value="US91282CAZ41"/>
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        <balance>95500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85502.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEUTSCHE BANK NY</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG/New York NY</title>
        <cusip>25160PAJ6</cusip>
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          <isin value="US25160PAJ66"/>
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        <balance>267000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265624.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.11900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AZURE ORBIT IV INTL FIN</name>
        <lei>549300DX1ZQGOMLNIF41</lei>
        <title>Azure Orbit IV International Finance Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="XS1748890230"/>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>898911.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>AMAZON.COM INC</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com Inc</title>
        <cusip>023135CP9</cusip>
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          <isin value="US023135CP90"/>
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        <balance>412000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410805.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAT INTL FINANCE PLC</name>
        <lei>21380041YBGOQDFAC823</lei>
        <title>BAT International Finance PLC</title>
        <cusip>05530QAN0</cusip>
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          <isin value="US05530QAN07"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>655188.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.66800000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chase Mortgage Finance Corporation</name>
        <lei>N/A</lei>
        <title>JPMorgan Chase Bank NA - CHASE</title>
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        <identifiers>
          <isin value="US46591HAC43"/>
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        <balance>51766.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49599.87000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-04-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YER2</cusip>
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          <isin value="US61747YER27"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>166222.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.21000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust 2019-BPR</title>
        <cusip>61769GAJ6</cusip>
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          <isin value="US61769GAJ67"/>
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        <balance>365000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
        <cusip>21684AAF3</cusip>
        <identifiers>
          <isin value="US21684AAF30"/>
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        <balance>282000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>265581.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20755DAA4</cusip>
        <identifiers>
          <isin value="US20755DAA46"/>
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        <balance>739837.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>742160.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.47800000</annualizedRt>
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      <invstOrSec>
        <name>CAJUN GLOBAL LLC</name>
        <lei>N/A</lei>
        <title>Cajun Global LLC</title>
        <cusip>12803VAA3</cusip>
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          <isin value="US12803VAA35"/>
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        <balance>101455.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85923.76000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.93100000</annualizedRt>
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      <invstOrSec>
        <name>CPS Auto Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust 2021-B</title>
        <cusip>12656QAC8</cusip>
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          <isin value="US12656QAC87"/>
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        <balance>389000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>377608.25000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.23000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418MZ39</cusip>
        <identifiers>
          <isin value="US31418MZ397"/>
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        <balance>572090.94000000</balance>
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        <curCd>USD</curCd>
        <valUSD>577780.56000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp</title>
        <cusip>3137EAEV7</cusip>
        <identifiers>
          <isin value="US3137EAEV76"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1941767.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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      <invstOrSec>
        <name>BANCO BILBAO VIZCAYA ARG</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA</title>
        <cusip>05946KAK7</cusip>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>599460.00000000</valUSD>
        <pctVal>0.202940155508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.86200000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase Bank, NA - CACLN</name>
        <lei>N/A</lei>
        <title>JPMorgan Chase Bank NA - CACLN</title>
        <cusip>48128U2M0</cusip>
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        <balance>243960.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233153.32000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.88900000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LCH Limited</name>
        <lei>F226TOH6YD6XJB17KS62</lei>
        <title>Long: BS29BB1   IRS USD R V 03MLIBOR IS29BC2 CCPVANILLA / Short: BS29BB1   IRS USD P F  1.61650 IS29BB1 CCPVANILLA</title>
        <cusip>000000000</cusip>
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        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>462532.91000000</valUSD>
        <pctVal>0.156585094390</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>LCH Limited</counterpartyName>
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                <issueTitle>N/A</issueTitle>
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        <name>Freddie Mac</name>
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        <name>BELLEMEADE RE LT</name>
