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      <invstOrSec>
        <name>TEVA PHARMACEUTICALS NE</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
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        <name>Keycorp Student Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-15</maturityDt>
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      <invstOrSec>
        <name>OSAKA EXCHANGE,INC</name>
        <lei>3538001249AILNPRUX57</lei>
        <title>JPN 10Y BOND(OSE)</title>
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          <ticker value="JBU3"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01BYTL3Q5"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ROYAL CARIBBEAN CRUISES</name>
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        <title>Royal Caribbean Cruises Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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      <invstOrSec>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <fairValLevel>1</fairValLevel>
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                <issuerName>INTERCONTENTIAL EXCHANGE</issuerName>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>1</fairValLevel>
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                      <ticker value="TYU3"/>
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            <shareNo>100000.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-4831.53000000</unrealizedAppr>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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          <ticker value="SFRH4P95"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00SHLTM67"/>
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        <curCd>USD</curCd>
        <valUSD>-227500.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
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                  <derivAddlInfo>
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                    <cusip>000000000</cusip>
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                      <ticker value="SFRH4"/>
                      <other otherDesc="ID_BB_GLOBAL" value="BBG00PD5VSV8"/>
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                  <payOffProf>Short</payOffProf>
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                      <issuerName>THE SECURED OVERNIGHT FINANCING RATE</issuerName>
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                        <cusip value="000000000"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-36836.80000000</unrealizedAppr>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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          <ticker value="0QV3P97"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01G923N05"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
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                      <ticker value="0QZ4"/>
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      <invstOrSec>
        <name>PACIFIC GAS &amp; ELECTRIC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <ticker value="USU3C129"/>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
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        <balance>5280000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>ICE FUTURES EUROPE</name>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Berry Corp</name>
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        <title>Amazon.com Inc</title>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEVON ENERGY CORPORATION</name>
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        <name>PETROLEOS MEXICANOS</name>
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        <name>MHC Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>1011778 BC / NEW RED FIN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>Asurion LLC</name>
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        <name>Credit Suisse Mortgage Trust</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>ENEL FINANCE INTL NV</name>
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        <invCountry>AR</invCountry>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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      <invstOrSec>
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        <name>Bank of America, National Association</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>OCCIDENTAL PETROLEUM COR</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>PETROBRAS GLOBAL FINANCE</name>
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        <balance>1490000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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          <other otherDesc="INTERNAL" value="FXUSINP0036"/>
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        <balance>4190000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Put</putOrCall>
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                    <invOthCountry>US</invOthCountry>
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            <delta>XXXX</delta>
            <unrealizedAppr>-16197.92000000</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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          <other otherDesc="INTERNAL" value="GJ3HOJFQG18T7NFH"/>
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      <invstOrSec>
        <name>BAUSCH HEALTH COS INC</name>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>CCO HLDGS LLC/CAP CORP</name>
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        <debtSec>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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                  <payOffProf>Short</payOffProf>
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                      <issueTitle>THE SECURED OVERNIGHT FINANCING RATE</issueTitle>
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        <name>EQT CORP</name>
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      <invstOrSec>
        <name>Elmwood CLO II Ltd.</name>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SANDS CHINA LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>IVORY COAST</name>
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        <name>GS Mortgage Securities Trust</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Western Asset Premier Institutional Government Reserves</name>
        <lei>549300WB3XRN9YTWFB76</lei>
        <title>Western Asset Premier Institutional Government Reserves</title>
        <cusip>52470G494</cusip>
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          <isin value="US52470G4947"/>
          <ticker value="WACXX"/>
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        <balance>17009304.35000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17009304.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDONESIA GOVERNMENT</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Indonesia Treasury Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IDG000020801"/>
          <other otherDesc="SEDOL" value="BPK4YK4"/>
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        <balance>86483000000.00000000</balance>
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        <currencyConditional curCd="IDR" exchangeRt="15080.00000000"/>
        <valUSD>6040849.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKIES EXPRESS PIPELINE</name>
        <lei>W2ZGZGZKY5GGNY6F3V51</lei>
        <title>Rockies Express Pipeline LLC</title>
        <cusip>77340RAM9</cusip>
        <identifiers>
          <isin value="US77340RAM97"/>
          <other otherDesc="SEDOL" value="B4SZ6J5"/>
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        <balance>1180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1068962.00000000</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>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PLAINS ALL AMER PIPELINE</name>
        <lei>N/A</lei>
        <title>Plains All American Pipeline LP / PAA Finance Corp</title>
        <cusip>72650RAM4</cusip>
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          <isin value="US72650RAM43"/>
          <other otherDesc="SEDOL" value="B1LGQ83"/>
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        <balance>560000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>558858.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DEVON ENERGY CORPORATION</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>Devon Energy Corp</title>
        <cusip>25179SAD2</cusip>
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          <isin value="US25179SAD27"/>
          <other otherDesc="SEDOL" value="2864925"/>
