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          <annualizedRt>4.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hyundai Auto Lease Securitization Trust</name>
        <lei>N/A</lei>
        <title>Hyundai Auto Lease Securitization Trust 2024-C</title>
        <cusip>448984AD6</cusip>
        <identifiers>
          <isin value="US448984AD63"/>
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        <balance>5500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5513718.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC GAS &amp; ELECTRIC</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co</title>
        <cusip>694308KQ9</cusip>
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          <isin value="US694308KQ98"/>
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        <balance>1105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1120083.42000000</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>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Magnetite CLO Ltd</name>
        <lei>5299008V4F49IY3SSP69</lei>
        <title>Magnetite XL Ltd</title>
        <cusip>55955RAA7</cusip>
        <identifiers>
          <isin value="US55955RAA77"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5013750.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VICI PROPERTIES / NOTE</name>
        <lei>N/A</lei>
        <title>VICI Properties LP / VICI Note Co Inc</title>
        <cusip>92564RAB1</cusip>
        <identifiers>
          <isin value="US92564RAB15"/>
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        <balance>865000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>839148.70000000</valUSD>
        <pctVal>0.076006510739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VISTRA OPERATIONS CO LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co LLC</title>
        <cusip>92840VAL6</cusip>
        <identifiers>
          <isin value="US92840VAL62"/>
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        <balance>440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>439543.46000000</valUSD>
        <pctVal>0.039811972196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CAROLINAS</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>Duke Energy Carolinas LLC</title>
        <cusip>26442CAX2</cusip>
        <identifiers>
          <isin value="US26442CAX20"/>
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        <balance>1335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1315807.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARI Fleet Lease Trust</name>
        <lei>N/A</lei>
        <title>ARI Fleet Lease Trust 2025-A</title>
        <cusip>04033CAD8</cusip>
        <identifiers>
          <isin value="US04033CAD83"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2492156.50000000</valUSD>
        <pctVal>0.225728908096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac - STACR</name>
        <lei>529900P3PHNE8PW64Z68</lei>
        <title>Freddie Mac STACR REMIC Trust 2024-DNA3</title>
        <cusip>35564NEZ2</cusip>
        <identifiers>
          <isin value="US35564NEZ24"/>
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        <balance>1805240.66000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1803547.16000000</valUSD>
        <pctVal>0.163357610618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.34000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140X72U2</cusip>
        <identifiers>
          <isin value="US3140X72U21"/>
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        <balance>337934.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>340889.40000000</valUSD>
        <pctVal>0.030876308146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>Citibank NA</title>
        <cusip>17325FBC1</cusip>
        <identifiers>
          <isin value="US17325FBC14"/>
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        <balance>1160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1179567.37000000</valUSD>
        <pctVal>0.106840182169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.49000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Discover Card Execution Note Trust</name>
        <lei>549300CKCX1QE4RUW216</lei>
        <title>Discover Card Execution Note Trust</title>
        <cusip>254683CY9</cusip>
        <identifiers>
          <isin value="US254683CY96"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4996333.50000000</valUSD>
        <pctVal>0.452546581821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.31000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Poland Government International Bonds</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland Government International Bond</title>
        <cusip>857524AF9</cusip>
        <identifiers>
          <isin value="US857524AF94"/>
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        <balance>2215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2234628.11000000</valUSD>
        <pctVal>0.202403084746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mercedes-Benz Auto Lease Trust</name>
        <lei>N/A</lei>
        <title>Mercedes-Benz Auto Lease Trust 2024-A</title>
        <cusip>58770JAC8</cusip>
        <identifiers>
          <isin value="US58770JAC80"/>
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        <balance>2572547.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2571969.78000000</valUSD>
        <pctVal>0.232958054638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.77000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBVA BANCOMER SA TEXAS</name>
        <lei>549300WIWQK5Q9MCUN92</lei>
        <title>BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX</title>
        <cusip>05533UAH1</cusip>
        <identifiers>
          <isin value="US05533UAH14"/>
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        <balance>3490000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3437915.59000000</valUSD>
        <pctVal>0.311391733327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.88000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARNIVAL CORP</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp</title>
        <cusip>143658BL5</cusip>
        <identifiers>
          <isin value="US143658BL56"/>
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        <balance>1882000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1882551.50000000</valUSD>
        <pctVal>0.170513486825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.63000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA Inc</title>
        <cusip>87264ABD6</cusip>
        <identifiers>
          <isin value="US87264ABD63"/>
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        <balance>4850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4779792.71000000</valUSD>
        <pctVal>0.432933240490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Canyon Capital CLO Ltd</name>
        <lei>N/A</lei>
        <title>Canyon Capital CLO 2019-2 Ltd</title>
        <cusip>13887WAS9</cusip>
        <identifiers>
          <isin value="US13887WAS98"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1093920.30000000</valUSD>