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        <name>DEUTSCHE BANK NY</name>
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        <name>United States Treasury</name>
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        <name>OCP CLO Ltd</name>
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        <name>LAS VEGAS SANDS CORP</name>
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        <name>Upstart Securitization Trust</name>
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        <name>HPEFS Equipment Trust</name>
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        <name>Research-Driven Pagaya Motor Asset Trust I</name>
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        <name>BELLEMEADE RE LT</name>
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        <name>Rad CLO Ltd</name>
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        <name>Santander Consumer Auto Receivables Trust</name>
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        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
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        <name>Brex Inc</name>
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        <name>Marathon Oil Corp</name>
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        <title>Marathon Oil Corp</title>
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        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>N/A</lei>
        <title>Dryden 78 CLO Ltd</title>
        <cusip>26253LAE2</cusip>
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          <isin value="US26253LAE20"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301247.68000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.02900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust 2022-3</title>
        <cusip>02528GAA1</cusip>
        <identifiers>
          <isin value="US02528GAA13"/>
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        <balance>695103.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690184.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280DG1</cusip>
        <identifiers>
          <isin value="US404280DG12"/>
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        <balance>790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>760777.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
        <cusip>36225BUB2</cusip>
        <identifiers>
          <isin value="US36225BUB25"/>
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        <balance>28447.37000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29886.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YEK7</cusip>
        <identifiers>
          <isin value="US61747YEK73"/>
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        <balance>303000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>269167.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.47500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300LGCRX4YI1JNS93</lei>
        <title>Neuberger Berman Loan Advisers Clo 42 Ltd</title>
        <cusip>64133WAA3</cusip>
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          <isin value="US64133WAA36"/>
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        <balance>799055.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>779649.15000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.17900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Radnor Re LTD</name>
        <lei>254900YVLP8CB4GC2O97</lei>
        <title>Radnor RE 2020-1 Ltd</title>
        <cusip>750493AA6</cusip>
        <identifiers>
          <isin value="US750493AA69"/>
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        <balance>33067.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33021.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.33900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CGA3</cusip>
        <identifiers>
          <isin value="US91282CGA36"/>
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        <balance>8331300.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8287039.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CDV0</cusip>
        <identifiers>
          <isin value="US91282CDV00"/>
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        <balance>2480700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2379533.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Trust 2022-R05</title>
        <cusip>20754DAA5</cusip>
        <identifiers>
          <isin value="US20754DAA54"/>
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        <balance>140869.27000000</balance>
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        <curCd>USD</curCd>
        <valUSD>139534.01000000</valUSD>
        <pctVal>0.047237603323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.82800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac STACR REMIC Trust 2021-DNA7</title>
        <cusip>35564KMA4</cusip>
        <identifiers>
          <isin value="US35564KMA42"/>
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        <balance>698543.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>686475.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.77800000</annualizedRt>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust 2020-3</title>
        <cusip>30166NAE6</cusip>
        <identifiers>
          <isin value="US30166NAE67"/>
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        <balance>245519.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>242745.40000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.32000000</annualizedRt>
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      <invstOrSec>
        <name>Santander Bank Auto Credit-Linked Notes</name>
        <lei>N/A</lei>
        <title>Santander Bank Auto Credit-Linked Notes Series 2022-C</title>
        <cusip>80290CBF0</cusip>
        <identifiers>
          <isin value="US80290CBF05"/>
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        <balance>458304.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>458370.55000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.45100000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ZOETIS INC</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc</title>
        <cusip>98978VAU7</cusip>
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          <isin value="US98978VAU70"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234613.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVIATION CAPITAL GROUP</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>Aviation Capital Group LLC</title>
