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        <name>LFS 2021A, LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Shellpoint Co-Originator Trust</name>
        <lei>N/A</lei>
        <title>Shellpoint Co-Originator Trust 2017-2</title>
        <cusip>82281FAA2</cusip>
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          <isin value="US82281FAA21"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Trinity Rail Leasing L.P.</name>
        <lei>N/A</lei>
        <title>Trinity Rail Leasing 2019-1 LLC</title>
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          <isin value="US89657BAA26"/>
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          <maturityDt>2049-04-17</maturityDt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3137B6B342"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-04-15</maturityDt>
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      <invstOrSec>
        <name>Agate Bay Mortgage Loan Trust</name>
        <lei>549300TSTBCBQ5EBD390</lei>
        <title>Agate Bay Mortgage Trust 2016-2</title>
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          <isin value="US00842EAC57"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust Inc</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-25</maturityDt>
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      <invstOrSec>
        <name>AFN ABSPROP001 Llc</name>
        <lei>N/A</lei>
        <title>AFN ABSPROP001 LLC 2019-1</title>
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          <isin value="US00109BAA35"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SSM HEALTH CARE</name>
        <lei>5493000QP6H63JFPC580</lei>
        <title>SSM Health Care Corp</title>
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          <isin value="US784710AA32"/>
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        <balance>4990000.00000000</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>2027-06-01</maturityDt>
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      <invstOrSec>
        <name>Hertz Vehicle Financing LLC</name>
        <lei>N/A</lei>
        <title>Hertz Vehicle Financing III LP</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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        <balance>3000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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          <maturityDt>2031-06-20</maturityDt>
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        <name>AVIATION CAPITAL GROUP</name>
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        <title>Aviation Capital Group LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-20</maturityDt>
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        <name>Kiavi Issuer Trust</name>
        <lei>N/A</lei>
        <title>Kiavi Issuer Trust 2022-SR1</title>
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          <isin value="US49375LAC19"/>
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        <balance>5000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-25</maturityDt>
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        <name>Arch Capital Group Ltd</name>
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        <title>Arch Capital Group Ltd</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-01</maturityDt>
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        <name>Structured Asset Securities Corporation</name>
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        <title>Structured Asset Securities Corp Mortgage Pass-Through Ctfs Ser 2003-34A</title>
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      <invstOrSec>
        <name>Impac CMB Trust</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>14000000.00000000</balance>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TA6</cusip>
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          <isin value="US912810TA60"/>
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        <balance>12000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Wholesale Mortgage LLC</name>
        <lei>N/A</lei>
        <title>UWM Mortgage Trust 2021-INV4</title>
        <cusip>918307AC3</cusip>
        <identifiers>
          <isin value="US918307AC33"/>
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        <balance>10404997.12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8471540.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Long Beach Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Long Beach Mortgage Loan Trust 2003-4</title>
        <cusip>542514EE0</cusip>
        <identifiers>
          <isin value="US542514EE00"/>
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        <balance>113351.89000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109522.32000000</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>2033-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.07000000</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>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2005-7</title>
        <cusip>12669GNL1</cusip>
        <identifiers>
          <isin value="US12669GNL13"/>
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        <balance>350274.06000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>317537.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.99000000</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>Oceanview Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Oceanview Mortgage Trust 2021-3</title>
        <cusip>67647VAD1</cusip>
        <identifiers>
          <isin value="US67647VAD10"/>
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        <balance>3853970.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3378242.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38375US27</cusip>
        <identifiers>
          <isin value="US38375US275"/>
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        <balance>1169456.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1113307.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OHIO POWER COMPANY</name>
        <lei>06ZODLC132CY1O2Y7D77</lei>
        <title>Ohio Power Co</title>
        <cusip>199575AV3</cusip>
        <identifiers>
          <isin value="US199575AV32"/>
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        <balance>2870000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2971607.13000000</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>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Arizona Board of Regents</name>
        <lei>N/A</lei>
        <title>ARIZONA BRD OF RGTS</title>
        <cusip>040664HN7</cusip>
        <identifiers>
          <isin value="US040664HN74"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006536.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.59900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CHC8</cusip>
        <identifiers>
          <isin value="US91282CHC82"/>
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        <balance>23000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21957812.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
        <cusip>759351AE9</cusip>
        <identifiers>
          <isin value="US759351AE91"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1866010.98000000</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>2065-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.31100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2018-2</title>
        <cusip>81746QAA9</cusip>
        <identifiers>
          <isin value="US81746QAA94"/>
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        <balance>358463.15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>316977.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mid-State Trust</name>
        <lei>N/A</lei>
        <title>Mid-State Trust XI</title>
        <cusip>59549WAA1</cusip>
        <identifiers>
          <isin value="US59549WAA18"/>
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        <balance>65799.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64715.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.86400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The</title>
        <cusip>808513BX2</cusip>
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          <isin value="US808513BX22"/>
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        <balance>1225000.00000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Thrust Engine Leasing</name>
        <lei>N/A</lei>
        <title>Thrust Engine Leasing 2021 DAC</title>
        <cusip>88603UAA7</cusip>
        <identifiers>
          <isin value="US88603UAA79"/>
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        <balance>4442166.19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3842607.02000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.16300000</annualizedRt>
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      <invstOrSec>
        <name>BAPTIST HLTH SO FLOR INC</name>
        <lei>K6I7TB5M0RZYIMZN1Q07</lei>
        <title>Baptist Health South Florida Inc</title>
        <cusip>066836AB3</cusip>
