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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912810QN1</cusip>
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          <isin value="US912810QN19"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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        <cusip>05609CAA5</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CLM1</cusip>
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          <isin value="US91282CLM19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WYNN RESORTS FINANCE LLC</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F022675</cusip>
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        <balance>67900000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>BCAP LLC Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>SOLVENTUM CORP</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>Solventum Corp</title>
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        <balance>680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>700113.05000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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      <invstOrSec>
        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA Inc</title>
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          <isin value="US87264ADF93"/>
          <other otherDesc="SEDOL" value="BR875P1"/>
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        <balance>760000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>CAESARS ENTERTAIN INC</title>
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          <other otherDesc="INTERNAL" value="BL4810430"/>
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        <balance>629475.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.57681000</annualizedRt>
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        <name>REPUBLIC OF SRI LANKA</name>
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        <title>Sri Lanka Government International Bond</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2966242336"/>
          <other otherDesc="SEDOL" value="BRZSVX7"/>
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        <balance>277144.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190790.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>JPY/USD FORWARD</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust 2021-BXMF</title>
        <cusip>05609RAA2</cusip>
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          <isin value="US05609RAA23"/>
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        <balance>4799674.19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4794987.79000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.06241000</annualizedRt>
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        <name>SYNOPSYS INC</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys Inc</title>
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        <balance>210000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>RTX CORP</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX Corp</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MRCD Mortgage Trust</name>
        <lei>N/A</lei>
        <title>MRCD 2019-MARK Mortgage Trust</title>
        <cusip>55348UAG3</cusip>
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          <isin value="US55348UAG31"/>
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        <balance>7980000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7108185.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.71752000</annualizedRt>
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      <invstOrSec>
        <name>VENTURE GLOBAL LNG INC</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG Inc</title>
        <cusip>92332YAE1</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jane Street Group LLC</name>
        <lei>5493002N1IVX6KHGYO08</lei>
        <title>JANE STREET GROUP LLC</title>
        <cusip>47077DAM2</cusip>
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          <other otherDesc="INTERNAL" value="BL4845634"/>
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        <balance>820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>819913.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BAUSCH HEALTH COS INC</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
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        <valUSD>2786850.00000000</valUSD>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>KROGER CO</name>
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        <title>Kroger Co/The</title>
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          <isin value="US501044DV05"/>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</counterpartyName>
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                <issuerName>US TREASURY N/B</issuerName>
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                  <cusip value="91282CEP2"/>
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            <expDate>2025-09-19</expDate>
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        <name>KREF 2021-FL2 Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-02-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <shareNo>100000.00000000</shareNo>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>VMED O2 UK FINAN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHARTER COMM OPT LLC/CAP</name>
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      <invstOrSec>
        <name>Bank of America, National Association</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912810TZ1</cusip>
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          <isin value="US912810TZ12"/>
          <other otherDesc="SEDOL" value="BPG5RX5"/>
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        <balance>4360000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>BX Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
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          <isin value="US912810TX63"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-15</maturityDt>
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      <invstOrSec>
        <name>REPUBLIC OF ANGOLA</name>
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        <title>Angolan Government International Bond</title>
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          <isin value="XS2083302500"/>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US87612BBS07"/>
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      <invstOrSec>
        <name>WILLIAMS COMPANIES INC</name>
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        <title>Williams Cos Inc/The</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EQT CORP</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <title>US 10YR ULTRA</title>
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          <ticker value="UXYU5"/>
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        <name>Goldman Sachs Bank USA</name>
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        <title>MXN/USD FORWARD</title>
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        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Paraguay Government International Bond</title>
        <cusip>699149AL4</cusip>
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        <title>Ghana Government International Bond</title>