        <cusip>05369AAH4</cusip>
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          <isin value="US05369AAH41"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>63768.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20754KAA9</cusip>
        <identifiers>
          <isin value="US20754KAA97"/>
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        <balance>395065.10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>387884.32000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.82800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
        <cusip>517834AH0</cusip>
        <identifiers>
          <isin value="US517834AH06"/>
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        <balance>393000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>363037.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CONTINENTAL RESOURCES</name>
        <lei>XXRTID9RYWOZ0UPIVR53</lei>
        <title>Continental Resources Inc/OK</title>
        <cusip>212015AU5</cusip>
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          <isin value="US212015AU57"/>
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        <balance>618000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535941.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.26800000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atalaya Equipment Leasing Fund I LP</name>
        <lei>N/A</lei>
        <title>Atalaya Equipment Leasing Trust 21-1</title>
        <cusip>046497AB9</cusip>
        <identifiers>
          <isin value="US046497AB91"/>
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        <balance>313070.30000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304039.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.23000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>46647PDG8</cusip>
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          <isin value="US46647PDG81"/>
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        <balance>533000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520357.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust 2021-D</title>
        <cusip>64034YAB7</cusip>
        <identifiers>
          <isin value="US64034YAB74"/>
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        <balance>119374.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107571.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Affirm Inc</name>
        <lei>N/A</lei>
        <title>Affirm Asset Securitization Trust 2021-B</title>
        <cusip>00834DAB9</cusip>
        <identifiers>
          <isin value="US00834DAB91"/>
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        <balance>198000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182805.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.24000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR REMIC Trust 2022-HQA1</title>
        <cusip>35564KTA7</cusip>
        <identifiers>
          <isin value="US35564KTA78"/>
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        <balance>488085.18000000</balance>
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        <curCd>USD</curCd>
        <valUSD>481842.57000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.02800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citibank N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>PURCHASED USD / SOLD JPY</title>
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          <other otherDesc="Trade Identifier" value="22KUKBBZRP8"/>
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        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="130.63872500"/>
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        <pctVal>-0.13851194410</pctVal>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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        <securityLending>
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      <invstOrSec>
        <name>AGL CLO Ltd.</name>
        <lei>54930005OE1IFBESDA27</lei>
        <title>AGL CLO 12 Ltd</title>
        <cusip>00120BAA8</cusip>
        <identifiers>
          <isin value="US00120BAA89"/>
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        <balance>685658.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>668321.82000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>New Jersey Turnpike Authority</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE</title>
        <cusip>646140DP5</cusip>
        <identifiers>
          <isin value="US646140DP58"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112093.21000000</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>2026-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.04700000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PMT Credit Risk Transfer Trust</name>
        <lei>N/A</lei>
        <title>PMT Credit Risk Transfer Trust 2019-3R</title>
        <cusip>69349MAA4</cusip>
        <identifiers>
          <isin value="US69349MAA45"/>
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        <balance>22023.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21063.02000000</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>2031-11-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.08700000</annualizedRt>
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        <name>JPMorgan Chase Bank, NA - CACLN</name>
        <lei>N/A</lei>
        <title>JPMorgan Chase Bank NA - CACLN</title>
        <cusip>46591HAP5</cusip>
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          <isin value="US46591HAP55"/>
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        <balance>111113.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109576.35000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.38900000</annualizedRt>
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      <invstOrSec>
        <name>Banc of America Merrill Lynch Large Loan Inc</name>
        <lei>N/A</lei>
        <title>BAMLL Commercial Mortgage Securities Trust 2013-WBRK</title>
        <cusip>05525BAL4</cusip>
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          <isin value="US05525BAL45"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115221.46000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.53400000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CGD7</cusip>
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          <isin value="US91282CGD74"/>
