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        <name>HILTON GRAND VACATIONS TRUST</name>
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      <invstOrSec>
        <name>MASTR ADJUSTABLE RATE MORTGAGE TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>PG&amp;E WILDFIRE RECOVERY FUNDING LLC</name>
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      <invstOrSec>
        <name>DEUTSCHE MORTGAGE SECURITIES MORTGAGE LOAN TRUST</name>
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      <invstOrSec>
        <name>OCP CLO LTD</name>
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          <isin value="US67113MAG96"/>
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      <invstOrSec>
        <name>APL FINANCE DESIGNATED ACTIVITY COMPANY</name>
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      <invstOrSec>
        <name>ROCKFORD TOWER CLO</name>
        <lei>N/A</lei>
        <title>ROCKFORD TOWER CLO 2017-3 LTD ROCKT 2017-3A D</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BASEPOINT MCA SECURITIZATION LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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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 A</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST</name>
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        <name>ROWE CLO LTD</name>
        <lei>N/A</lei>
        <title>ROWE CLO 2026-1 LTD ROWE 2026-1A D1</title>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>BANK OF AMERICA ALTERNATIVE LOAN TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MERCURY FINANCIAL CREDIT CARD MASTER TRUST</name>
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        <name>WILLIS ENGINE STRUCTURED TRUST</name>
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        <name>POLEN CAPITAL CLO LTD.</name>
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      <invstOrSec>
        <name>SEACUBE CONTAINER CLIF</name>
        <lei>N/A</lei>
        <title>CLIF HOLDINGS LLC CLIF 2025-1H A</title>
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      <invstOrSec>
        <name>BIZ2CREDIT ASSET SECURITIZATION LLC</name>
        <lei>N/A</lei>
        <title>BIZ2CREDIT ASSET SECURITIZATION LLC BZTC 2026-1A D</title>
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        <name>POLEN CAPITAL CLO LTD.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>AIM AVIATION FINANCE LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CLI FUNDING LLC</name>
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        <name>PALMER SQUARE BDC CLO LTD</name>
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        <name>ROWE CLO LTD</name>
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        <name>HILTON GRAND VACATIONS TRUST</name>
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        <name>FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST</name>
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        <name>LENDMARK FUNDING TRUST</name>
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        <name>SYCAMORE TREE CLO LTD</name>
        <lei>N/A</lei>
        <title>SYCAMORE TREE CLO 2021-1 LTD STCP 2021-1A ER</title>
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        <name>BX TRUST</name>
        <lei>N/A</lei>
        <title>BX TRUST 2025-DELC BX 2025-DELC C</title>
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        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
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        <name>N/A</name>
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        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
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        <name>EZEE FIBER FUNDING LLC</name>
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        <name>BB-UBS TRUST</name>
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        <name>HILTON GRAND VACATIONS TRUST</name>
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        <name>COMM MORTGAGE TRUST</name>
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        <name>CASTLELAKE AIRCRAFT SECURITIZATION TRUST</name>
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        <name>LEHMAN XS TRUST MORTGAGE PASS-THROUGH CERTIFICATES</name>
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        <name>AVENTURA MALL VENTURE</name>
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        <name>QTS ISSUER ABS II LLC</name>
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        <name>FLAGSHIP CREDIT AUTO TRUST</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>AGL CLO LTD</name>
        <lei>N/A</lei>
        <title>AGL CLO 44 LTD AGL 2025-44A D1</title>
        <cusip>00121RAG9</cusip>
        <identifiers>
          <isin value="US00121RAG92"/>
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        <balance>1950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1931987.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.23322000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GARNET CLO LIMITED</name>
        <lei>N/A</lei>
        <title>GARNET CLO 3 LTD GARNET 2025-3A D1</title>
        <cusip>36626TAJ3</cusip>
        <identifiers>
          <isin value="US36626TAJ34"/>
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        <balance>4275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4294759.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.52920840</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNNOVA HELIOS ISSUER LLC</name>
        <lei>N/A</lei>
        <title>SUNNOVA HELIOS II ISSUER LLC 2019-A SNVA 2019-AA A</title>
        <cusip>86745LAA0</cusip>
        <identifiers>
          <isin value="US86745LAA08"/>
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        <balance>351934.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323638.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TVC MORTAGE TRUST</name>
