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        <issuerCat>UST</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST</name>
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        <cusip>46639YAW7</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA ALTERNATIVE LOAN TRUST</name>
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        <cusip>05948XTV3</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>WILLIS ENGINE STRUCTURED TRUST</name>
        <lei>N/A</lei>
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          <isin value="US97064YAA29"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>OCP CLO LTD</name>
        <lei>N/A</lei>
        <title>OCP CLO 2019-17 LTD OCP 2019-17A ER</title>
        <cusip>67113MAE4</cusip>
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          <isin value="US67113MAE49"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WFRBS COMMERCIAL MORTGAGE TRUST</name>
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          <isin value="US92936CAY57"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797FH58"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>WFRBS COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>WFRBS COMMERCIAL MORTGAGE TRUST 2011-C3 WFRBS 2011-C3 D</title>
        <cusip>92935VAS7</cusip>
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          <isin value="US92935VAS79"/>
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        <balance>854828.03000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.04965960</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EXTENDED STAY AMERICA TRUST</name>
        <lei>N/A</lei>
        <title>EXTENDED STAY AMERICA TRUST 2021-ESH ESA 2021-ESH F</title>
        <cusip>30227FAN0</cusip>
        <identifiers>
          <isin value="US30227FAN06"/>
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        <balance>2720728.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2707125.29000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.14748120</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>
        <name>AIM AVIATION FINANCE LIMITED</name>
        <lei>N/A</lei>
        <title>AIM AVIATION FINANCE LTD DCAL 2015-1A B1</title>
        <cusip>001406AB3</cusip>
        <identifiers>
          <isin value="US001406AB39"/>
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        <balance>8883377.51000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1866042.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.07200000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC STACR REMIC TRUST</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC STACR REMIC TRUST 2021-DNA3 STACR 2021-DNA3 B1</title>
        <cusip>35564KFG9</cusip>
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          <isin value="US35564KFG94"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2196260.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAIN CAPITAL CREDIT CLO</name>
        <lei>N/A</lei>
        <title>BAIN CAPITAL CREDIT CLO 2019-2 BCC 2019-2A AR</title>
        <cusip>05682LAJ6</cusip>
        <identifiers>
          <isin value="US05682LAJ61"/>
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        <balance>2220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2220783.66000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.67814040</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RBSCF TRUST</name>
        <lei>N/A</lei>
        <title>RBS COMMERCIAL FUNDING INC 2013-SMV TRUST RBSCF 2013-SMV F</title>
        <cusip>74932BAQ6</cusip>
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          <isin value="US74932BAQ68"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>PRESTIGE AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>PRESTIGE AUTO RECEIVABLES TRUST 2023-1 PART 2023-1A E</title>
        <cusip>74113GAN3</cusip>
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          <isin value="US74113GAN34"/>
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        <name>FALCON AEROSPACE LIMITED</name>
        <lei>N/A</lei>
        <title>FALCON AEROSPACE LTD 2017-1 FLCON 2017-1 A</title>
        <cusip>30605YAB7</cusip>
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          <isin value="US30605YAB74"/>
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          <couponKind>Fixed</couponKind>
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        <name>FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST</name>
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        <title>FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST 202 FCRT 2023-2 E</title>
        <cusip>35104AAF5</cusip>
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          <isin value="US35104AAF57"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>10.98000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>HERTZ VEHICLE FINANCING III LLC</name>
        <lei>N/A</lei>
        <title>HERTZ VEHICLE FINANCING III LLC HERTZ 2022-1A D</title>
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          <isin value="US42806MAM10"/>
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        <curCd>USD</curCd>
        <valUSD>996808.18000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIG CLO</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CIG AUTO RECEIVABLES TRUST</name>
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        <name>PRPM LLC</name>
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        <name>MED TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AIG CLO</name>
        <lei>N/A</lei>
        <title>CLOVER CLO 2018-1 LLC CLVR 2018-1A ER</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