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          <isin value="US066836AB32"/>
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        <balance>3695000.00000000</balance>
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        <valUSD>3195687.70000000</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>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>OMEGA HLTHCARE INVESTORS</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>Omega Healthcare Investors Inc</title>
        <cusip>681936BK5</cusip>
        <identifiers>
          <isin value="US681936BK50"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4369028.36000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>First Horizon Alternative Mortgage Securities</name>
        <lei>N/A</lei>
        <title>First Horizon Alternative Mortgage Securities Trust 2006-RE1</title>
        <cusip>32051RAA9</cusip>
        <identifiers>
          <isin value="US32051RAA95"/>
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        <balance>545210.09000000</balance>
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        <curCd>USD</curCd>
        <valUSD>351274.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>POWAY CA UNIF SCH DIST POWSCD 08/27 FIXED 2.414</name>
        <lei>N/A</lei>
        <title>Poway Unified School District</title>
        <cusip>738850TA4</cusip>
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        <balance>3750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3514700.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.41400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Bayview Opportunity Master Fund</name>
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        <name>Comcast Corp</name>
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        <name>HF SINCLAIR CORP</name>
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        <name>Sequoia Mortgage Trust</name>
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        <name>Renaissance Home Equity Loan Trust</name>
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        <name>FLORIDA POWER &amp; LIGHT CO</name>
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        <name>Napa Valley Unified School District</name>
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        <name>Phillips 66</name>
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        <name>Morgan Stanley Mortgage Loan Trust</name>
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        <name>State of Hawaii Department of Business Economic Development &amp; Tourism</name>
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        <name>Saudi Arabian Oil Co</name>
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        <name>Beacon Container Finance II LLC</name>
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        <name>Lendmark Funding Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
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      <invstOrSec>
        <name>Will County School District No 122</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ROCKWELL AUTOMATION</name>
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        <title>Rockwell Automation Inc</title>
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        <name>Northern Trust Corp</name>
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        <name>PRINCIPAL LFE GLB FND II</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLKSWAGEN GROUP AMERICA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Miami-Dade County Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>MIAMI-DADE CNTY FL HLTH FACS AUTH HOSP REVENUE</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GENERAL MOTORS FINL CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEVADA POWER CO</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>Sequoia Mortgage Trust</name>
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        <name>United States Treasury</name>
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        <name>GATX CORP</name>
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        <name>Flagstar Mortgage Trust</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Rate Mortgage Trust</name>
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        <title>Rate Mortgage Trust 2021-J1</title>
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      <invstOrSec>
        <name>University of Cincinnati</name>
        <lei>549300E0RD3ICJ858L23</lei>
        <title>UNIV OF CINCINNATI OH RECPTS</title>
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        <curCd>USD</curCd>
        <valUSD>2638328.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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      <invstOrSec>
        <name>SPRINT SPECTRUM / SPEC I</name>
        <lei>N/A</lei>
        <title>Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC</title>
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          <isin value="US85208NAD21"/>
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        <balance>625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>620276.24000000</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>2025-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.73800000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38379FFS3</cusip>
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          <isin value="US38379FFS39"/>
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        <balance>82919.58000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76211.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
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          <isin value="US38380VF304"/>
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        <curCd>USD</curCd>
        <valUSD>425513.19000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vantage Data Centers LLC</name>
        <lei>5493000RL8X7WTQ7HO20</lei>
        <title>Vantage Data Centers Issuer LLC</title>
        <cusip>92212KAB2</cusip>
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          <isin value="US92212KAB26"/>
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        <balance>8250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7673859.60000000</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>2045-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.64500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810QX90"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>South Carolina Student Loan Corporation</name>
        <lei>N/A</lei>
        <title>South Carolina Student Loan Corp 2015-A</title>
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          <isin value="US83715RAH57"/>
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        <balance>737488.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>738061.08000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282A7</cusip>
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          <isin value="US9128282A70"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4690429.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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          <isin value="US902613AP31"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2463556.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75100000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PepsiCo Inc</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo Inc</title>
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        <balance>2190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2057553.90000000</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>2046-04-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>EMORY UNIVERSITY</name>
        <lei>95MD72NUUVZ3P8PQ6919</lei>
        <title>Emory University</title>
        <cusip>29157TAC0</cusip>
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          <isin value="US29157TAC09"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1905140.68000000</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>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.56600000</annualizedRt>
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      <invstOrSec>
        <name>HEALTHCARE RLTY HLDGS LP</name>
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        <title>Healthcare Realty Holdings LP</title>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2013-3</title>
        <cusip>46640MAC4</cusip>
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          <isin value="US46640MAC47"/>
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        <balance>437694.57000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>MERCEDES-BENZ FIN NA</name>
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        <title>Mercedes-Benz Finance North America LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>Chase Funding Mortgage Loan Asset-Backed CTFS</name>
        <lei>N/A</lei>
        <title>Chase Funding Trust Series 2002-3</title>
        <cusip>161546CW4</cusip>
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        <balance>513285.99000000</balance>