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          <isin value="US374422AL79"/>
          <other otherDesc="SEDOL" value="BR4TSY1"/>
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        <title>Alphabet Inc</title>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <title>THREE-MONTH SOFR</title>
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        <name>BAUSCH HEALTH COS INC</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IVORY COAST</name>
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        <invCountry>CI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
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      <invstOrSec>
        <name>VIRGIN MEDIA SECURED FIN</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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      <invstOrSec>
        <name>HILTON DOMESTIC OPERATIN</name>
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        <balance>1350000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
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          <isin value="US05581KAG67"/>
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        <balance>1740000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ELI LILLY &amp; CO</name>
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          <isin value="US532457CN68"/>
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        <curCd>USD</curCd>
        <valUSD>1022848.07000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-02-09</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <title>US 2YR NOTE (CBT)</title>
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          <ticker value="TUU5"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae</title>
        <cusip>21H052678</cusip>
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          <isin value="US21H0526788"/>
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        <balance>4300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4306986.60000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae</title>
        <cusip>21H020675</cusip>
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          <isin value="US21H0206753"/>
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        <balance>32900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26802605.17000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>INTEL CORP</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp</title>
        <cusip>458140CJ7</cusip>
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          <isin value="US458140CJ73"/>
          <other otherDesc="SEDOL" value="BMX7HF5"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>605362.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc</title>
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          <other otherDesc="SEDOL" value="BT3NFJ2"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402016.10000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
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          <other otherDesc="SEDOL" value="BMGF6V5"/>
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        <balance>830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>861084.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>REPUBLIC OF GHANA</name>
        <lei>213800PP4399SNNXZ126</lei>
        <title>Ghana Government International Bond</title>
        <cusip>374422AM5</cusip>
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          <isin value="US374422AM52"/>
          <other otherDesc="SEDOL" value="BR4TST6"/>
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        <balance>129340.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121570.09000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
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          <other otherDesc="SEDOL" value="BSCC009"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>AON NORTH AMERICA INC</name>
        <lei>N/A</lei>
        <title>Aon North America Inc</title>
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          <isin value="US03740MAD20"/>
          <other otherDesc="SEDOL" value="BMFF917"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED AIRLINES INC</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines Inc</title>
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          <isin value="US90932LAH06"/>
          <other otherDesc="SEDOL" value="BMG8788"/>
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        <balance>4046000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3930103.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>QUIKRETE HOLDINGS INC</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings Inc</title>
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          <isin value="US74843PAA84"/>
          <other otherDesc="SEDOL" value="BPH26F0"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>463025.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF NOVA SCOTIA</name>
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        <balance>1920000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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          <isin value="US05609KAQ22"/>
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      <invstOrSec>
        <name>OGLETHORPE POWER CORP</name>
        <lei>3EERXCUSWMS9GV5D9M98</lei>
        <title>Oglethorpe Power Corp</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UKRAINE GOVERNMENT</name>
        <lei>6354001WLTJXOMEXPY07</lei>
        <title>Ukraine Government International Bond</title>
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          <isin value="XS2895056013"/>
          <other otherDesc="SEDOL" value="BKVF0G9"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>UA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>REPUBLIC OF SRI LANKA</name>
        <lei>254900IG6Y30I2QE2R92</lei>
        <title>Sri Lanka Government International Bond</title>
        <cusip>000000000</cusip>
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          <isin value="XS2966241874"/>
          <other otherDesc="SEDOL" value="BRZSVY8"/>
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        <balance>192344.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>156995.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>CRESCENT ENERGY FINANCE</name>
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        <title>Crescent Energy Finance LLC</title>
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          <isin value="US45344LAE39"/>
          <other otherDesc="SEDOL" value="BR4ZG56"/>
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        <balance>940000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT CAPITAL CORP</name>
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          <isin value="US054989AD07"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>LIFEPOINT HEALTH INC</name>
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        <title>LifePoint Health Inc</title>
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        <name>BUILDERS FIRSTSOURCE INC</name>
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        <name>DaVita Inc.</name>
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        <title>DAVITA INC</title>
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        <name>CITIBANK, NATIONAL ASSOCIATION</name>