        <lei>N/A</lei>
        <title>TVC MORTGAGE TRUST 2024-RRTL1 TVC 2024-RRTL1 M1</title>
        <cusip>87306WAC1</cusip>
        <identifiers>
          <isin value="US87306WAC10"/>
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        <balance>3610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3614902.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.41500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VOLOFIN FINANCE (IRELAND) DESIGNATED ACTIVITY COMPANY</name>
        <lei>N/A</lei>
        <title>VOLOFIN FINANCE DESIGNATED ACTIVITY CO VFIN 2024-1A B</title>
        <cusip>92873RAB7</cusip>
        <identifiers>
          <isin value="US92873RAB78"/>
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        <balance>530553.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>530941.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.21100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RFS ASSET SECURITIZATION II LLC</name>
        <lei>N/A</lei>
        <title>RFS ASSET SECURITIZATION II LLC RAPID 2024-1 E</title>
        <cusip>74969DAQ8</cusip>
        <identifiers>
          <isin value="US74969DAQ88"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2534789.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.78200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DC COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>DC COMMERCIAL MORTGAGE TRUST 2023-DC DC 2023-DC D</title>
        <cusip>24023AAG5</cusip>
        <identifiers>
          <isin value="US24023AAG58"/>
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        <balance>1370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1371800.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.14048480</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLAGSHIP CREDIT AUTO TRUST</name>
        <lei>N/A</lei>
        <title>FLAGSHIP CREDIT AUTO TRUST 2023-1 FCAT 2023-1 C</title>
        <cusip>337955AJ7</cusip>
        <identifiers>
          <isin value="US337955AJ75"/>
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        <balance>332291.47000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>332654.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.43000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CSMC TRUST</name>
        <lei>N/A</lei>
        <title>CSMC 2014-USA OA LLC CSMC 2014-USA E</title>
        <cusip>12649AAQ2</cusip>
        <identifiers>
          <isin value="US12649AAQ22"/>
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        <balance>11475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9292223.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37330000</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>BIRCH GROVE CLO LTD</name>
        <lei>N/A</lei>
        <title>BIRCH GROVE CLO 6 LTD BGCLO 2023-6A A1R</title>
        <cusip>09077FAL9</cusip>
        <identifiers>
          <isin value="US09077FAL94"/>
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        <balance>4485000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4499289.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.10921000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STARWOOD RETAIL PROPERTY TRUST</name>
        <lei>N/A</lei>
        <title>STARWOOD RETAIL PROPERTY TRUST 2014-STAR SRPT 2014-STAR E</title>
        <cusip>85571XAS6</cusip>
        <identifiers>
          <isin value="US85571XAS62"/>
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        <balance>3185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6370.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FF ASSET SECURITIZATION LLC</name>
        <lei>N/A</lei>
        <title>FF ASSET SECURITIZATION LLC FFAS 2025-1A C</title>
        <cusip>31568BAC8</cusip>
        <identifiers>
          <isin value="US31568BAC81"/>
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        <balance>3796000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3808954.23000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.16700000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>STREAM INNOVATIONS ISSUER TRUST</name>
        <lei>N/A</lei>
        <title>STREAM INNOVATIONS 2024-1 ISSUER TRUST STRE 2024-1A C</title>
        <cusip>86324CAC5</cusip>
        <identifiers>
          <isin value="US86324CAC55"/>
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        <balance>3717675.60000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2044-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.40000000</annualizedRt>
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        <name>RESIDENTIAL FUNDING MORTGAGE SECURITIES INCORPORATED</name>
        <lei>N/A</lei>
        <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>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>PRET LLC</name>
        <lei>N/A</lei>
        <title>PRET 2025-NPL8 LLC PRET 2025-NPL8 A1</title>
        <cusip>69392EAA8</cusip>
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          <isin value="US69392EAA82"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>STREAM INNOVATIONS ISSUER TRUST</name>
        <lei>N/A</lei>
        <title>STREAM INNOVATIONS 2025-1 ISSUER TRUST STRE 2025-1A D</title>
        <cusip>86324XAD7</cusip>
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          <isin value="US86324XAD75"/>
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        <balance>568663.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>582156.51000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC REMICS FHR 5365 LY</title>
        <cusip>3137HB4W1</cusip>
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          <isin value="US3137HB4W12"/>
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        <balance>1852428.93000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1908938.20000000</valUSD>