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        <curCd>USD</curCd>
        <valUSD>487854.41000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-25</maturityDt>
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      <invstOrSec>
        <name>PHYSICIANS REALTY LP</name>
        <lei>549300P6Q1UMT0X60U20</lei>
        <title>Physicians Realty LP</title>
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        <balance>1325000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967NF4</cusip>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1457380.12000000</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>2042-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90400000</annualizedRt>
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      <invstOrSec>
        <name>BURLINGTN NORTH SANTA FE</name>
        <lei>N/A</lei>
        <title>Burlington Northern Santa Fe LLC</title>
        <cusip>12189LAG6</cusip>
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        <balance>1220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1200167.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of Mississippi</name>
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      <invstOrSec>
        <name>US BANCORP</name>
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      <invstOrSec>
        <name>ASCENSION HEALTH</name>
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      <invstOrSec>
        <name>General Motors Co</name>
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      <invstOrSec>
        <name>Sierra Receivables Funding Co LLC</name>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <name>EQUIFAX INC</name>
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        <name>PNC Bank NA</name>
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        <name>HORACE MANN EDUCATORS CO</name>
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        <name>State Public School Building Authority</name>
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        <name>Freddie Mac</name>
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        <name>Winwater Mortgage Loan Trust</name>
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        <name>City of Houston TX</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Emerson Electric Co</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>Emerson Electric Co</title>
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        <invCountry>US</invCountry>
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        <name>Fannie Mae</name>
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        <name>Freddie Mac</name>
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      <invstOrSec>
        <name>Global SC Finance SRL</name>
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        <name>HENRY J KAISER FAMILY FO</name>
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        <name>TENNESSEE GAS PIPELINE</name>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
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        <name>NEW YORK LIFE GLOBAL FDG</name>
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      <invstOrSec>
        <name>MASTR Alternative Loans Trust</name>
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        <name>KANSAS CITY SOUTHERN RY</name>
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        <name>Longtrain Leasing III LLC</name>
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        <name>SUN COMMUNITIES OPER LP</name>
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        <name>Countrywide Alternative Loan Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Curators of the University of Missouri/The</name>
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        <name>ADVENT HEALTH SYSTEM</name>
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        <title>Adventist Health System/West</title>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <name>WENDYS FUNDING LLC</name>
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        <name>Imperial Fund LLC</name>
        <lei>N/A</lei>
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        <name>GONZAGA UNIVERSITY</name>
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      <invstOrSec>
        <name>Credit Suisse First Boston Mortgage Securities</name>
        <lei>N/A</lei>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Non Gold Pool</title>
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        <name>NORTHWEST NATURAL GAS CO</name>
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        <title>Northwest Natural Gas Co</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Finance of America Structured Securities Trust</name>
        <lei>N/A</lei>
        <title>Finance of America Structured Securities Trust 2022-S4</title>
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          <isin value="US31737KAA88"/>
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        <name>LSTAR Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LSTAR Commercial Mortgage Trust 2016-4</title>
        <cusip>50219QAC8</cusip>
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          <isin value="US50219QAC87"/>
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        <balance>551037.83000000</balance>
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        <name>Pear LLC</name>
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        <title>PEAR 2023-1 LLC</title>
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        <name>Onslow Bay Financial LLC</name>
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        <title>OBX 2019-EXP1 Trust</title>
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        <name>TRUIST FINANCIAL CORP</name>
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        <title>Truist Financial Corp</title>
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        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2013-6</title>
        <cusip>81745BAA3</cusip>
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        <balance>972666.53000000</balance>
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      <invstOrSec>
        <name>Idaho Housing &amp; Finance Association</name>
        <lei>5493002WM3NYB1LQB744</lei>
        <title>IDAHO ST HSG &amp; FIN ASSN ECON DEV REVENUE</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>DCP MIDSTREAM OPERATING</name>
        <lei>549300Y6CTBSE0QIPL28</lei>
        <title>DCP Midstream Operating LP</title>
        <cusip>26439XAC7</cusip>
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          <isin value="US26439XAC74"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Accredited Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Accredited Mortgage Loan Trust 2004-4</title>
        <cusip>004375CB5</cusip>
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          <isin value="US004375CB53"/>
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        <balance>259110.22000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mayo Clinic</name>
        <lei>5493001OHMD58DCY4635</lei>
        <title>Mayo Clinic</title>
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          <isin value="US578454AB60"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
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          <annualizedRt>3.77400000</annualizedRt>
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      <invstOrSec>
        <name>GEORGIA-PACIFIC LLC</name>
        <lei>L2EVHWFHVAQK72TMH265</lei>
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          <isin value="US37331NAL55"/>
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        <balance>5000000.00000000</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>2027-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</annualizedRt>
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      <invstOrSec>
        <name>BERKSHIRE HATHAWAY FIN</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>Berkshire Hathaway Finance Corp</title>
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          <isin value="US084664CQ25"/>
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        <balance>4220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3815446.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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          <isin value="US94974BFY11"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2452560.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Urban Development Corp</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>NEW YORK ST URBAN DEV CORP REVENUE</title>
        <cusip>650036EP7</cusip>
        <identifiers>
          <isin value="US650036EP72"/>
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        <balance>830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>810744.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
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      <invstOrSec>
        <name>MASSMUTUAL GLOBAL FUNDIN</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MassMutual Global Funding II</title>
        <cusip>57629WCG3</cusip>