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        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249527.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.87500000</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>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>IRS USD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="SW0WS075820"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>92624.87000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="THE SECURED OVERNIGHT FINANCING RATE" floatingRtSpread="0.00000000" pmntAmt="28259000.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Day" resetDtUnit="1"/>
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            <fixedPmntDesc amount="N/A" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.85000000"/>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-14603.65000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-28259000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>107228.52000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RUSSIA GOVT BOND - OFZ</name>
        <lei>5493004EHVGF71PDBU58</lei>
        <title>Russian Federal Bond - OFZ</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="RU000A0JS3W6"/>
          <other otherDesc="SEDOL" value="B87PXW6"/>
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        <balance>548657000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="RUB" exchangeRt="91.75000000"/>
        <valUSD>2980986.53000000</valUSD>
        <pctVal>0.706785814050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>Y</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>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VAJ9</cusip>
        <identifiers>
          <isin value="US29273VAJ98"/>
          <other otherDesc="SEDOL" value="BMHR7V7"/>
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        <balance>3450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2747062.50000000</valUSD>
        <pctVal>0.651322904606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions)</name>
        <lei>549300O6QPZVWXV2DC15</lei>
        <title>Prime Security Services Borrower LLC</title>
        <cusip>03765VAK6</cusip>
        <identifiers>
          <isin value="US03765VAK61"/>
          <other otherDesc="INTERNAL" value="BL3543768"/>
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        <balance>838889.17650000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>838977.26000000</valUSD>
        <pctVal>0.198919793736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.97748000</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>AERCAP IRELAND CAP/GLOBA</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</title>
        <cusip>00774MAX3</cusip>
        <identifiers>
          <isin value="US00774MAX39"/>
          <other otherDesc="SEDOL" value="BP2DYH6"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139554.11000000</valUSD>
        <pctVal>0.033087994275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>10 YEAR US TREASURY NOTE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="TYU3C112"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01C3J9JY9"/>
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        <balance>104.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>55250.00000000</valUSD>
        <pctVal>0.013099662086</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                      <ticker value="TYU3"/>
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                      <issuerName>US TREASURY N/B</issuerName>
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                        <isin value="US91282CGS44"/>
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            <shareNo>100000.00000000</shareNo>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>LifePoint Health Inc</name>
        <lei>549300G8ZVHRTBBBSZ90</lei>
        <title>LifePoint Health Inc</title>
        <cusip>75915TAD4</cusip>
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          <isin value="US75915TAD46"/>
          <other otherDesc="INTERNAL" value="BL3282532"/>
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        <balance>671577.61450000</balance>
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        <valUSD>663810.82000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>SOFR 1 YEAR MIDCURVE</title>
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          <ticker value="0QZ3P95.25"/>
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        <balance>-332.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-130725.00000000</valUSD>
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        <invCountry>US</invCountry>
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                      <ticker value="0QZ4"/>
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                    <balance>0.00000000</balance>
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                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
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                    <invCountry>US</invCountry>
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                  <payOffProf>Short</payOffProf>
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                      <issueTitle>THE SECURED OVERNIGHT FINANCING RATE</issueTitle>
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                  <expDate>2025-03-18</expDate>
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            <shareNo>2500.00000000</shareNo>
            <exercisePrice>95.25000000</exercisePrice>
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            <expDt>2023-12-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1377.80000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Residential Asset Securitizati</name>
        <lei>N/A</lei>
        <title>Residential Asset Securitization Trust 2005-A15</title>
        <cusip>45660L4B2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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              <title>DISH Network Corp</title>
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        <name>HCA INC</name>
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        <name>Charter Communications Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF ANGOLA</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>PLAINS ALL AMERICAN PIPE</name>
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        <title>Plains All American Pipeline LP</title>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>NOTA DO TESOURO NACIONAL</name>
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      <invstOrSec>
        <name>DCP MIDSTREAM OPERATING</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>INDONESIA GOVERNMENT</name>
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        <name>Residential Asset Securitizati</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <title>Argentine Republic Government International Bond</title>
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        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae or Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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            <unrealizedAppr>-232146.65000000</unrealizedAppr>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECOPETROL SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
        <cusip>279158AL3</cusip>
        <identifiers>
          <isin value="US279158AL39"/>
          <other otherDesc="SEDOL" value="BYSLBC1"/>
        </identifiers>
        <balance>2090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2013327.93000000</valUSD>
        <pctVal>0.477355937585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CREDIT SUISSE GROUP AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
        <cusip>225401AJ7</cusip>
        <identifiers>
          <isin value="US225401AJ72"/>
          <other otherDesc="SEDOL" value="BDD89F9"/>
        </identifiers>
        <balance>570000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34200.00000000</valUSD>
        <pctVal>0.008108750105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US ULTRA TREASURY BOND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="WNU3"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01BZ6PH98"/>
        </identifiers>
        <balance>408.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1096189.43000000</valUSD>
        <pctVal>-0.25990427358</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>US TREASURY N/B</issuerName>
                <issueTitle>United States Treasury Note/Bond</issueTitle>
                <identifiers>
                  <cusip value="912810SE9"/>
                  <isin value="US912810SE91"/>
                  <other otherDesc="SEDOL" value="BGRW851"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2023-09-20</expDate>
            <notionalAmt>55041439.43000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1096189.43000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-09-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Western Asset Funds Inc</ncom:nameOfApplicant>
      <ncom:signature>Christopher Berarducci</ncom:signature>
      <ncom:signerName>Christopher Berarducci</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