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      <invstOrSec>
        <name>DELTA AIR LINES/SKYMILES</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GEORGIA POWER CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIR LEASE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SERVICE PROPERTIES TRUST</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Starwood Property Mortgage LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS GROUP AG</name>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LETRA TESOURO NACIONAL</name>
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        <name>Bank of America, National Association</name>
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        <name>BOEING CO</name>
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      <invstOrSec>
        <name>UNITED RENTALS NORTH AM</name>
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        <name>Fannie Mae - CAS</name>
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        <name>T-MOBILE USA INC</name>
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        <name>Sotera Health Holdings LLC</name>
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        <name>SUZANO AUSTRIA GMBH</name>
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        <name>Citibank, National Association</name>
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        <name>ROYAL CARIBBEAN CRUISES</name>
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        <name>TRUIST BANK</name>
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        <name>ALTRIA GROUP INC</name>
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        <title>Altria Group Inc</title>
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        <name>FREEPORT-MCMORAN INC</name>
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        <title>Freeport-McMoRan Inc</title>
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        <name>Fannie Mae or Freddie Mac</name>
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        <name>NOTA DO TESOURO NACIONAL</name>
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        <name>CSC HOLDINGS LLC</name>
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        <name>ELI LILLY &amp; CO</name>
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        <title>Eli Lilly &amp; Co</title>
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        <name>OFFICE CHERIFIEN DES PHO</name>
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        <title>OCP SA</title>
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        <name>SOLVENTUM CORP</name>
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        <title>Solventum Corp</title>
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        <name>Harbor Freight Tools USA Inc</name>
        <lei>549300Y48HLCFTTB4249</lei>
        <title>HARBOR FREIGHT TOOLS USA INC</title>
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        <name>Residential Accredit Loans, In</name>
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        <title>RALI Series 2007-QS7 Trust</title>
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        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
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        <name>LAS VEGAS SANDS CORP</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
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        <issuerCat>CORP</issuerCat>
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        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>CHF/USD FORWARD</title>
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      <invstOrSec>
        <name>PM GENERAL PURCHASER LLC</name>
        <lei>N/A</lei>
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          <isin value="US69356MAA45"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
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      <invstOrSec>
        <name>1261229 BC LTD</name>
        <lei>N/A</lei>
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          <isin value="US68288AAA51"/>
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        <balance>930000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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      <invstOrSec>
        <name>SPIRIT AVIA HOL RESTRICT</name>
        <lei>N/A</lei>
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          <other otherDesc="INTERNAL" value="84SPIR101"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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          <isin value="US91159HJN17"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-12</maturityDt>
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      <invstOrSec>
        <name>REPUBLIC OF SRI LANKA</name>
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        <title>Sri Lanka Government International Bond</title>
        <cusip>000000000</cusip>
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          <isin value="XS2966242419"/>
          <other otherDesc="SEDOL" value="BRZSVT3"/>
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        <balance>195753.15000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184252.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>LK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co</title>
        <cusip>110122EG9</cusip>
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          <isin value="US110122EG99"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10360.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-22</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMMSCOPE TECH LLC</name>
        <lei>M4TWC4QDOKW45N7T6Y12</lei>
        <title>CommScope Technologies LLC</title>
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          <isin value="US20338HAB96"/>
          <other otherDesc="SEDOL" value="BF08257"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1949708.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMRIZE FINANCE US LLC</name>
        <lei>529900FB2F1WKLFNGY62</lei>
        <title>Amrize Finance US LLC</title>
        <cusip>43475RAC0</cusip>
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          <isin value="US43475RAC07"/>
          <other otherDesc="SEDOL" value="BRF3NS1"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101389.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REPUBLIC OF KENYA</name>
        <lei>549300VVURQQYU45PR87</lei>
        <title>Republic of Kenya Government International Bond</title>
        <cusip>491798AL8</cusip>
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          <isin value="US491798AL85"/>
          <other otherDesc="SEDOL" value="BNRRQ17"/>
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        <balance>2470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2004292.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FOX CORP</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
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          <other otherDesc="SEDOL" value="BPSQ9N0"/>
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        <balance>1030000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1114769.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>QXO BUILDING PRODUCTS</name>
        <lei>549300HDXQWWCBOYXP31</lei>
        <title>QXO Building Products Inc</title>