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        <balance>3088700.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Ashford Hospitality Trust</name>
        <lei>N/A</lei>
        <title>Ashford Hospitality Trust 2018-KEYS</title>
        <cusip>04410CAA7</cusip>
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          <isin value="US04410CAA71"/>
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        <balance>113307.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109077.18000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.31800000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Gold Pool</title>
        <cusip>3128MC6J9</cusip>
        <identifiers>
          <isin value="US3128MC6J97"/>
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        <balance>8747.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8719.78000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CCU3</cusip>
        <identifiers>
          <isin value="US91282CCU36"/>
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        <balance>3984200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3864051.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.12500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>LAD Auto Receivables Trust 2022-1</title>
        <cusip>501687AA5</cusip>
        <identifiers>
          <isin value="US501687AA54"/>
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        <balance>532919.79000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>524384.07000000</valUSD>
        <pctVal>0.177524079525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dext ABS</name>
        <lei>N/A</lei>
        <title>Dext ABS 2021-1 LLC</title>
        <cusip>23345CAA7</cusip>
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          <isin value="US23345CAA71"/>
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        <balance>469210.29000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>448620.31000000</valUSD>
        <pctVal>0.151875146758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.12000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANCO SANTANDER SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>05964HAQ8</cusip>
        <identifiers>
          <isin value="US05964HAQ83"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185358.00000000</valUSD>
        <pctVal>0.062750777941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.17500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tobacco Settlement Finance Authority</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FIN AUTH WV ASSET BACKED</title>
        <cusip>88880LAV5</cusip>
        <identifiers>
          <isin value="US88880LAV53"/>
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        <balance>247735.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>222317.86000000</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>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Carmax Auto Owner Trust 2021-1</title>
        <cusip>14316NAF6</cusip>
        <identifiers>
          <isin value="US14316NAF69"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171917.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.94000000</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>VORNADO REALTY LP</name>
        <lei>549300BMOJ05INE4YK86</lei>
        <title>Vornado Realty LP</title>
        <cusip>929043AK3</cusip>
        <identifiers>
          <isin value="US929043AK39"/>
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        <balance>426000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>360873.12000000</valUSD>
        <pctVal>0.122169364247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3135G0V34</cusip>
        <identifiers>
          <isin value="US3135G0V340"/>
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        <balance>810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>790561.38000000</valUSD>
        <pctVal>0.267635287419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PHILIP MORRIS INTL INC</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc</title>
        <cusip>718172CU1</cusip>
        <identifiers>
          <isin value="US718172CU19"/>
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        <balance>407000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>409079.77000000</valUSD>
        <pctVal>0.138489160476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>30711XAT1</cusip>
        <identifiers>
          <isin value="US30711XAT19"/>
        </identifiers>
        <balance>35145.09000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35760.29000000</valUSD>
        <pctVal>0.012106226960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.68900000</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>KYNDRYL HOLDINGS INC</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings Inc</title>
        <cusip>50155QAJ9</cusip>
        <identifiers>
          <isin value="US50155QAJ94"/>
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        <balance>641000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529985.21000000</valUSD>
        <pctVal>0.179420279809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROSUS NV</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>Prosus NV</title>
        <cusip>74365PAG3</cusip>
        <identifiers>
          <isin value="US74365PAG37"/>
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        <balance>367000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>329382.50000000</valUSD>
        <pctVal>0.111508584012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25700000</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>Wells Fargo Commercial Mortgage Trust</name>
        <lei>5493002S7XBI8CVRR075</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2015-NXS1</title>
        <cusip>94989HAF7</cusip>
        <identifiers>
          <isin value="US94989HAF73"/>
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        <balance>6003.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5990.90000000</valUSD>
        <pctVal>0.002028148963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63200000</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>TSMC ARIZONA CORP</name>
        <lei>2549005GOBWLCSY63Q97</lei>
        <title>TSMC Arizona Corp</title>
        <cusip>872898AF8</cusip>
        <identifiers>
          <isin value="US872898AF83"/>
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        <balance>227000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216969.44000000</valUSD>