        <pctVal>0.404778107637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>RFS ASSET SECURITIZATION II LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>OCTANE RECEIVABLES TRUST</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>VEROS AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
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        <cusip>92512TAE4</cusip>
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        <balance>1000000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANC OF AMERICA FUNDING CORPORATION</name>
        <lei>N/A</lei>
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        <identifiers>
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        <balance>44851.44000000</balance>
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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>INDYMAC INDX MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
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          <isin value="US45660LQH59"/>
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        <balance>766293.76000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>PALMER SQUARE CLO</name>
        <lei>N/A</lei>
        <title>PALMER SQUARE CLO 2023-2 LTD PLMRS 2023-2A DR</title>
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        <identifiers>
          <isin value="US69703AAU60"/>
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        <balance>680000.00000000</balance>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TSC SPV FUNDING LLC</name>
        <lei>N/A</lei>
        <title>TSC SPV FUNDING LLC TROP 2026-1A M</title>
        <cusip>898912AD2</cusip>
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          <isin value="US898912AD25"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DC COMMERCIAL MORTGAGE TRUST</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US24023AAE01"/>
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        <balance>1510000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVANT CREDIT CARD MASTER TRUST</name>
        <lei>N/A</lei>
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        <cusip>05351KAV1</cusip>
        <identifiers>
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        <balance>2500000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FLAGSHIP CREDIT AUTO TRUST</name>
        <lei>N/A</lei>
        <title>FLAGSHIP CREDIT AUTO TRUST 2022-3 FCAT 2022-3 C</title>
        <cusip>33845PAG9</cusip>
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          <isin value="US33845PAG90"/>
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        <valUSD>138598.00000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL FR WN2326</title>
        <cusip>3132XGSQ0</cusip>
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        <balance>6920000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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

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          <couponKind>Floating</couponKind>
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        <name>OWN EQUIPMENT FUND</name>
        <lei>N/A</lei>
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        <cusip>69121NAA6</cusip>
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          <isin value="US69121NAA63"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>GS MORTGAGE SECURITIES TRUST</name>
        <lei>N/A</lei>
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          <isin value="US36253BAE39"/>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Floating</couponKind>
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        <name>ELDRIDGE CLO LTD.</name>
        <lei>N/A</lei>
        <title>ELDRIDGE CLO 2025-1 LTD ELD 2025-1A A1</title>
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          <isin value="US284913AA87"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GITSIT MORTGAGE LOAN TRUST</name>
        <lei>N/A</lei>
        <title>GITSIT MORTGAGE LOAN TRUST 2025-NPL1 GITST 2025-NPL1 A1</title>
        <cusip>375926AA0</cusip>
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          <isin value="US375926AA05"/>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRIDGE STREET CLO LTD</name>
        <lei>N/A</lei>
        <title>BRIDGE STREET CLO V LTD BRDGS 2025-1A C1</title>
        <cusip>107921AG3</cusip>
        <identifiers>
          <isin value="US107921AG35"/>
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        <balance>2235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2237523.32000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>ECAF I</name>
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        <name>DIAMETER CAPITAL CLO LTD.</name>
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        <name>KAPITUS ASSET SECURITIZATION LLC</name>
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        <name>TPG CLO LTD</name>
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        <name>NASSAU CDO LTD.</name>
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        <name>BX TRUST</name>
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        <name>N/A</name>
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        <name>JACK IN THE BOX FUNDING SERIES LLC</name>
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        <name>WILLIS ENGINE STRUCTURED TRUST</name>
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        <name>MASTR ALTERNATIVE LOAN TR</name>
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        <title>MASTR ALTERNATIVE LOAN TRUST 2004-2 MALT 2004-2 8A4</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>COREVEST AMERICAN FINANCE</name>
        <lei>N/A</lei>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOWD POINT MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>TOWD POINT MORTGAGE TRUST 2020-4 TPMT 2020-4 M1</title>