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          <isin value="US57629WCG33"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3920956.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE</title>
        <cusip>64990FY73</cusip>
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          <isin value="US64990FY731"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2520982.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.22900000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Gold Pool</title>
        <cusip>31288JT30</cusip>
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          <isin value="US31288JT302"/>
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        <balance>314203.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316989.36000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISVILLE GAS &amp; ELEC</name>
        <lei>KO3GRIB3RPH1XDX50U72</lei>
        <title>Louisville Gas and Electric Co</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>BOSTON GAS COMPANY</name>
        <lei>FN7P4E7K9JOBORDEUX61</lei>
        <title>Boston Gas Co</title>
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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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00100000</annualizedRt>
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      <invstOrSec>
        <name>WW Grainger Inc</name>
        <lei>549300TWZSP6O1IH2V34</lei>
        <title>WW Grainger Inc</title>
        <cusip>384802AB0</cusip>
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        <balance>3260000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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        <name>Triton Container Finance LLC</name>
        <lei>N/A</lei>
        <title>Triton Container Finance VIII LLC</title>
        <cusip>89680HAA0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.11000000</annualizedRt>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>313920T34</cusip>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>Sequoia Mortgage Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2021-MM1</title>
        <cusip>36264JAB9</cusip>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Fannie Mae</name>
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        <name>NP SPE LP</name>
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        <name>Residential Accredit Loans, Inc.</name>
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        <name>New York State Thruway Authority</name>
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        <name>City of Dearborn MI</name>
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        <title>Simon Property Group LP</title>
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      <invstOrSec>
        <name>Driven Brands Funding, LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Winwater Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>WinWater Mortgage Loan Trust 2015-5</title>
        <cusip>97654DAC0</cusip>
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          <isin value="US97654DAC02"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIRCASTLE LTD</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2004-10</title>
        <cusip>81744FET0</cusip>
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          <isin value="US81744FET03"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EQUITABLE FINANCIAL LIFE</name>
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        <title>Equitable Financial Life Global Funding</title>
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        <balance>3000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-12</maturityDt>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>Wells Fargo &amp; Co</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CDP Financial Inc</name>
        <lei>549300OXMGVYFCBFV096</lei>
        <title>CDP Financial Inc</title>
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        <balance>1000000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL CO</name>
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        <title>General Motors Financial Co Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418ATL2</cusip>
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        <balance>259254.59000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BP CAP MARKETS AMERICA</name>
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        <title>BP Capital Markets America Inc</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harvest SBA Loan Trust</name>
        <lei>N/A</lei>
        <title>Harvest SBA Loan Trust 2018-1</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MAGELLAN MIDSTREAM PARTN</name>
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        <title>Magellan Midstream Partners LP</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC Trust 2013-6</title>
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        <name>AXIS SPECIALTY FINANCE</name>
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        <title>AXIS Specialty Finance LLC</title>
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        <name>Sequoia Mortgage Trust</name>
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        <title>Sequoia Mortgage Trust 2013-2</title>
        <cusip>81745MAA9</cusip>
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        <balance>450080.96000000</balance>
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        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
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      <invstOrSec>
        <name>Structured Asset Investment Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Asset Investment Loan Trust 2003-BC5</title>
        <cusip>86358EBW5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC SERVICE ENTERPRIS</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group Inc</title>
        <cusip>744573AS5</cusip>
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        <balance>5500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Foothill-De Anza Community College District</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust 2017-3</title>
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          <isin value="US89169DAB73"/>
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        <balance>1850000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-07-25</maturityDt>
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      <invstOrSec>
        <name>CAL Funding IV Ltd</name>
        <lei>N/A</lei>
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          <isin value="US12807CAA18"/>
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        <balance>4300000.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3885949.57000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.22000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Winnebago IL</name>
        <lei>N/A</lei>
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          <isin value="US974450N611"/>
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        <balance>1035000.00000000</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>2025-12-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CDJ71"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Educational Financing Authority</name>
        <lei>5493007K5OP7V6CL0Y88</lei>
        <title>Massachusetts Educational Financing Authority</title>
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          <isin value="US57563NAB47"/>
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        <balance>1104537.99000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>FannieMae Whole Loan</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Trust 2003-W6</title>
        <cusip>31393BU94</cusip>
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          <isin value="US31393BU941"/>
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        <balance>42798.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43565.61000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Impac CMB Trust</name>
        <lei>N/A</lei>
        <title>Impac CMB Trust Series 2004-4</title>
        <cusip>45254NJF5</cusip>
        <identifiers>
          <isin value="US45254NJF50"/>
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        <balance>941871.66000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1015871.03000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.36500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trinity Rail Leasing L.P.</name>
        <lei>N/A</lei>
        <title>Trinity Rail Leasing 2020 LLC</title>
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        <balance>10315000.00000000</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>2050-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.56000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc</name>
        <lei>N/A</lei>
        <title>Citigroup Mortgage Loan Trust 2007-AR5</title>
        <cusip>17311LAE1</cusip>