        <pctVal>0.073452460371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-22</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>Freddie Mac - STACR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Structured Agency Credit Risk Debt Notes</title>
        <cusip>3137G0EW5</cusip>
        <identifiers>
          <isin value="US3137G0EW56"/>
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        <balance>72916.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73660.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.68900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNH INDUSTRIAL CAP LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH Industrial Capital LLC</title>
        <cusip>12592BAN4</cusip>
        <identifiers>
          <isin value="US12592BAN47"/>
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        <balance>376000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364483.12000000</valUSD>
        <pctVal>0.123391487427</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US 2YR NOTE (CBT) MAR23</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG018JV8511"/>
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        <balance>246.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>28682.40000000</valUSD>
        <pctVal>0.009710090275</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Chicago Board of Trade</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <indexName>CBOT 2 Year U.S. Treasury Notes Futures</indexName>
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      </invstOrSec>
      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>DT Auto Owner Trust 2021-2</title>
        <cusip>23345EAE5</cusip>
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          <isin value="US23345EAE59"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175746.12000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891CAK9</cusip>
        <identifiers>
          <isin value="US44891CAK99"/>
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        <balance>1010000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>902667.30000000</valUSD>
        <pctVal>0.305587432413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>First Investors Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>First Investors Auto Owner Trust 2021-1</title>
        <cusip>32059FAE9</cusip>
        <identifiers>
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        <name>Government National Mortgage Association</name>
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        <name>JAPAN TREASURY DISC BILL</name>
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        <name>INTESA SANPAOLO SPA</name>
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        <name>Freddie Mac - STACR</name>
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      <invstOrSec>
        <name>Elevation CLO Ltd</name>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>PMT CREDIT RISK TRANSFER TRUST</name>
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        <name>Synchrony Financial</name>
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        <title>Synchrony Financial</title>
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        <name>Mission Lane Credit Card Master Trust</name>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
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        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <name>Radnor Re LTD</name>
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        <name>GoldenTree Loan Management US CLO1, LTD</name>
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        <name>Hardee's Funding</name>
        <lei>N/A</lei>
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        <name>JPMorgan Chase Bank, NA - CACLN</name>
        <lei>N/A</lei>
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        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <name>GCT Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>BANK OF IRELAND GROUP</name>
        <lei>635400C8EK6DRI12LJ39</lei>
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          <isin value="US06279JAC36"/>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase Bank, NA - CACLN</name>
        <lei>N/A</lei>
        <title>JPMorgan Chase Bank NA - CACLN</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Avant Loans Funding Trust</name>
        <lei>N/A</lei>
        <title>Avant Loans Funding Trust 2021-REV1</title>
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          <isin value="US05353LAA35"/>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust 2013-GC11</title>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>GSF 2021 1 ISSUER LLC</name>
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      <invstOrSec>
        <name>CPS Auto Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust 2021-C</title>
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        <balance>367736.95000000</balance>
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        <name>FEDERAL HOME LOAN BANK</name>
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        <title>Federal Home Loan Banks</title>
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        <balance>750000.00000000</balance>
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      <invstOrSec>
        <name>Conn Funding II, L.P</name>
        <lei>N/A</lei>
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        <name>COLONY MORTGAGE CAPITAL LTD</name>
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      <invstOrSec>
        <name>Santander Bank Auto Credit-Linked Notes</name>
        <lei>N/A</lei>
        <title>Santander Bank Auto Credit-Linked Notes Series 2022-B</title>
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      <invstOrSec>
        <name>BELLEMEADE RE LT</name>
        <lei>N/A</lei>
        <title>Bellemeade Re Ltd</title>
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          <isin value="US07876AAA16"/>
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        <balance>256126.47000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <debtSec>
          <maturityDt>2031-06-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Freddie Mac - STACR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac STACR REMIC Trust 2022-DNA5</title>
        <cusip>35564KYN3</cusip>
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          <isin value="US35564KYN35"/>
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        <balance>445713.79000000</balance>