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        <name>CONNECTICUT AVENUE SECURITIES</name>
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        <name>MED TRUST</name>
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        <name>MAGNETITE CLO, LIMITED</name>
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        <name>HILTON GRAND VACATIONS TRUST</name>
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        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LEHMAN XS TRUST MORTGAGE PASS-THROUGH CERTIFICATES</name>
        <lei>N/A</lei>
        <title>LEHMAN XS TRUST SERIES 2006-2N LXS 2006-2N 1A1</title>
        <cusip>525221HA8</cusip>
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          <isin value="US525221HA83"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>EWC MASTER ISSUER LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>WAVE LLC</name>
        <lei>N/A</lei>
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          <isin value="US94353WAA36"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WFRBS COMMERCIAL MORTGAGE TRUST 2012-C7</name>
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        <name>ELMWOOD CLO</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>SCF EQUIPMENT LEASING LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>WILLIS ENGINE STRUCTURED TRUST</name>
        <lei>N/A</lei>
        <title>WILLIS ENGINE STRUCTURED TRUST IV WESTF 2018-A B</title>
        <cusip>97064EAC2</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>MORGAN STANLEY CAPITAL I INC.</name>
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        <title>MORGAN STANLEY CAPITAL I TRUST 2011-C2 MSC 2011-C2 E</title>
        <cusip>617459AK8</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>TRESTLES CLO LTD</name>
        <lei>N/A</lei>
        <title>TRESTLES CLO II LTD TREST 2018-2A D</title>
        <cusip>89531VAA0</cusip>
        <identifiers>
          <isin value="US89531VAA08"/>
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        <balance>415000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC STACR REMIC TRUST</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC STACR REMIC TRUST 2020-DNA6 STACR 2020-DNA6 B1</title>
        <cusip>35566CBD6</cusip>
        <identifiers>
          <isin value="US35566CBD65"/>
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        <balance>2000000.00000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CSMC TRUST</name>
        <lei>N/A</lei>
        <title>CSMC 2014-USA OA LLC CSMC 2014-USA E</title>
        <cusip>12649AAQ2</cusip>
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          <couponKind>Fixed</couponKind>
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        <name>CARVANA AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIVABLES TRUST 2022-P1 CRVNA 2022-P1 A3</title>
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        <name>STARWOOD RETAIL PROPERTY TRUST</name>
        <lei>N/A</lei>
        <title>STARWOOD RETAIL PROPERTY TRUST 2014-STAR SRPT 2014-STAR E</title>
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        <invCountry>US</invCountry>

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        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>RESIDENTIAL FUNDING MORTGAGE SECURITIES INCORPORATED</name>
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        <title>RFMSI SERIES 2005-SA1 TRUST RFMSI 2005-SA1 1A1</title>
        <cusip>76111XTB9</cusip>
        <identifiers>
          <isin value="US76111XTB90"/>
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        <invCountry>US</invCountry>

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        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.85163720</annualizedRt>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC REMICS FHR 5365 LY</title>
        <cusip>3137HB4W1</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>VOLT LLC</name>
        <lei>N/A</lei>
        <title>VOLT XCVI LLC VOLT 2021-NPL5 A2</title>
        <cusip>92873FAB3</cusip>
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          <isin value="US92873FAB31"/>
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        <balance>640000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>562541.25000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.82620000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>AVIS BUDGET RENTAL CAR FUNDING</name>
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      <invstOrSec>
        <name>BANC OF AMERICA FUNDING CORPORATION</name>
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      <invstOrSec>
        <name>INDYMAC INDX MORTGAGE LOAN TRUST</name>
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        <name>522 FUNDING CLO LTD</name>
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        <name>PIKES PEAK CLO</name>
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        <name>Shenton Aircraft Investment I</name>
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        <name>FIRSTKEY HOMES TRUST</name>
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        <name>MADISON PARK FUNDING, LTD.</name>
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        <name>CARVANA AUTO RECEIVABLES TRUST</name>
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        <name>SIERRA TIMESHARE RECEIVABLES FUNDING LLC</name>
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        <name>Freddie Mac</name>
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        <name>WELK RESORTS</name>
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        <name>PRESTIGE AUTO RECEIVABLES TRUST</name>
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        <name>GS MORTGAGE SECURITIES TRUST</name>