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          <isin value="US89179JAC09"/>
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        <balance>2300000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>ROC MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>ROC MORTGAGE TRUST 2024-RTL1 ROC 2024-RTL1 M1</title>
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        <identifiers>
          <isin value="US77118UAC45"/>
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        <balance>3740000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STELLAR JAY IRELAND DAC</name>
        <lei>N/A</lei>
        <title>STELLAR JAY IRELAND DAC STELR 2021-1 A</title>
        <cusip>858558AA7</cusip>
        <identifiers>
          <isin value="US858558AA70"/>
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        <balance>30651.81000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>SYMETRA CLO LTD</name>
        <lei>N/A</lei>
        <title>SYMETRA CLO 2025-1 LTD SIM 2025-1A E</title>
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          <isin value="US87153CAA36"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUNDSON'S BAY SIMON JV TRUST</name>
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        <title>HUDSONS BAY SIMON JV TRUST 2015-HBS HBCT 2015-HB10 A10</title>
        <cusip>44422PBN1</cusip>
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          <isin value="US44422PBN15"/>
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        <balance>660355.25000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15450000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SBNA AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>SBNA AUTO RECEIVABLES TRUST 2025-SF1 SBAT 2025-SF1 F</title>
        <cusip>78437XAF3</cusip>
        <identifiers>
          <isin value="US78437XAF33"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>988871.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.71000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOWD POINT MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>TOWD POINT MORTGAGE TRUST 2018-5 TPMT 2018-5 M1</title>
        <cusip>89176VAC6</cusip>
        <identifiers>
          <isin value="US89176VAC63"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>418480.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000080</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEXTAINER MARINE CONTAINERS LIMITED</name>
        <lei>N/A</lei>
        <title>TMCL VII HOLDINGS LTD TMCL 2025-1H B</title>
        <cusip>87257FAB9</cusip>
        <identifiers>
          <isin value="US87257FAB94"/>
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        <balance>2631524.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2611439.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.06000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FOUNDATION FINANCE TRUST</name>
        <lei>N/A</lei>
        <title>FOUNDATION FINANCE TRUST 2024-2 FFIN 2024-2A E</title>
        <cusip>35040VAE9</cusip>
        <identifiers>
          <isin value="US35040VAE92"/>
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        <balance>930762.10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>945653.08000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHF TRUST</name>
        <lei>N/A</lei>
        <title>FHF ISSUER TRUST 2026-1 FHF 2026-1A E</title>
        <cusip>30345FAF4</cusip>
        <identifiers>
          <isin value="US30345FAF45"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1546536.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.16000000</annualizedRt>
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      <invstOrSec>
        <name>BPR TRUST</name>
        <lei>N/A</lei>
        <title>BPR TRUST 2021-NRD BPR 2021-NRD E</title>
        <cusip>05592CAN6</cusip>
        <identifiers>
          <isin value="US05592CAN65"/>
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        <balance>2030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2036720.72000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.29800080</annualizedRt>
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        <name>LEHMAN MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>LEHMAN MORTGAGE TRUST 2007-9 LMT 2007-9 1A1</title>
        <cusip>52522XAA5</cusip>
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          <isin value="US52522XAA54"/>
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        <balance>45878.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43548.61000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ONDECK ASSET SECURITIZATION TRUST LLC</name>
        <lei>N/A</lei>
        <title>ONDECK ASSET SECURITIZATION TRUST IV LLC ONDK 2024-2A C</title>
        <cusip>67108SAF5</cusip>
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          <isin value="US67108SAF56"/>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CIM TRUST</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.75000120</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MERCURY FINANCIAL CREDIT CARD MASTER TRUST</name>
        <lei>N/A</lei>
        <title>MERCURY FINANCIAL CREDIT CARD MASTER TRUST MFCC 2025-1A C</title>
        <cusip>58940BBH8</cusip>
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          <isin value="US58940BBH87"/>
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        <balance>3420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3367653.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.29000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>FOURSIGHT CAPITAL AUTOMOBILE RECEIVABLES TRUST 202 FCRT 2024-1 E</title>
        <cusip>35105AAF4</cusip>
        <identifiers>
          <isin value="US35105AAF49"/>
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        <name>SANTANDER BANK, N.A.</name>