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        <balance>1630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1683304.26000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>GSAMP Trust</name>
        <lei>N/A</lei>
        <title>GSAMP Trust 2005-SEA1</title>
        <cusip>36242DL68</cusip>
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        <balance>688924.94000000</balance>
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        <curCd>USD</curCd>
        <valUSD>820604.88000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.78368000</annualizedRt>
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        <name>BAT CAPITAL CORP</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-25</maturityDt>
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          <annualizedRt>3.73400000</annualizedRt>
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      <invstOrSec>
        <name>THE 2023-MIC Trust</name>
        <lei>N/A</lei>
        <title>2023-MIC Trust/THE</title>
        <cusip>87256GAA0</cusip>
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          <isin value="US87256GAA04"/>
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        <balance>2740000.00000000</balance>
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        <curCd>USD</curCd>
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          <couponKind>Variable</couponKind>
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        <name>ROYAL CARIBBEAN CRUISES</name>
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        <title>Royal Caribbean Cruises Ltd</title>
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        <balance>870000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co</title>
        <cusip>110122EH7</cusip>
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          <isin value="US110122EH72"/>
          <other otherDesc="SEDOL" value="BPG5RC4"/>
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        <balance>1300000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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        <name>FOCUS FINANCIAL PARTNERS</name>
        <lei>5493007L0E0VKRC2CP39</lei>
        <title>FOCUS FINANCIAL PARTNERS LLC</title>
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        <curCd>USD</curCd>
        <valUSD>817131.00000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Call</putOrCall>
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                  <derivAddlInfo>
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                      <ticker value="SFRZ5"/>
                      <other otherDesc="ID_BB_GLOBAL" value="BBG00QFWY8R1"/>
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                  <payOffProf>Long</payOffProf>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>THE SECURED OVERNIGHT FINANCING RATE</issuerName>
                      <issueTitle>THE SECURED OVERNIGHT FINANCING RATE</issueTitle>
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                        <cusip value="000000000"/>
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                  <expDate>2026-03-17</expDate>
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            <shareNo>2500.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>196263.30000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>GIP Pilot Acquisition Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>CONTINENTAL RESOURCES</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH DBS CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae</title>
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          <isin value="US21H0626778"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5134210.50000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>THREE-MONTH SOFR</title>
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          <ticker value="SFRZ5P95.375"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG0184LMTB0"/>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Put</putOrCall>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae or Freddie Mac</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA, NATIONAL ASSOCIATION</name>
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        <units>NC</units>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONEOK INC</name>
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        <title>ONEOK Inc</title>
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      <invstOrSec>
        <name>REPUBLIC OF COLOMBIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia Government International Bond</title>
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          <isin value="US195325EA91"/>
          <other otherDesc="SEDOL" value="BN7N9P0"/>
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        <balance>1930000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae</title>
        <cusip>21H042679</cusip>
        <identifiers>
          <isin value="US21H0426799"/>
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        <balance>4900000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912810UA4</cusip>
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          <isin value="US912810UA42"/>
          <other otherDesc="SEDOL" value="BQSB5H8"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AmWINS Group Inc</name>
        <lei>549300SJE7MUB8NMRG61</lei>
        <title>AMWINS GROUP INC</title>
        <cusip>03234TBA5</cusip>
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          <other otherDesc="INTERNAL" value="BL4981173"/>
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        <balance>408972.43000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409573.62000000</valUSD>
        <pctVal>0.053862161622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>RTX CORP</name>
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        <name>Freddie Mac - STACR</name>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>KNDR Trust 2021-KIND</name>
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        <name>Fannie Mae or Freddie Mac</name>
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        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
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        <name>BUILDERS FIRSTSOURCE INC</name>
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        <name>Government National Mortgage A</name>
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        <name>SYNOPSYS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank, National Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <other otherDesc="INTERNAL" value="9USDBM114"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SPIRIT AIRLINES LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lightning Power, LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED AIRLINES INC</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines Inc</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DISH DBS CORP</name>
        <lei>N/A</lei>
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        <balance>420000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
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          <isin value="US912810UJ50"/>
          <other otherDesc="SEDOL" value="BNZD2R5"/>
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        <balance>8950000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>REPUBLIC OF NIGERIA</name>