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        <name>GS MORTGAGE SECURITIES TRUST</name>
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        <name>PLANET FITNESS MASTER ISSUER LLC</name>
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        <name>CHASE AUTO CREDIT LINKED NOTES</name>
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        <name>LABRADOR AVIATION FIN LTD SER 2016</name>
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        <name>PALMER SQUARE CLO</name>
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        <name>PRPM LLC</name>
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        <name>FIRST INVESTORS AUTO OWNER TRUST</name>
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        <name>GALAXY CLO, LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COMM MORTGAGE TRUST</name>
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        <title>COMM 2014-UBS4 MORTGAGE TRUST COMM 2014-UBS4 AM</title>
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        <name>N/A</name>
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        <name>SOLRR AIRCRAFT LIMITED</name>
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        <title>LUNAR 2021-1 STRUCTURED AIRCRAFT PORTFOLIO NOTES SOLRR 2021-1 B</title>
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        <name>GSR MORTGAGE LOAN TRUST</name>
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        <title>GSR MORTGAGE LOAN TRUST 2005-AR4 GSR 2005-AR4 4A1</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TRICON AMERICAN HOMES TRUST</name>
        <lei>N/A</lei>
        <title>TRICON AMERICAN HOMES 2020-SFR1 TAH 2020-SFR1 F</title>
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        <name>WILLIS ENGINE STRUCTURED TRUST</name>
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        <name>MASTR ALTERNATIVE LOAN TR</name>
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        <name>COREVEST AMERICAN FINANCE</name>
        <lei>N/A</lei>
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        <name>COMM MORTGAGE TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST</name>
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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
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        <name>STELLAR JAY IRELAND DAC</name>
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        <name>ALLEGRO CLO LTD</name>
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        <name>VOLT LLC</name>
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        <name>HUNDSON'S BAY SIMON JV TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>TOWD POINT MORTGAGE TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST</name>
        <lei>N/A</lei>
        <title>JPMBB COMMERCIAL MORTGAGE SECURITIES TRUST 2014-C2 JPMBB 2014-C24 AS</title>
        <cusip>46643GAJ9</cusip>
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        <name>MASTR ALTERNATIVE LOAN TR</name>
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        <name>SANTANDER BANK, N.A.</name>
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        <name>AUXILIOR TERM FUNDING LLC</name>
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        <name>COLLEGE AVE STUDENT LOANS LLC</name>
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        <name>CGCCRE COMMERCIAL MORTGAGE TRUST</name>
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        <name>AFFIRM ASSET SECURITIZATION TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>CGCCRE COMMERCIAL MORTGAGE TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SCF EQUIPMENT LEASING LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARLETTE FUNDING TRUST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FREDDIE MAC STACR REMIC TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BPR TRUST</name>
        <lei>N/A</lei>
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          <isin value="US05602HAL78"/>
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        <name>MAPS LTD</name>
        <lei>N/A</lei>
        <title>MAPS 2018-1 LTD MAPSL 2018-1A B</title>
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          <isin value="US56564RAB69"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>WILLIS ENGINE STRUCTURED TRUST</name>
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          <isin value="US97064FAC95"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UBS COMMERCIAL MORTGAGE TRUST</name>
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        <title>UBS COMMERCIAL MORTGAGE TRUST 2018-C14 UBSCM 2018-C14 C</title>
        <cusip>90278KBF7</cusip>
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          <isin value="US90278KBF75"/>
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        <balance>1885000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>WFRBS COMMERCIAL MORTGAGE TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PROGRESS RESIDENTIAL MASTER TRUST</name>
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        <title>PROGRESS RESIDENTIAL 2021-SFR1 PROG 2021-SFR1 F</title>
        <cusip>74331FAL5</cusip>
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        <name>COUNTRYWIDE HOME LOANS INC</name>
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        <title>CHL MORTGAGE PASS-THROUGH TRUST 2004-12 CWHL 2004-12 8A1</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>MERCHANTS FLEET FUNDING LLC</name>
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          <isin value="US588926AD75"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
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        <title>CITIGROUP MORTGAGE LOAN TRUST 2005-3 CMLTI 2005-3 2A3</title>