        <pctVal>0.099082635806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.32000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140X4W77</cusip>
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        <balance>1788288.54000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-04-01</maturityDt>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Owner Trust 2024-B</title>
        <cusip>34531QAD1</cusip>
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          <isin value="US34531QAD16"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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      <invstOrSec>
        <name>VICI PROPERTIES LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
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        <balance>885000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>2549001LFFVBUD1OX384</lei>
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          <isin value="US26246EAL20"/>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-18</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>AON NORTH AMERICA INC</name>
        <lei>N/A</lei>
        <title>Aon North America Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
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      <invstOrSec>
        <name>BANK OF NY MELLON CORP</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-25</maturityDt>
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      <invstOrSec>
        <name>Onslow Bay Financial LLC</name>
        <lei>254900L7QTAO1E3CDI14</lei>
        <title>OBX 2023-NQM8 Trust</title>
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          <isin value="US67118CAA99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BUNGE LTD FINANCE CORP</name>
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        <title>Bunge Ltd Finance Corp</title>
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          <isin value="US120568BE94"/>
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        <balance>3450000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Freddie Mac - STACR</name>
        <lei>529900WZAMS87JCAOC53</lei>
        <title>Freddie Mac STACR REMIC Trust 2025-DNA1</title>
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        <balance>3600000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Verus Securitization Trust</name>
        <lei>984500915DDB7T2ACA27</lei>
        <title>Verus Securitization Trust 2023-6</title>
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        <balance>5150615.51000000</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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          <couponKind>Variable</couponKind>
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        <name>PACIFICORP</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PacifiCorp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BMO 2022-C1 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO 2022-C1 Mortgage Trust</title>
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          <isin value="US05609MCC73"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>AVIATION CAPITAL GROUP</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>Aviation Capital Group LLC</title>
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        <invCountry>US</invCountry>
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        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Radnor Re LTD</name>
        <lei>N/A</lei>
        <title>Radnor Re 2024-1 Ltd</title>
        <cusip>75049AAA0</cusip>
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        <valUSD>983561.69000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>CD Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CD 2019-CD8 Mortgage Trust</title>
        <cusip>12515BAE8</cusip>
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          <isin value="US12515BAE83"/>
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        <balance>5000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.91000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XK2J8</cusip>
        <identifiers>
          <isin value="US3140XK2J88"/>
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        <balance>200340.32000000</balance>
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        <name>SEMPRA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PARKER-HANNIFIN CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>World Omni Auto Receivables Trust</name>
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        <name>ARTHUR J GALLAGHER &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVIATION CAPITAL GROUP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Structured Pass Through Securities</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Structured Pass-Through Certificates</title>
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        <balance>5870.12000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UMBS, TBA</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140HJJG7</cusip>
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        <balance>2554810.20000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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          <maturityDt>2030-02-15</maturityDt>
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        <name>PNC BANK NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
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        <name>MARS INC</name>
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        <title>Mars Inc</title>
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        <name>BANK OF MONTREAL</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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        <invCountry>CA</invCountry>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <issuerCat>UST</issuerCat>
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        <name>BLACKSTONE PRIVATE CRE</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BLUE OWL CREDIT INCOME</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>Blue Owl Credit Income Corp</title>
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        <balance>1565000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bain Capital Credit CLO, Limited</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Intercontinental Exchange, Inc.</name>
        <lei>5493000F4ZO33MV32P92</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
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          <isin value="US05578AAY47"/>
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        <balance>1065000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
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          <isin value="US174610BJ37"/>
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        <balance>2360000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Credit Auto Lease Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Lease Trust 2024-A</title>
        <cusip>345290AD2</cusip>
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          <isin value="US345290AD29"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5016737.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>US LONG BOND(CBT) JUN25</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Bloomberg Identifier" value="BBG01PSLLQ96"/>