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        <balance>3754.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3751.17000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.19900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BELL CANADA</name>
        <lei>5493000G3EFX9S7TDE29</lei>
        <title>Bell Telephone Co of Canada or Bell Canada</title>
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          <isin value="US0778FPAL33"/>
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        <balance>3850000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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          <isin value="US06051GHD43"/>
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        <balance>6749000.00000000</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>2028-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.41900000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Gold Pool</title>
        <cusip>31292HKY9</cusip>
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        <balance>26171.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27228.95000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>31394ABD7</cusip>
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          <isin value="US31394ABD72"/>
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        <balance>683.19000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2024-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>ASSURED GUARANTY US HLDG</name>
        <lei>5493007YCE0652G9TZ64</lei>
        <title>Assured Guaranty US Holdings Inc</title>
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          <isin value="US04621WAD20"/>
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        <balance>4715000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp</name>
        <lei>N/A</lei>
        <title>KENTUCKY ST HGR EDU STUDENT LOAN CORP</title>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3725701.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.68500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SBA Tower Trust</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAN0</cusip>
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          <isin value="US78403DAN03"/>
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        <balance>1575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1525194.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.83600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust 2018-2</title>
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        <balance>5500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810SJ88"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust</title>
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          <isin value="US863579CB23"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Social Professional Loan Program LLC</name>
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        <title>Sofi Professional Loan Program 2018-C Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <name>PacifiCorp</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Affirm Inc</name>
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        <title>Affirm Asset Securitization Trust 2022-A</title>
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        <name>JOHN DEERE CAPITAL CORP</name>
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        <title>John Deere Capital Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Mortgage Loan Trust 2007-12</title>
        <cusip>61755GBF9</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bear Stearns Asset Backed Securities Trust</name>
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        <cusip>07384YPJ9</cusip>
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          <isin value="US07384YPJ90"/>
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        <name>CANADIAN NATL RAILWAY</name>
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        <title>Canadian National Railway Co</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Idaho State Building Authority</name>
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        <title>IDAHO ST BLDG AUTH BLDG REVENUE</title>
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        <name>MetLife Inc</name>
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      <invstOrSec>
        <name>Credit Suisse Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSMC 2017-HL2 Trust</title>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <balance>4336426.95000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Ventas Realty LP</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>Ventas Realty LP</title>
        <cusip>92277GAE7</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>County of Allegheny PA</name>
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      <invstOrSec>
        <name>PPL ELECTRIC UTILITIES</name>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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        <name>CGI INC</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TEACHERS INSUR &amp; ANNUITY</name>
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        <title>Teachers Insurance &amp; Annuity Association of America</title>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
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        <name>DB Master Finance LLC</name>
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        <name>Impac Secured Assets Corp.</name>
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        <name>Freddie Mac</name>
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        <name>Flagstar Mortgage Trust</name>
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        <name>Kentucky State Property &amp; Building Commission</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>FANNIE MAE</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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        <name>MASSMUTUAL GLOBAL FUNDIN</name>
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        <title>MassMutual Global Funding II</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GCAT</name>
        <lei>N/A</lei>
        <title>GCAT 2022-CM1 Trust</title>
        <cusip>36168XAA7</cusip>
        <identifiers>
          <isin value="US36168XAA72"/>
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        <balance>5647165.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5091738.49000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-12-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.88500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2017-3</title>
        <cusip>46647SAE0</cusip>
        <identifiers>
          <isin value="US46647SAE00"/>
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        <balance>934080.10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>838411.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>549300BV8AJIRLDGMR51</lei>
        <title>JP Morgan Mortgage Trust 2014-2</title>
        <cusip>46641YAA1</cusip>
        <identifiers>
          <isin value="US46641YAA10"/>
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        <balance>363472.84000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348190.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMCAST CORP</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp</title>
        <cusip>20030NDL2</cusip>
        <identifiers>
          <isin value="US20030NDL29"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>980518.23000000</valUSD>
        <pctVal>0.085856926289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</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>REALTY INCOME CORP</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp</title>
        <cusip>756109AZ7</cusip>
        <identifiers>
          <isin value="US756109AZ71"/>
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        <balance>2400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2195689.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</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>AVALONBAY COMMUNITIES</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities Inc</title>
        <cusip>053484AC5</cusip>
        <identifiers>
          <isin value="US053484AC59"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1323070.11000000</valUSD>
        <pctVal>0.115851729661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Towd Point Asset Trust 2018-SL1</name>
        <lei>54930022FYEFQVX02P24</lei>
        <title>Towd Point Asset Trust 2018-SL1</title>
        <cusip>89174UAA4</cusip>
        <identifiers>
          <isin value="US89174UAA43"/>
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        <balance>90580.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90506.92000000</valUSD>
        <pctVal>0.007925039760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.05000000</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>WENDYS FUNDING LLC</name>
        <lei>5493009DRVSTWJOXUL48</lei>
        <title>Wendy's Funding LLC</title>
        <cusip>95058XAG3</cusip>
        <identifiers>
          <isin value="US95058XAG34"/>