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          <isin value="US17307GTL22"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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        <name>AIMCO CLO</name>
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        <title>AIMCO CLO SERIES 2017-A AIMCO 2017-AA DR</title>
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          <isin value="US00900CAS35"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>OHA CREDIT FUNDING LTD</name>
        <lei>N/A</lei>
        <title>OHA CREDIT FUNDING 3 LTD OAKC 2019-3A ER</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-02</maturityDt>
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          <annualizedRt>11.82942000</annualizedRt>
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        <name>MASTR ALTERNATIVE LOAN TR</name>
        <lei>N/A</lei>
        <title>MASTR ALTERNATIVE LOAN TRUST 2003-9 MALT 2003-9 4A1</title>
        <cusip>576434KX1</cusip>
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          <isin value="US576434KX12"/>
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        <balance>213001.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206165.52000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>SIERRA TIMESHARE RECEIVABLES FUNDING LLC</name>
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        <cusip>826525AD9</cusip>
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          <isin value="US826525AD90"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANC OF AMERICA FUNDING CORPORATION</name>
        <lei>N/A</lei>
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          <isin value="US05946XS615"/>
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        <balance>250928.07000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MASTR ALTERNATIVE LOAN TR</name>
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          <isin value="US576434RG16"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MORGAN STANLEY CAPITAL I TRUST</name>
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          <isin value="US61760VAE39"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>United States of America</name>
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          <isin value="US912797LL96"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>37 CAPITAL CLO LTD</name>
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          <isin value="US88430QAA58"/>
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        <name>BATTALION CLO LTD</name>
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        <title>BATTALION CLO XVI LTD BATLN 2019-16A ER</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>THAYER PARK CLO LTD</name>
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        <title>THAYER PARK CLO LTD THAYR 2017-1A DR</title>
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          <isin value="US88330PAE07"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>WILLIS ENGINE STRUCTURED TRUST</name>
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        <identifiers>
          <isin value="US97064FAA30"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CASTLELAKE AIRCRAFT SECURITIZATION TRUST</name>
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          <isin value="US14856CAB54"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDENTREE LOAN MANAGEMENT US CLO LTD</name>
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        <title>GOLDENTREE LOAN MANAGEMENT US CLO 2 LTD GLM 2017-2A D</title>
        <cusip>38136MAQ1</cusip>
        <identifiers>
          <isin value="US38136MAQ15"/>
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        <balance>250000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>ECAF I BLOCKER LTD</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HERTZ VEHICLE FINANCING III LLC</name>
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        <name>KESTREL AIRCRAFT FUNDING LTD</name>
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          <isin value="US49255PAA12"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>MARINER FINANCE ISSUANCE TRUST</name>
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        <title>MARINER FINANCE ISSUANCE TRUST 2023-A MFIT 2023-AA E</title>
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          <isin value="US56847FAE51"/>
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        <name>CIFC FUNDING LTD</name>
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        <title>CIFC FUNDING 2017-V LTD CIFC 2017-5A C</title>
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          <isin value="US12551MAG42"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STARWOOD RETAIL PROPERTY TRUST</name>
        <lei>N/A</lei>
        <title>STARWOOD RETAIL PROPERTY TRUST 2014-STAR SRPT 2014-STAR F</title>
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          <isin value="US85571XAU19"/>
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        <balance>3040405.44000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>CSMC TRUST</name>
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      <invstOrSec>
        <name>GS MORTGAGE SECURITIES CORPORATION TRUST</name>
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      <invstOrSec>
        <name>WILLIS ENGINE STRUCTURED TRUST</name>
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      <invstOrSec>
        <name>GLS AUTO RECEIVABLES TRUST</name>
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          <isin value="US36263DAE76"/>
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      <invstOrSec>
        <name>MORGAN STANLEY MORTGAGE LOAN TRUST</name>