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        <balance>-68.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8706.72000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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              <indexBasketInfo>
                <indexName>CBOT U.S. Long Bond Futures</indexName>
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      <invstOrSec>
        <name>MORGAN STANLEY BANK NA</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
        <title>Morgan Stanley Bank NA</title>
        <cusip>61690U8B9</cusip>
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          <isin value="US61690U8B93"/>
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        <balance>1985000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Hyundai Auto Lease Securitization Trust</name>
        <lei>N/A</lei>
        <title>Hyundai Auto Lease Securitization Trust 2024-A</title>
        <cusip>448988AD7</cusip>
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          <isin value="US448988AD77"/>
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        <balance>5800000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities</title>
        <cusip>20755CAA6</cusip>
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          <isin value="US20755CAA62"/>
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        <balance>1831431.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1834903.54000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MET TOWER GLOBAL FUNDING</name>
        <lei>635400OFJCY9IOGBGY57</lei>
        <title>Met Tower Global Funding</title>
        <cusip>58989V2E3</cusip>
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          <isin value="US58989V2E38"/>
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        <balance>6120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6109707.63000000</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>2025-06-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GLS6</cusip>
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          <isin value="US06051GLS65"/>
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        <balance>2670000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2766982.65000000</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>5.82000000</annualizedRt>
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      <invstOrSec>
        <name>Chase Issuance Trust</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>Chase Issuance Trust</title>
        <cusip>161571HV9</cusip>
        <identifiers>
          <isin value="US161571HV96"/>
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        <balance>5300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5330090.22000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F052649</cusip>
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          <isin value="US01F0526495"/>
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        <balance>12470000.00000000</balance>
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        <valUSD>12453423.63000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2022-B32 Mortgage Trust</title>
        <cusip>08163NBJ3</cusip>
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          <isin value="US08163NBJ37"/>
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        <balance>4860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4187894.08000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Canyon Capital CLO Ltd</name>
        <lei>2549001ZLWJBJYTM8I33</lei>
        <title>Canyon CLO 2020-2 Ltd</title>
        <cusip>13876NAW3</cusip>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1596785.60000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.33000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MA'ADEN SUKUK LTD</name>
        <lei>254900QDNU6I6VA8UL14</lei>
        <title>Ma'aden Sukuk Ltd</title>
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          <isin value="US55407NAA00"/>
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        <balance>2240000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-13</maturityDt>
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      <invstOrSec>
        <name>TELECOMMUNICATIONS CO TE</name>
        <lei>254900OVY0XI1DFYC092</lei>
        <title>Telecommunications co Telekom Srbija AD Belgrade</title>
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          <isin value="US87945BAA89"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-28</maturityDt>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP/GLOBA</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</title>
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          <isin value="US00774MBJ36"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GM Financial Automobile Leasing Trust</name>
        <lei>N/A</lei>
        <title>GM Financial Automobile Leasing Trust 2024-1</title>
        <cusip>36269FAD8</cusip>
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          <isin value="US36269FAD87"/>
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        <balance>14650000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KINDER MORGAN INC</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan Inc</title>
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          <isin value="US49456BAZ40"/>
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        <balance>2140000.00000000</balance>
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        <curCd>USD</curCd>
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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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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFH3</cusip>
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          <isin value="US61747YFH36"/>
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        <balance>694000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.41000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK LIFE GLOBAL FDG</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>New York Life Global Funding</title>
        <cusip>64953BBF4</cusip>
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          <isin value="US64953BBF40"/>
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        <balance>2580000.00000000</balance>
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        <curCd>USD</curCd>
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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>2026-09-18</maturityDt>
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      <invstOrSec>
        <name>BANK OF NY MELLON CORP</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The</title>
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          <isin value="US064058AN00"/>
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        <curCd>USD</curCd>
        <valUSD>1680873.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
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          <isin value="US8574927062"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FIFTH THIRD BANK NA</name>