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        <title>Nigeria Government International Bond</title>
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          <isin value="US65412JAD54"/>
          <other otherDesc="SEDOL" value="BF5G825"/>
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        <curCd>USD</curCd>
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        <invCountry>NG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America, National Association</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>CNH/USD FORWARD</title>
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          <ticker value="N/A"/>
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        <name>CSC HOLDINGS LLC</name>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>BLUE RACER MID LLC/FINAN</name>
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        <name>COMMONWEALTH OF BAHAMAS</name>
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        <title>Bahamas Government International Bond</title>
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          <other otherDesc="SEDOL" value="BVK1719"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BS</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>GLENCORE FUNDING LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
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        <invCountry>US</invCountry>

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        <name>IRON MOUNTAIN INC</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRON MOUNTAIN INC</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>BOEING CO</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The</title>
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        <balance>110000.00000000</balance>
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        <name>OCCIDENTAL PETROLEUM COR</name>
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        <name>Citibank, National Association</name>
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        <name>RTX CORP</name>
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        <name>Government National Mortgage A</name>
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        <name>VIKING CRUISES LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALPHABET INC</name>
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        <title>Alphabet Inc</title>
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        <name>Chart Industries, Inc.</name>
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        <name>Calpine Construction Finance Company L P</name>
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        <name>US TREASURY N/B</name>
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        <title>Caesars Entertainment Inc</title>
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        <name>TransUnion Intermediate Holdings Inc f/k/a TransUnion Corp</name>
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      <invstOrSec>
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        <name>Citibank, National Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>UA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilton USA Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NOTA DO TESOURO NACIONAL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ONEOK INC</name>
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          <other otherDesc="SEDOL" value="BRBDWP5"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae or Freddie Mac</name>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Bank USA</name>
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        <name>SOLVENTUM CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ZF NA CAPITAL</name>
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          <isin value="US98877DAG07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ABBVIE INC</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc</title>
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          <isin value="US00287YDU01"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RANGE RESOURCES CORP</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
        <title>Range Resources Corp</title>
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          <isin value="US75281ABJ79"/>
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        <balance>1780000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONCOR ELECTRIC DELIVERY</name>
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        <title>Oncor Electric Delivery Co LLC</title>
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        <balance>200000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <title>US 5YR NOTE (CBT)</title>
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          <ticker value="FVU5"/>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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                <issuerName>US TREASURY N/B</issuerName>
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      <invstOrSec>
        <name>REPUBLIC OF GHANA</name>
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        <title>Ghana Government International Bond</title>
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          <isin value="US374422AP83"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage S</name>
        <lei>N/A</lei>
        <title>Barclays Commercial Mortgage Trust 2019-C5</title>
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          <isin value="US05492JAW27"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Peer Holding III BV</name>
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          <isin value="XAN6872NAN65"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOLVENTUM CORP</name>
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        <title>Solventum Corp</title>
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      <invstOrSec>
        <name>VENTURE GLOBAL CALCASIEU</name>
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        <title>Venture Global Calcasieu Pass LLC</title>
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        <name>Citigroup Commercial Mortgage</name>
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        <name>Belron Finance US LLC</name>
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        <name>FLUTTER TREASURY DAC</name>
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        <title>Flutter Treasury DAC</title>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>CHENIERE ENERGY PARTNERS</name>
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        <name>Bank of America, National Association</name>
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        <name>JANE STREET GRP/JSG FIN</name>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313389.28000000</valUSD>
        <pctVal>0.041213162239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.60000000</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>GLENCORE FUNDING LLC</name>
        <lei>213800STG1QDNBY87K49</lei>
        <title>Glencore Funding LLC</title>
        <cusip>378272CA4</cusip>
        <identifiers>
          <isin value="US378272CA49"/>
          <other otherDesc="SEDOL" value="BMHSGB3"/>
        </identifiers>
        <balance>790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>806296.82000000</valUSD>