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        <title>MORGAN STANLEY MORTGAGE LOAN TRUST 2005-7 MSM 2005-7 7A5</title>
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          <isin value="US61748HPQ82"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CSMC TRUST</name>
        <lei>N/A</lei>
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          <isin value="US12649AAL35"/>
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        <name>MAPS LTD</name>
        <lei>N/A</lei>
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          <isin value="US55292RAC51"/>
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        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST</name>
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        <cusip>61762TAH9</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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        <name>CWALT, INC (COUNTRYWIDE ALTERNATIVE LOAN TRUST)</name>
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        <cusip>12667FVB8</cusip>
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          <isin value="US12667FVB83"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>SANTANDER BANK, N.A.</name>
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        <cusip>80290CCF9</cusip>
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        <name>GLS AUTO SELECT RECEIVABLES TRUST</name>
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        <title>GLS AUTO SELECT RECEIVABLES TRUST 2023-2 GSAR 2023-2A D</title>
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        <name>United States of America</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00000000</annualizedRt>
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        <name>DEUTSCHE MORTGAGE SECURITIES MORTGAGE LOAN TRUST</name>
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        <title>DEUTSCHE MORTGAGE SEC INC MORT LOAN TR SER 2004-1 DMSI 2004-1 3A5</title>
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        <name>BPR TRUST</name>
        <lei>N/A</lei>
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          <isin value="US05602HAA14"/>
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        <name>CITIGROUP COMMERCIAL MORTGAGE TRUST</name>
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        <title>CITIGROUP COMMERCIAL MORTGAGE TRUST 2014-GC21 CGCMT 2014-GC21 D</title>
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          <isin value="US17322MAA45"/>
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        <name>MERCURY FINANCIAL CREDIT CARD MASTER TRUST</name>
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        <title>MERCURY FINANCIAL CREDIT CARD MASTER TRUST MFCC 2022-1A C</title>
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          <isin value="US58940BAG14"/>
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      <invstOrSec>
        <name>OAKTREE CLO LTD</name>
        <lei>N/A</lei>
        <title>OAKTREE CLO 2019-4 LTD OAKCL 2019-4A E</title>
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        <name>STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST</name>
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        <name>MISSION LANE CREDIT CARD MASTER TRUST</name>
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        <name>MILL CITY MORTGAGE LOAN TRUST</name>
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        <name>PRPM LLC</name>
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        <name>J.P. MORGAN MORTGAGE TRUST</name>
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        <name>CARVAL CLO LTD</name>
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        <name>BLACKBIRD CAPITAL AIRCRAFT LEASE SECURITIZATION LIMITED</name>
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        <name>MED TRUST</name>
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        <name>CREDIT ACCEPTANCE AUTO LOAN TRUST</name>
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          <isin value="US05592CAQ96"/>
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        <name>DRYDEN SENIOR LOAN FUND</name>
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        <name>PROGRESS RESIDENTIAL MASTER TRUST</name>
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      <invstOrSec>
        <name>ROCKLAND PARK CLO</name>
        <lei>N/A</lei>
        <title>ROCKLAND PARK CLO LTD ROCKP 2021-1A E</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COMM MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>COMM 2014-CCRE21 MORTGAGE TRUST COMM 2014-CR21 AM</title>
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      <invstOrSec>
        <name>AGL CLO LTD</name>
        <lei>N/A</lei>
        <title>AGL CLO 3 LTD AGL 2020-3A D</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CWALT, INC (COUNTRYWIDE ALTERNATIVE LOAN TRUST)</name>
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        <title>ALTERNATIVE LOAN TRUST 2004-28CB CWALT 2004-28CB 5A1</title>
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        <name>TAILWIND 2019-1 LTD</name>
        <lei>N/A</lei>
        <title>GAIA AVIATION LTD TLWND 2019-1 C</title>
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        <name>CWALT, INC (COUNTRYWIDE ALTERNATIVE LOAN TRUST)</name>
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      <invstOrSec>
        <name>GS MORTGAGE SECURITIES TRUST</name>
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        <title>GS MORTGAGE SECURITIES TRUST 2011-GC5 GSMS 2011-GC5 C</title>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>ELMWOOD CLO</name>
        <lei>N/A</lei>
        <title>ELMWOOD CLO VIII LTD ELMW8 2021-1A D1</title>