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        <name>ACCELERATED ASSETS LLC</name>
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        <name>SECURITIZED TERM AUTO RECEIVABLES TRUST</name>
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        <name>FLAGSHIP CREDIT AUTO TRUST</name>
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        <name>720 EAST CLO LTD</name>
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      <invstOrSec>
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        <name>SUNNOVA HELIOS ISSUER LLC</name>
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        <name>COUNTRYWIDE HOME LOANS INC</name>
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          <isin value="US12669FM838"/>
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        <name>SUNNOVA ENERGY CORP 2018-1</name>
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        <name>CITIGROUP MORTGAGE LOAN TRUST INC</name>
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        <name>BASEPOINT MCA SECURITIZATION LLC</name>
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        <name>FLAGSHIP CREDIT AUTO TRUST</name>
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        <name>MASTR ALTERNATIVE LOAN TR</name>
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        <name>NYMT LOAN TRUST</name>
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        <name>37 CAPITAL CLO LTD</name>
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        <name>CASTLELAKE AIRCRAFT SECURITIZATION TRUST</name>
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        <name>ECAF I BLOCKER LTD</name>
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        <name>FORA FINANCIAL ASSET SECURITIZATION LLC</name>
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          <isin value="US05614JAA34"/>
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        <name>STARWOOD RETAIL PROPERTY TRUST</name>
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      <invstOrSec>
        <name>MAGNETITE CLO, LIMITED</name>
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        <name>CSMC TRUST</name>
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          <couponKind>Fixed</couponKind>
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        <name>BFLD TRUST</name>
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        <name>FLAGSHIP CREDIT AUTO TRUST</name>
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        <name>STREAM INNOVATIONS ISSUER TRUST</name>
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        <name>GS MORTGAGE SECURITIES CORPORATION TRUST</name>
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        <name>ORION CLO LTD</name>
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        <name>MORGAN STANLEY MORTGAGE LOAN TRUST</name>
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        <name>CSMC TRUST</name>
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        <name>KINETIC ABS ISSUER LLC</name>
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        <name>GS MORTGAGE SECURITIES TRUST</name>
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        <name>OCTANE RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>OCTANE RECEIVABLES TRUST 2024-2 OCTL 2024-2A E</title>
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        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST</name>
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        <name>EDI ABS ISSUER 1 LLC</name>
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        <name>CWALT, INC (COUNTRYWIDE ALTERNATIVE LOAN TRUST)</name>
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        <name>WAVE LLC</name>
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        <name>DEUTSCHE MORTGAGE SECURITIES MORTGAGE LOAN TRUST</name>
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        <name>CITIGROUP COMMERCIAL MORTGAGE TRUST</name>
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          <isin value="US17322MAA45"/>
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        <name>BENCHMARK MORTGAGE TRUST</name>
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        <invCountry>US</invCountry>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HUNTINGTON BANK AUTO CREDIT-LINKED NOTES</name>
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        <title>HUNTINGTON BANK AUTO CREDIT-LINKED NOTES SERIES 20 HACLN 2024-1 C</title>
        <cusip>44644NAC3</cusip>
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          <isin value="US44644NAC39"/>
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      <invstOrSec>
        <name>STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST</name>
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        <title>STRUCTURED ADJUSTABLE RATE MORTGAGE LOAN TRUST SARM 2005-14 A1</title>
        <cusip>863579TM0</cusip>
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        <name>EXTENDED STAY AMERICA TRUST</name>
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        <title>EXTENDED STAY AMERICA TRUST 2025-ESH ESA 2025-ESH A</title>
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        <name>J.P. MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST</name>
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        <title>JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRU JPMCC 2011-C3 C</title>
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        <name>MILL CITY MORTGAGE LOAN TRUST</name>
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        <name>SUNNOVA HELIOS ISSUER LLC</name>
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        <name>LEDN ISSUER TRUST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>N/A</title>
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        <name>LABRADOR AVIATION FIN LTD SER 2016</name>