        <lei>QFROUN1UWUYU0DVIWD51</lei>
        <title>Fifth Third Bank NA</title>
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          <isin value="US31677QBU22"/>
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        <balance>2810000.00000000</balance>
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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>2028-01-28</maturityDt>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>07330MAC1</cusip>
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          <isin value="US07330MAC10"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc</title>
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        <curCd>USD</curCd>
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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>2029-08-15</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>SK HYNIX INC</name>
        <lei>988400XAIK6XISWQV045</lei>
        <title>SK Hynix Inc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AVANGRID INC</name>
        <lei>549300OX0Q38NLSKPB49</lei>
        <title>Avangrid Inc</title>
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          <isin value="US05351WAC73"/>
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        <valUSD>2627874.30000000</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>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BANCO DE CREDITO DEL PER</name>
        <lei>549300EQYQ8SCQZ4BY14</lei>
        <title>Banco de Credito del Peru S.A.</title>
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        <valUSD>2240738.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XLL71</cusip>
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        <balance>679119.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>708071.31000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>Huntington Auto Trust</name>
        <lei>N/A</lei>
        <title>Huntington Auto Trust 2024-1</title>
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        <balance>10000000.00000000</balance>
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        <valUSD>10098375.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.23000000</annualizedRt>
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        <name>RTX CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trestles CLO LTD</name>
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        <balance>7000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOVELIS CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
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          <isin value="US344940AD34"/>
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        <balance>11000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PFS Financing Corp.</name>
        <lei>N/A</lei>
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        <cusip>69335PFE0</cusip>
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          <isin value="US69335PFE07"/>
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        <fairValLevel>2</fairValLevel>
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        <name>US BANCORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARI Fleet Lease Trust</name>
        <lei>N/A</lei>
        <title>ARI Fleet Lease Trust 2024-B</title>
        <cusip>04033HAB1</cusip>
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          <isin value="US04033HAB15"/>
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        <balance>5527670.22000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5563589.02000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.54000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3138ESAD0</cusip>
        <identifiers>
          <isin value="US3138ESAD06"/>
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        <balance>2720757.69000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2783507.99000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>TARGA RESOURCES PARTNERS</name>
        <lei>N/A</lei>
        <title>Targa Resources Partners LP / Targa Resources Partners Finance Corp</title>
        <cusip>87612BBG6</cusip>
        <identifiers>
          <isin value="US87612BBG68"/>
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        <balance>2375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2375530.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae - CAS</name>
        <lei>N/A</lei>
        <title>Connecticut Avenue Securities Series 2025-R01</title>
        <cusip>20755JAC7</cusip>
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          <isin value="US20755JAC71"/>
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        <balance>1570000.00000000</balance>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2045-01-25</maturityDt>
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        <name>NORTHWESTERN MUTUAL GLBL</name>
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        <title>Northwestern Mutual Global Funding</title>
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        <balance>685000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Porsche Innovative Lease Owner Trust</name>
        <lei>N/A</lei>
        <title>Porsche Innovative Lease Owner Trust 2024-1</title>
        <cusip>73328AAD1</cusip>
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          <isin value="US73328AAD19"/>
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        <balance>3200000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.67000000</annualizedRt>
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        <name>DEUTSCHE BANK NY</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG/New York NY</title>
        <cusip>251526CU1</cusip>
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          <isin value="US251526CU14"/>
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        <balance>1440000.00000000</balance>
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        <valUSD>1527007.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-20</maturityDt>
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      <invstOrSec>
        <name>World Omni Automobile Lease Securitization Trust</name>
        <lei>N/A</lei>
        <title>World Omni Automobile Lease Securitization Trust 2025-A</title>
        <cusip>98164PAC4</cusip>
        <identifiers>
          <isin value="US98164PAC41"/>
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        <balance>3500000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MAUSER PACKAGING SOLUT</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co</title>
        <cusip>57763RAD9</cusip>
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          <isin value="US57763RAD98"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2646000.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.88000000</annualizedRt>
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      <invstOrSec>
        <name>Octagon Investment Partners 51 Ltd</name>
        <lei>N/A</lei>
        <title>Octagon Investment Partners 51 Ltd</title>
        <cusip>675943AA2</cusip>