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          <isin value="US29003EAG08"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INDYMAC INDX MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>INDYMAC INDX MORTGAGE LOAN TRUST 2004-AR6 INDX 2004-AR6 4A</title>
        <cusip>45660NX75</cusip>
        <identifiers>
          <isin value="US45660NX755"/>
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        <balance>646295.28000000</balance>
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        <valUSD>602729.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THUNDERBOLT AIRCRAFT LEASE LIMITED</name>
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        <name>PRPM LLC</name>
        <lei>N/A</lei>
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        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST</name>
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        <name>GS MORTGAGE SECURITIES CORPORATION TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CIFC FUNDING LTD</name>
        <lei>N/A</lei>
        <title>CIFC FUNDING 2018-I LTD CIFC 2018-1A D</title>
        <cusip>12551RAG3</cusip>
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          <isin value="US12551RAG39"/>
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        <balance>365000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
        <lei>N/A</lei>
        <title>CITIGROUP MORTGAGE LOAN TRUST 2019-RP1 CMLTI 2019-RP1 M3</title>
        <cusip>17327RAD2</cusip>
        <identifiers>
          <isin value="US17327RAD26"/>
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        <balance>1005000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BPR TRUST</name>
        <lei>N/A</lei>
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          <isin value="US055980AA48"/>
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        <name>OCP CLO LTD</name>
        <lei>N/A</lei>
        <title>OCP CLO 2018-15 LTD OCP 2018-15A D</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>CWALT, INC (COUNTRYWIDE ALTERNATIVE LOAN TRUST)</name>
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          <isin value="US12667FMX05"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PRESTIGE AUTO RECEIVABLES TRUST</name>
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        <name>AGL CLO LTD</name>
        <lei>N/A</lei>
        <title>AGL CLO 7 LTD AGL 2020-7A ER</title>
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          <isin value="US008510AE91"/>
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        <issuerCat>CORP</issuerCat>
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        <name>SEACUBE CONTAINER CLIF</name>
        <lei>N/A</lei>
        <title>CLI FUNDING VI LLC CLIF 2020-3A B</title>
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        <name>AASET TRUST</name>
        <lei>N/A</lei>
        <title>AASET 2017-1 TRUST AASET 2017-1A C</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST</name>
        <lei>N/A</lei>
        <title>MSBAM COMMERCIAL MORTGAGE SECURITIES TRUST 2012-CK MSBAM 2012-CKSV D</title>
        <cusip>553514AN0</cusip>
        <identifiers>
          <isin value="US553514AN00"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154740.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>CAL FUNDING LIMITED</name>
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        <name>VSTRONG AUTO RECEIVABLES TRUST</name>
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        <name>BHG SECURITIZATION TRUST</name>
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        <name>SANTANDER BANK, N.A.</name>
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          <annualizedRt>11.36600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>HARBOUR AIRCRAFT INVESTMENTS LTD HAIL 2017-1 A</title>
        <cusip>G4301UAF1</cusip>
        <identifiers>
          <isin value="XAG4301UAF12"/>
        </identifiers>
        <balance>6812189.43000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5918620.92000000</valUSD>
        <pctVal>1.771349484558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>PALMER SQUARE CLO</name>
        <lei>N/A</lei>
        <title>PALMER SQUARE CLO 2019-1 LTD PLMRS 2019-1A CR</title>
        <cusip>69700GAQ5</cusip>
        <identifiers>
          <isin value="US69700GAQ55"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>987325.00000000</valUSD>
        <pctVal>0.295490732297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.68925160</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>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2014-LC16 WFCM 2014-LC16 C</title>
        <cusip>94988XBA3</cusip>
        <identifiers>
          <isin value="US94988XBA37"/>
        </identifiers>
        <balance>1485000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>582472.24000000</valUSD>
        <pctVal>0.174324714496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45800000</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>KKR CLO LTD/LLC</name>
        <lei>N/A</lei>
        <title>KKR CLO 24 LTD KKR 24 E</title>
        <cusip>48252TAA8</cusip>
        <identifiers>
          <isin value="US48252TAA88"/>
        </identifiers>
        <balance>860000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>852850.82000000</valUSD>
        <pctVal>0.255244740427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.95941960</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-01-31</ncom:dateSigned>
      <ncom:nameOfApplicant>THE ADVISORS' INNER CIRCLE FUND</ncom:nameOfApplicant>
      <ncom:signature>Andy Metzger</ncom:signature>
      <ncom:signerName>Andy Metzger</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