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        <lei>N/A</lei>
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          <isin value="US31846V3289"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS MORTGAGE SECURITIES TRUST</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OHA LOAN FUNDING LTD</name>
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          <isin value="US67109BDW19"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRIDGECREST LENDING AUTO SECURITIZATION TRUST</name>
        <lei>N/A</lei>
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        <cusip>10807WAG8</cusip>
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          <isin value="US10807WAG87"/>
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        <balance>2130000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-15</maturityDt>
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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>
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          <isin value="US45660NX755"/>
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        <balance>381764.60000000</balance>
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        <curCd>USD</curCd>
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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>2034-10-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KINETIC ABS ISSUER LLC</name>
        <lei>N/A</lei>
        <title>KINETIC ABS ISSUER LLC UNITK 2026-2A C</title>
        <cusip>494600AC3</cusip>
        <identifiers>
          <isin value="US494600AC39"/>
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        <balance>6985000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6916522.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.53600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTR ADJUSTABLE RATE MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>MASTR ADJUSTABLE RATE MORTGAGES TRUST 2005-2 MARM 2005-2 3A1</title>
        <cusip>576433XW1</cusip>
        <identifiers>
          <isin value="US576433XW19"/>
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        <balance>502430.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>453463.10000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.19375880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORTIVA PRIVATE LABEL CREDIT CARD</name>
        <lei>N/A</lei>
        <title>FORTIVA RETAIL CREDIT MASTER NOTE BUSINESS TRUST FRCMT 2024-ONE C</title>
        <cusip>34962AAX0</cusip>
        <identifiers>
          <isin value="US34962AAX00"/>
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        <balance>5270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5276958.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.56000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLEBEE'S FUNDING LLC/IHOP FUNDING LLC</name>
        <lei>N/A</lei>
        <title>APPLEBEE'S FUNDING LLC / IHOP FUNDING LLC DIN 2025-1A A2</title>
        <cusip>03789XAH1</cusip>
        <identifiers>
          <isin value="US03789XAH17"/>
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        <balance>1028000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1023594.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.72000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOWD POINT MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>TOWD POINT MORTGAGE TRUST 2019-2 TPMT 2019-2 M1</title>
        <cusip>89177JAC2</cusip>
        <identifiers>
          <isin value="US89177JAC27"/>
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        <balance>890000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>758002.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.74915160</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <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 C</title>
        <cusip>553514AL4</cusip>
        <identifiers>
          <isin value="US553514AL44"/>
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        <balance>830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64329.15000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.27883760</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>GS MORTGAGE SECURITIES CORPORATION TRUST</name>
        <lei>N/A</lei>
        <title>GS MORTGAGE SECURITIES CORP TRUST 2013-PEMB GSMS 2013-PEMB A</title>
        <cusip>36197VAA6</cusip>
        <identifiers>
          <isin value="US36197VAA61"/>
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        <balance>1005000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>834150.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.54949920</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RCO MORTGAGE LLC</name>
        <lei>N/A</lei>
        <title>RCO VIII MORTGAGE LLC 2025-3 RCO 2025-3 A2</title>
        <cusip>74939GAB1</cusip>
        <identifiers>
          <isin value="US74939GAB14"/>
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        <balance>958000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>958846.20000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.83610000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US91282CQE48"/>
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        <balance>4633000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4539254.12000000</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>SIERRA TIMESHARE RECEIVABLES FUNDING LLC</name>
        <lei>N/A</lei>
        <title>SIERRA TIMESHARE 2024-1 RECEIVABLES FUNDING LLC SRFC 2024-1A D</title>
        <cusip>826935AD0</cusip>
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          <isin value="US826935AD03"/>
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        <balance>298660.69000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.02000000</annualizedRt>