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        <balance>2300000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <debtSec>
          <maturityDt>2034-07-20</maturityDt>
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      <invstOrSec>
        <name>ORACLE CORP</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp</title>
        <cusip>68389XCZ6</cusip>
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        <balance>930000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>POPULAR INC</name>
        <lei>5493008CARDZMVQ3LO89</lei>
        <title>Popular Inc</title>
        <cusip>733174AL0</cusip>
        <identifiers>
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        <name>Fannie Mae</name>
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        <name>Chicago Board of Trade</name>
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        <name>NextGear Floorplan Master Owner Trust</name>
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        <name>BOEING CO</name>
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        <name>Fannie Mae</name>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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      <invstOrSec>
        <name>COCA-COLA CONSOLIDATED</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP/GLOBA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CREDIT AGRICOLE LONDON</name>
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        <name>Enterprise Fleet Financing LLC</name>
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        <name>FORD MOTOR CREDIT CO LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <name>Verizon Master Trust</name>
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        <name>PFS Financing Corp.</name>
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        <name>Chicago Board of Trade</name>
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        <name>Ford Credit Auto Owner Trust</name>
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        <name>CASTLELAKE AVIATION FIN</name>
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        <title>Castlelake Aviation Finance DAC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <balance>5942763.52000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNH Equipment Trust</name>
        <lei>N/A</lei>
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        <cusip>18978FAB2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DIAMONDBACK ENERGY INC</name>
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        <title>Diamondback Energy Inc</title>
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          <isin value="US25278XAX75"/>
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        <balance>920000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
        <lei>N/A</lei>
        <title>Toyota Auto Receivables 2024-A Owner Trust</title>
        <cusip>89238DAD0</cusip>
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          <isin value="US89238DAD03"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1206820.08000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83000000</annualizedRt>
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      <invstOrSec>
        <name>SITIOS LATINOAMERICA</name>
        <lei>984500D2C0CDC0BFDD35</lei>
        <title>Sitios Latinoamerica SAB de CV</title>
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          <isin value="US82983PAA12"/>
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        <balance>2200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2217754.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YEX9</cusip>
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          <isin value="US61747YEX94"/>
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        <balance>12400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.14000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
        <cusip>91159HJT8</cusip>
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          <isin value="US91159HJT86"/>
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        <balance>1950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1965958.66000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475CB9</cusip>
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          <isin value="US693475CB94"/>
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        <balance>2670000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2716797.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.22000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AIR LEASE CORP</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Air Lease Corp</title>
        <cusip>00914AAJ1</cusip>
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          <isin value="US00914AAJ16"/>
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        <balance>755000.00000000</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>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.88000000</annualizedRt>
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      <invstOrSec>
        <name>ORACLE CORP</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp</title>
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        <balance>1530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1619639.38000000</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>2029-11-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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      <invstOrSec>
        <name>VIRGINIA POWER FUEL SEC</name>
        <lei>254900BELJ95ONW6U791</lei>
        <title>Virginia Power Fuel Securitization LLC</title>
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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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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.09000000</annualizedRt>
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      <invstOrSec>
        <name>AGL CLO Ltd.</name>
        <lei>254900ISUA07JPVCOS18</lei>
        <title>AGL CLO 17 Ltd</title>
        <cusip>00120DAJ5</cusip>
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          <isin value="US00120DAJ54"/>
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        <balance>2150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2140331.45000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-21</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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          <isin value="US225401BH08"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300LGCRX4YI1JNS93</lei>
        <title>Neuberger Berman Loan Advisers Clo 42 Ltd</title>
        <cusip>64133WAL9</cusip>
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          <isin value="US64133WAL90"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-16</maturityDt>
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      <invstOrSec>
        <name>Volkswagen Auto Loan Enhanced Trust</name>
        <lei>N/A</lei>
        <title>Volkswagen Auto Loan Enhanced Trust 2023-2</title>
        <cusip>92867YAC8</cusip>
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          <isin value="US92867YAC84"/>