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        <balance>2699951.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2600491.89000000</valUSD>
        <pctVal>0.227706363517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.78300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
        <cusip>05377RDQ4</cusip>
        <identifiers>
          <isin value="US05377RDQ48"/>
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        <balance>11100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10790865.00000000</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>2026-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.36000000</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>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
        <cusip>91159HJK7</cusip>
        <identifiers>
          <isin value="US91159HJK77"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1477140.78000000</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>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65300000</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>WARNERMEDIA HOLDINGS INC</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Warnermedia Holdings Inc</title>
        <cusip>55903VBA0</cusip>
        <identifiers>
          <isin value="US55903VBA08"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>960445.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Florida Development Finance Corp</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FLORIDA DEV FIN CORP HLTHCAREFACS REVENUE</title>
        <cusip>34061QBV8</cusip>
        <identifiers>
          <isin value="US34061QBV86"/>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1530526.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.22300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Diamond Infrastructure Funding LLC</name>
        <lei>N/A</lei>
        <title>Diamond Infrastructure Funding LLC</title>
        <cusip>25265LAA8</cusip>
        <identifiers>
          <isin value="US25265LAA89"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3554111.20000000</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>2049-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.76000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Trinity Rail Leasing L.P.</name>
        <lei>N/A</lei>
        <title>Trinity Rail Leasing 2019-2 LLC</title>
        <cusip>89657BAC8</cusip>
        <identifiers>
          <isin value="US89657BAC81"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2781154.50000000</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>2049-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Springdale AR Sales &amp; Use Tax Revenue</name>
        <lei>N/A</lei>
        <title>SPRINGDALE AR SALES &amp; USE REVENUE</title>
        <cusip>850269EY3</cusip>
        <identifiers>
          <isin value="US850269EY34"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1019669.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.16000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Residential Funding Mtg Sec I</name>
        <lei>N/A</lei>
        <title>RFMSI Series 2005-S7 Trust</title>
        <cusip>76111XZV8</cusip>
        <identifiers>
          <isin value="US76111XZV80"/>
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        <balance>43377.39000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32354.88000000</valUSD>
        <pctVal>0.002833084038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>31418CTR5</cusip>
        <identifiers>
          <isin value="US31418CTR50"/>
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        <balance>123019.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117019.48000000</valUSD>
        <pctVal>0.010246553874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Freddie Mac - SCRT</name>
        <lei>N/A</lei>
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        <name>Aligned Data Centers Issuer LLC</name>
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        <name>Freddie Mac</name>
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        <name>RBSGC Mortgage Pass Through Certificates</name>
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        <name>GEORGIA-PACIFIC LLC</name>
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        <name>Fannie Mae</name>
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        <name>Avant Credit Card Master Trust</name>
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        <name>Structured Asset Securities Corporation</name>
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        <name>City of Cincinnati OH</name>
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        <name>Government National Mortgage Association</name>
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        <name>Morgan Stanley Dean Witter Capital I Trust</name>
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        <name>Retained Vantage Data Centers Issuer, LLC</name>
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        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EverBank Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>EverBank Mortgage Loan Trust 2013-2</title>
        <cusip>29977KAA1</cusip>
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          <isin value="US29977KAA16"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Impac CMB Trust</name>
        <lei>N/A</lei>
        <title>Impac CMB Trust Series 2003-2F</title>
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          <isin value="US45254NDQ79"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-25</maturityDt>
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      <invstOrSec>
        <name>GBX Leasing 2022-1 LLC.</name>
        <lei>N/A</lei>
        <title>GBX Leasing 2022-1 LLC</title>
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          <isin value="US361528AA07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PG&amp;E WILDFIRE RECOVERY</name>
        <lei>N/A</lei>
        <title>PG&amp;E Wildfire Recovery Funding LLC</title>
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          <isin value="US693342AA56"/>
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        <balance>1008517.16000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fraser Public School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Inc/OH</title>
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          <isin value="US446150BA18"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-17</maturityDt>
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      <invstOrSec>
        <name>Beverly Hills Unified School District CA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Equifirst Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>EquiFirst Mortgage Loan Trust 2003-2</title>
        <cusip>29445FAG3</cusip>
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          <isin value="US29445FAG37"/>
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        <balance>98692.25000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <balance>27008.19000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential 2020-SFR2 Trust</title>
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          <isin value="US74333LAA44"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-17</maturityDt>
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        <name>Rutgers The State University of New Jersey</name>
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        <title>RUTGERS NJ ST UNIV</title>
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        <balance>4000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
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      <invstOrSec>
        <name>Onslow Bay Financial LLC</name>
        <lei>N/A</lei>
        <title>OBX 2019-INV2 Trust</title>
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      <invstOrSec>
        <name>Flagstar Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Flagstar Mortgage Trust 2021-8INV</title>
        <cusip>33852HAB8</cusip>
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          <isin value="US33852HAB87"/>
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        <balance>3257354.06000000</balance>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
        <cusip>36212U4H1</cusip>
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          <isin value="US36212U4H13"/>
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        <balance>50291.60000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TENNESSEE GAS PIPELINE</name>
        <lei>N/A</lei>
        <title>Tennessee Gas Pipeline Co LLC</title>
        <cusip>880451AW9</cusip>
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        <balance>628000.00000000</balance>
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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>2032-06-15</maturityDt>
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          <annualizedRt>8.37500000</annualizedRt>
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        <name>GUARDIAN LIFE GLOB FUND</name>
        <lei>635400NHILJ5JEKILC36</lei>