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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>
        <valUSD>884146.04000000</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>2066-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.99999960</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TIC HOME IMPROVEMENT TRUST</name>
        <lei>N/A</lei>
        <title>TIC HOME IMPROVEMENT TRUST 2024-A TIC 2024-A C</title>
        <cusip>87252DAC7</cusip>
        <identifiers>
          <isin value="US87252DAC74"/>
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        <balance>1145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1158005.14000000</valUSD>
        <pctVal>0.245547566287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.73000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEACO CONTAINER</name>
        <lei>N/A</lei>
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          <isin value="US37893FAB40"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>CARVANA AUTO RECEIVABLES TRUST</name>
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          <isin value="US14687WAF77"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>SEACUBE CONTAINER CLIF</name>
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          <isin value="US12563LAT44"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST</name>
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          <isin value="US553514AN00"/>
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        <name>SANTANDER DRIVE AUTO RECEIVABLES TRUST</name>
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        <name>MARINER FINANCE ISSUANCE TRUST</name>
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          <isin value="US567928AD85"/>
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      <invstOrSec>
        <name>BHG SECURITIZATION TRUST</name>
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          <isin value="US08862HAE27"/>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>CAL FUNDING LIMITED</name>
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        <title>CAL FUNDING IV LTD CAI 2020-1A B</title>
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          <isin value="US12807CAC73"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SUNRUN DEMETER ISSUER LLC</name>
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        <name>TEXTAINER MARINE CONTAINERS LIMITED</name>
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        <name>THUNDERBOLT AIRCRAFT LEASE LIMITED</name>
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        <name>COREVEST AMERICAN FINANCE</name>
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        <name>VSTRONG AUTO RECEIVABLES TRUST</name>
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        <name>CLAS LIMITED</name>
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        <name>FF ASSET SECURITIZATION LLC</name>
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        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST</name>
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          <couponKind>Floating</couponKind>
          <annualizedRt>3.86278200</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>BHG SECURITIZATION TRUST</name>
        <lei>N/A</lei>
        <title>BHG SECURITIZATION TRUST 2023-B BHG 2023-B E</title>
        <cusip>08862GAE4</cusip>
        <identifiers>
          <isin value="US08862GAE44"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2764674.50000000</valUSD>
        <pctVal>0.586231504164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASTR ALTERNATIVE LOAN TR</name>
        <lei>N/A</lei>
        <title>MASTR ALTERNATIVE LOAN TRUST 2004-5 MALT 2004-5 1A1</title>
        <cusip>576434RF3</cusip>
        <identifiers>
          <isin value="US576434RF33"/>
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        <balance>96621.19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96287.88000000</valUSD>
        <pctVal>0.020417227679</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>EVERBRIGHT SOLAR TRUST</name>
        <lei>N/A</lei>
        <title>EVERBRIGHT SOLAR TRUST 2024-A EVBRT 2024-A A</title>
        <cusip>29977FAA2</cusip>
        <identifiers>
          <isin value="US29977FAA21"/>
        </identifiers>
        <balance>853476.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>712697.74000000</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>2054-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.43000000</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>LAD SELECT AUTO RECEIVABLES TR</name>
        <lei>N/A</lei>
        <title>LAD SELECT AUTO RECEIVABLES TRUST 2026-A LASAR 2026-A E</title>
        <cusip>501697AG1</cusip>
        <identifiers>
          <isin value="US501697AG15"/>
        </identifiers>
        <balance>2010000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2011979.45000000</valUSD>
        <pctVal>0.426627344130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.45000000</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>FHF TRUST</name>
        <lei>N/A</lei>
        <title>FHF ISSUER TRUST 2025-1 FHF 2025-1A A2</title>
        <cusip>30340RAB2</cusip>
        <identifiers>
          <isin value="US30340RAB24"/>
        </identifiers>
        <balance>1897065.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1895809.41000000</valUSD>
        <pctVal>0.401994231882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.92000000</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>2026-07-31</ncom:dateSigned>
      <ncom:nameOfApplicant>THE ADVISORS' INNER CIRCLE FUND</ncom:nameOfApplicant>
      <ncom:signature>Andrew Metzger</ncom:signature>
      <ncom:signerName>Andrew Metzger</ncom:signerName>
      <ncom:title>Treasurer, Controller and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