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        <balance>3795948.24000000</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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      <invstOrSec>
        <name>JD.com Inc</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.com Inc</title>
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        <balance>3470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3447451.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.88000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140X4W69</cusip>
        <identifiers>
          <isin value="US3140X4W698"/>
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        <balance>308310.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304320.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATIONAL RURAL UTIL COOP</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp</title>
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      <invstOrSec>
        <name>HalseyPoint CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRIME SECSRVC BRW/FINANC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AEP TEXAS INC</name>
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        <title>AEP Texas Inc</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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      <invstOrSec>
        <name>CITIBANK NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-30</maturityDt>
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      <invstOrSec>
        <name>STATE STREET CORP</name>
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          <isin value="US857477CL59"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-18</maturityDt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <title>JPMorgan Chase &amp; Co</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-22</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418FBP1</cusip>
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          <isin value="US31418FBP18"/>
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        <balance>11952480.71000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
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      <invstOrSec>
        <name>VICI PROPERTIES LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
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        <issuerConditional desc="REIT" issuerCat="OTHER"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DEUTSCHE BANK NY</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-18</maturityDt>
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        <name>ROYALTY PHARMA PLC</name>
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        <title>Royalty Pharma PLC</title>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>AVIATION CAPITAL GROUP</name>
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        <title>Aviation Capital Group LLC</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Ford Credit Floorplan Master Owner Trust</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
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        <name>BANCO CONTINENTAL S.A.E.</name>
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        <invCountry>PY</invCountry>
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        <name>Verizon Master Trust</name>
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        <title>Verizon Master Trust</title>
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        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Express Credit Account Master Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac - STACR</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <name>BANK OF MONTREAL</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-31</maturityDt>
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      <invstOrSec>
        <name>OCCU Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>OCCU Auto Receivables Trust 2023-1</title>
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        <balance>815263.91000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-15</maturityDt>
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        <name>FIRSTENERGY PENN ELECTRI</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <balance>3675000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.24000000</annualizedRt>
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        <name>SIRIUS XM RADIO LLC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>CBAM CLO Management</name>
        <lei>N/A</lei>
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        <cusip>12511AAA2</cusip>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-20</maturityDt>
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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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        <fairValLevel>2</fairValLevel>
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        <name>FREMF Mortgage Trust</name>
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          <annualizedRt>3.49000000</annualizedRt>
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        <name>ACCENTURE CAPITAL INC</name>
        <lei>254900FRO0P7RIINYT25</lei>
        <title>Accenture Capital Inc</title>
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        <name>SOUTHERN CO</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <balance>603420.44000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <name>Benefit Street Partners CLO Ltd</name>
        <lei>549300D98ZLKNSI8CN63</lei>
        <title>Benefit Street Partners CLO VIII Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Wheels Fleet Lease Funding LLC</name>
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        <name>World Omni Auto Receivables Trust</name>
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        <name>PNC FINANCIAL SERVICES</name>
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        <name>RIO TINTO FIN USA PLC</name>
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        <name>Fannie Mae</name>
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        <name>ORACLE CORP</name>
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        <name>PRIME SECSRVC BRW/FINANC</name>
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        <name>Carlyle Global Market Strategies</name>
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        <name>Fannie Mae</name>
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        <name>Fannie Mae</name>
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          <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="The Fund accounts for Callable Taxable Bond Premiums under ASU 2017-08. An adjustment to account for the premium calculation is made for quarterly reporting purposes, but due to timing and complexity, is not reflected in N-PORT." noteItem="B.5.d"/>
      <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>2025-04-21</ncom:dateSigned>
      <ncom:nameOfApplicant>LINCOLN VARIABLE INSURANCE PRODUCTS TRUST</ncom:nameOfApplicant>
      <ncom:signature>James Hoffmayer</ncom:signature>
      <ncom:signerName>James Hoffmayer</ncom:signerName>
      <ncom:title>VP</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