        <title>Guardian Life Global Funding</title>
        <cusip>40139LBA0</cusip>
        <identifiers>
          <isin value="US40139LBA08"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4414558.65000000</valUSD>
        <pctVal>0.386551136956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38380ADQ7</cusip>
        <identifiers>
          <isin value="US38380ADQ76"/>
        </identifiers>
        <balance>161227.29000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136970.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>KINDER MORGAN ENER PART</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
        <cusip>494550AT3</cusip>
        <identifiers>
          <isin value="US494550AT30"/>
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        <balance>4175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4256526.48000000</valUSD>
        <pctVal>0.372713396917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</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>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31383MHT3</cusip>
        <identifiers>
          <isin value="US31383MHT36"/>
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        <balance>7175.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7178.26000000</valUSD>
        <pctVal>0.000628548578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280DW6</cusip>
        <identifiers>
          <isin value="US404280DW61"/>
        </identifiers>
        <balance>3150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3400381.69000000</valUSD>
        <pctVal>0.297746957865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.33200000</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>Will County Forest Preserve District</name>
        <lei>N/A</lei>
        <title>WILL CNTY IL FOREST PRESERVE DIST</title>
        <cusip>968661GN2</cusip>
        <identifiers>
          <isin value="US968661GN21"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1052143.10000000</valUSD>
        <pctVal>0.092128600793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
        <cusip>36212S4U7</cusip>
        <identifiers>
          <isin value="US36212S4U77"/>
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        <balance>7245.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7541.80000000</valUSD>
        <pctVal>0.000660381160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160AN4</cusip>
        <identifiers>
          <isin value="US478160AN49"/>
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        <balance>4970000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5663125.64000000</valUSD>
        <pctVal>0.495879164471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</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>BAXTER INTERNATIONAL INC</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>Baxter International Inc</title>
        <cusip>071813CS6</cusip>
        <identifiers>
          <isin value="US071813CS61"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2501951.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.53900000</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>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The</title>
        <cusip>808513BT1</cusip>
        <identifiers>
          <isin value="US808513BT10"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2006007.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RBSGC Mortgage Pass Through Certificates</name>
        <lei>N/A</lei>
        <title>RBSGC Mortgage Loan Trust 2007-B</title>
        <cusip>74927XAF9</cusip>
        <identifiers>
          <isin value="US74927XAF96"/>
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        <balance>170712.55000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.05100000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York State Urban Development Corp</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>NEW YORK ST URBAN DEV CORP REVENUE</title>
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          <isin value="US650036EN25"/>
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        <balance>1120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1094016.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2005-27</title>
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          <isin value="US126694NV69"/>
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        <balance>332984.92000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRAVELERS COS INC</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos Inc/The</title>
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          <isin value="US89417EAP43"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1745407.34000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31389GRF9</cusip>
        <identifiers>
          <isin value="US31389GRF99"/>
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        <balance>17397.97000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>PAYPAL HOLDINGS INC</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings Inc</title>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3527694.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613AH1</cusip>
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          <isin value="US902613AH15"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1816526.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.49400000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICS</title>
        <cusip>3137FXYC6</cusip>
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          <isin value="US3137FXYC69"/>
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        <balance>614269.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>496265.13000000</valUSD>
        <pctVal>0.043454366663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Oregon Education Districts</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>University of Nebraska Facilities Corp/The</name>
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        <name>ServiceMaster Brands</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <name>TIF Funding II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-20</maturityDt>
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        <name>Banc of America Alternative Loan Trust</name>
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        <name>Longtrain Leasing III LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Star Trust</name>
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        <name>SHERWIN-WILLIAMS CO</name>
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        <name>Morgan Stanley Capital Inc</name>
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        <name>KEY BANK NA</name>
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        <name>Countrywide Alternative Loan Trust</name>
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        <name>State of Connecticut</name>
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        <name>United States Treasury</name>
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        <issuerCat>UST</issuerCat>
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      <invstOrSec>
        <name>City of National City CA</name>
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        <name>AMERICO LIFE INC</name>
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        <name>Freddie Mac</name>
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        <name>MASTR Alternative Loans Trust</name>
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        <name>Fannie Mae</name>
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        <name>CANADIAN PACIFIC RAILWAY</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <issuerCat>UST</issuerCat>
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        <name>South-Western City School District</name>
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        <name>KIMCO REALTY OP LLC</name>
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        <name>Indiana University</name>
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        <name>BRISTOL-MYERS SQUIBB CO</name>
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        <name>Freddie Mac</name>
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        <name>Entergy Louisiana LLC</name>
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        <name>Fannie Mae</name>
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        <name>Freddie Mac</name>
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        <name>Fannie Mae</name>
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        <name>CMFT Net Lease Master Issuer LLC</name>
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      <invstOrSec>
        <name>Portland Community College District</name>
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      <invstOrSec>
        <name>NATIONAL GRID USA</name>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <name>Fannie Mae</name>
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          <maturityDt>2044-03-25</maturityDt>