        <pctVal>0.106034391653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.67300000</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>Terex Corporation</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>TEREX CORP</title>
        <cusip>88078FBM9</cusip>
        <identifiers>
          <isin value="US88078FBM95"/>
          <other otherDesc="INTERNAL" value="BL4749950"/>
        </identifiers>
        <balance>408975.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411829.65000000</valUSD>
        <pctVal>0.054158847361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</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>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>THREE-MONTH SOFR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SFRU6C97.5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG019R2YFG7"/>
        </identifiers>
        <balance>-483.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-277725.00000000</valUSD>
        <pctVal>-0.03652302811</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <futrDeriv derivCat="FUT">
                  <counterparties>
                    <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
                    <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
                    <lei>SNZ2OJLFK8MNNCLQOF39</lei>
                    <title>3 MONTH SOFR</title>
                    <cusip>000000000</cusip>
                    <identifiers>
                      <ticker value="SFRU6"/>
                      <other otherDesc="ID_BB_GLOBAL" value="BBG00QFWY8V6"/>
                    </identifiers>
                    <balance>0.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
                    <valUSD>0.00000000</valUSD>
                    <pctVal>0.00000000</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerCat>CORP</issuerCat>
                    <invCountry>US</invCountry>
                  </derivAddlInfo>
                  <payOffProf>Long</payOffProf>
                  <descRefInstrmnt>
                    <otherRefInst>
                      <issuerName>THE SECURED OVERNIGHT FINANCING RATE</issuerName>
                      <issueTitle>THE SECURED OVERNIGHT FINANCING RATE</issueTitle>
                      <identifiers>
                        <cusip value="000000000"/>
                        <other otherDesc="INTERNAL" value="SOFR_RATE_US"/>
                      </identifiers>
                    </otherRefInst>
                  </descRefInstrmnt>
                  <expDate>2026-12-15</expDate>
                  <notionalAmt>0.00000000</notionalAmt>
                  <curCd>USD</curCd>
                </futrDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <shareNo>2500.00000000</shareNo>
            <exercisePrice>97.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-09-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-37239.30000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
        <cusip>95000U2M4</cusip>
        <identifiers>
          <isin value="US95000U2M49"/>
          <other otherDesc="SEDOL" value="BMFVFL7"/>
        </identifiers>
        <balance>780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>710766.93000000</valUSD>
        <pctVal>0.093471457608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.01300000</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>Clarios Global LP</name>
        <lei>549300474L1ZLXZY2P98</lei>
        <title>CLARIOS GLOBAL LP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XAC8000CAM55"/>
          <other otherDesc="INTERNAL" value="BL4680841"/>
        </identifiers>
        <balance>204050.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203732.44000000</valUSD>
        <pctVal>0.026792422839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.82681000</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>Scientific Games International, Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
        <title>LIGHT &amp; WONDER INTERNATIONAL INC</title>
        <cusip>80875AAW1</cusip>
        <identifiers>
          <isin value="US80875AAW18"/>
          <other otherDesc="INTERNAL" value="BL4687168"/>
        </identifiers>
        <balance>408098.94000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408966.15000000</valUSD>
        <pctVal>0.053782274525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.56370000</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>MARS INC</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars Inc</title>
        <cusip>571676BA2</cusip>
        <identifiers>
          <isin value="US571676BA26"/>
          <other otherDesc="SEDOL" value="BR4XVJ9"/>
        </identifiers>
        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283494.51000000</valUSD>
        <pctVal>0.037281764183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</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>WILLIAMS COMPANIES INC</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos Inc/The</title>
        <cusip>969457BB5</cusip>
        <identifiers>
          <isin value="US969457BB59"/>
          <other otherDesc="SEDOL" value="2830807"/>
        </identifiers>
        <balance>2000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2264.23000000</valUSD>
        <pctVal>0.000297764104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nexstar Media Inc</name>
        <lei>5493006PK6I4I2OOT688</lei>
        <title>NEXSTAR MEDIA INC</title>
        <cusip>65336RBB3</cusip>
        <identifiers>
          <isin value="US65336RBB33"/>
          <other otherDesc="INTERNAL" value="BL5133790"/>
        </identifiers>
        <balance>5460000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5456587.50000000</valUSD>
        <pctVal>0.717584296151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</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>CAMERON LNG LLC</name>
        <lei>549300C39FLHGVD73K22</lei>
        <title>Cameron LNG LLC</title>
        <cusip>133434AB6</cusip>
        <identifiers>
          <isin value="US133434AB69"/>
          <other otherDesc="SEDOL" value="BKPK082"/>
        </identifiers>
        <balance>2640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2264444.71000000</valUSD>
        <pctVal>0.297792340615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30200000</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>Vertiv Group Corporation</name>
        <lei>549300ZT8RQ5VK10E643</lei>
        <title>VERTIV GROUP CORP</title>
        <cusip>92537EAF5</cusip>
        <identifiers>
          <isin value="US92537EAF51"/>
          <other otherDesc="INTERNAL" value="BL4874071"/>
        </identifiers>
        <balance>408969.85000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>409875.72000000</valUSD>
        <pctVal>0.053901890154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.07413000</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>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA Inc</title>
        <cusip>87264ABL8</cusip>
        <identifiers>
          <isin value="US87264ABL89"/>
          <other otherDesc="SEDOL" value="BN0ZLS0"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>732236.52000000</valUSD>
        <pctVal>0.096294878038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-08-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Legg Mason Partners Institutional Trust</ncom:nameOfApplicant>
      <ncom:signature>Christopher Berarducci</ncom:signature>
      <ncom:signerName>Christopher Berarducci</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