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        <curCd>USD</curCd>
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        <name>AMERICAN TOWER CORP</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp</title>
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        <balance>235000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR REMIC Trust 2022-DNA6</title>
        <cusip>35564KH36</cusip>
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        <balance>363376.85000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage Securities LLC</name>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <name>Freddie Mac - STACR</name>
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        <name>VAR ENERGI ASA</name>
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      <invstOrSec>
        <name>Flagship Credit Auto Trust</name>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae REMICS</title>
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        <name>HARLEY-DAVIDSON FINL SER</name>
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        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
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        <name>BFLD Trust</name>
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        <name>PUBLIC SERVICE ENTERPRIS</name>
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        <title>Public Service Enterprise Group Inc</title>
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        <name>Natixis Commercial Mortgage Securities</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust 2019-MILE</title>
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      <invstOrSec>
        <name>Osaka Exchange</name>
        <lei>3538001249AILNPRUX57</lei>
        <title>JPN 10Y BOND(OSE) MAR23</title>
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              <indexBasketInfo>
                <indexName>OSE Japanese 10 Year Bond Futures</indexName>
                <indexIdentifier>JBH2 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2023-03-13</expDate>
            <notionalAmt>-1334979060.00000000</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>196884.03000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WARNERMEDIA HOLDINGS INC</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Warnermedia Holdings Inc</title>
        <cusip>55903VAU7</cusip>
        <identifiers>
          <isin value="US55903VAU70"/>
        </identifiers>
        <balance>359000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>343247.08000000</valUSD>
        <pctVal>0.116202275036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.78800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CFQ9</cusip>
        <identifiers>
          <isin value="US91282CFQ96"/>
        </identifiers>
        <balance>11469800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11441125.50000000</valUSD>
        <pctVal>3.873258913298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>City of New York NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>NEW YORK NY</title>
        <cusip>64966QZX1</cusip>
        <identifiers>
          <isin value="US64966QZX14"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>240583.62000000</valUSD>
        <pctVal>0.081446764180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.98200000</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>NATIONWIDE BLDG SOCIETY</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAF4</cusip>
        <identifiers>
          <isin value="US63861VAF40"/>
        </identifiers>
        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>272970.50000000</valUSD>
        <pctVal>0.092410962732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.97200000</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>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US ULTRA BOND CBT MAR23</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG0186GJZF5"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3529.77000000</valUSD>
        <pctVal>0.001194962253</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Chicago Board of Trade</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CBOT Ultra Long Term U.S. Treasury Bond Futures</indexName>
                <indexIdentifier>WNH3 Comdty</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2023-03-22</expDate>
            <notionalAmt>-137842.27000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>3529.77000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CREDIT SUISSE GROUP AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
        <cusip>225401AY4</cusip>
        <identifiers>
          <isin value="US225401AY40"/>
        </identifiers>
        <balance>479000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449733.10000000</valUSD>
        <pctVal>0.152251868767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37300000</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>WEA FINANCE LLC/WESTFIEL</name>
        <lei>N/A</lei>
        <title>WEA Finance LLC / Westfield UK &amp; Europe Finance PLC</title>
        <cusip>92890HAC6</cusip>
        <identifiers>
          <isin value="US92890HAC60"/>
        </identifiers>
        <balance>1072000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013243.68000000</valUSD>
        <pctVal>0.343021769571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="If the RIC is part of the securities lending authorization agreement and has engaged in securities lending, the cash collateral will be adjusted on the next business day to maintain the required collateral amount." noteItem="C.12.a"/>
      <explntrNote note="If the fund holds Capital Contingent Convertible Notes, conversion to an issuing bank's common stock occurs should its capital fall beneath a specified threshold. The conversion of debt to equity will rebalance the issuer's debt to equity ratio, but as this amount is not known until the contingent event's occurrence, question c.9.f.iv will be represented as 1." noteItem="C.9.f.iv"/>
      <explntrNote note="For the applicable funds using IBOR rates, IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate" noteItem="C.11.f.i.2"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-06-20</ncom:dateSigned>
      <ncom:nameOfApplicant>BERNSTEIN SANFORD C FUND INC</ncom:nameOfApplicant>
      <ncom:signature>Joseph Mantineo</ncom:signature>
      <ncom:signerName>Joseph Mantineo</ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