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        <name>AMGEN INC</name>
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        <name>MITSUBISHI UFJ FIN GRP</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-02</maturityDt>
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        <name>Ascension Health</name>
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        <title>Ascension Health</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-11-15</maturityDt>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TRUIST FINANCIAL CORP</name>
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        <name>United States Treasury</name>
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        <fairValLevel>1</fairValLevel>
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        <name>California Municipal Finance Authority</name>
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        <name>Government National Mortgage Association</name>
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        <name>RELIANCE STAND LIFE II</name>
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        <name>Structured Asset Securities Corporation</name>
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        <name>Wells Fargo Bank NA</name>
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        <name>Pfizer Inc</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOEING CO</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2021-10</title>
        <cusip>46654AAC3</cusip>
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          <isin value="US46654AAC36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-25</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3133THKP19"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-03</maturityDt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-06</maturityDt>
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      <invstOrSec>
        <name>CANADIAN PACIFIC RAILWAY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-15</maturityDt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <title>Government National Mortgage Association</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-16</maturityDt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828ZQ64"/>
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        <balance>6380000.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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      <invstOrSec>
        <name>SSM HEALTH CARE</name>
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        <name>EQUITABLE FINANCIAL LIFE</name>
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        <name>City of Seattle WA Municipal Light &amp; Power Revenue</name>
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        <name>Cascade Funding Mortgage Trust</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>AMGEN INC</name>
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        <title>Amgen Inc</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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        <name>Rhode Island Student Loan Authority</name>
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        <name>Bear Stearns Alt-A Trust</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>Sabey Data Center Issuer LLC</name>
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        <name>United States Treasury</name>
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        <name>Northwestern University</name>
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        <name>Freddie Mac</name>
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        <name>Consumers Energy Co</name>
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        <name>SOUTHERN CAL EDISON</name>
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        <name>International Paper Co</name>
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        <valUSD>3658051.07000000</valUSD>
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          <annualizedRt>8.70000000</annualizedRt>
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        <name>MORGAN STANLEY</name>
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        <name>Pear LLC</name>
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        <name>Government National Mortgage Association</name>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <name>Parking Authority of River City Inc</name>
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        <name>REALTY INCOME CORP</name>
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        <name>Transcanada Trust</name>
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        <title>Transcanada Trust</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CANADIAN PACIFIC RR CO</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-01-15</maturityDt>
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      <invstOrSec>
        <name>TRANSCANADA PIPELINES</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac - SLST</name>
        <lei>N/A</lei>
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        <cusip>35564CAB3</cusip>
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          <isin value="US35564CAB37"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Servpro Master Issuer, LLC</name>
        <lei>N/A</lei>
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          <isin value="US817743AE78"/>
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        <balance>1945000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CoreVest American Finance Ltd</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLI Funding LLC</name>
        <lei>254900Z4P82YK31RVL27</lei>
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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>2047-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31406LMX3</cusip>
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          <isin value="US31406LMX37"/>
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        <balance>29236.41000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Triton Container Finance LLC</name>
        <lei>N/A</lei>
        <title>Triton Container Finance VIII LLC</title>
        <cusip>89680HAE2</cusip>
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          <isin value="US89680HAE27"/>
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        <balance>379583.33000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BMW FINANCE NV</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PRUDENTIAL INSURANCE CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
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        <name>Home Partners of America Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>State Street Institutional US Government Money Market Fund</name>
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        <name>Sequoia Mortgage Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Gold Pool</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2045-06-01</maturityDt>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Non Gold Pool</title>
        <cusip>31326J2M1</cusip>
        <identifiers>
          <isin value="US31326J2M14"/>
        </identifiers>
        <balance>736629.85000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>716265.78000000</valUSD>
        <pctVal>0.062718240615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.70700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Southern Copper Corp</name>
        <lei>2549007U6NAP46Q9TU15</lei>
        <title>Southern Copper Corp</title>
        <cusip>84265VAJ4</cusip>
        <identifiers>
          <isin value="US84265VAJ44"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2017114.00000000</valUSD>
        <pctVal>0.176624159262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIGRE Trust</name>
        <lei>N/A</lei>
        <title>FIGRE Trust 2023-HE1</title>
        <cusip>302455AA8</cusip>
        <identifiers>
          <isin value="US302455AA81"/>
        </identifiers>
        <balance>2423539.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2442232.74000000</valUSD>
        <pctVal>0.213848748472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>31392JGE3</cusip>
        <identifiers>
          <isin value="US31392JGE38"/>
        </identifiers>
        <balance>4212.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4142.74000000</valUSD>
        <pctVal>0.000362749933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ FIN NA</name>
        <lei>549300423Z16BB673J12</lei>
        <title>Mercedes-Benz Finance North America LLC</title>
        <cusip>58769JAM9</cusip>
        <identifiers>
          <isin value="US58769JAM99"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2022826.30000000</valUSD>
        <pctVal>0.177124344271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-02-22</ncom:dateSigned>
      <ncom:nameOfApplicant>COMMERCE FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Bill Schuetter</ncom:signature>
      <ncom:signerName>Bill Schuetter</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
