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      <invstOrSec>
        <name>Capital Automotive Reit</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PACIFIC GAS &amp; ELECTRIC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT CO LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING GROEP NV</name>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HPS CORPORATE LENDING FU</name>
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        <title>HPS Corporate Lending Fund</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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          <isin value="US36179XTD83"/>
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        <balance>1294134.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1302235.30000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <title>Freddie Mac Gold Pool</title>
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          <isin value="US3132FCBQ78"/>
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        <balance>55249.39000000</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>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Asset Backed Securities Corp Home Equity Ln Trst</name>
        <lei>N/A</lei>
        <title>Asset Backed Securities Corp Home Equity Loan Trust Series 2003-HE6</title>
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        <identifiers>
          <isin value="US04541GGM87"/>
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        <curCd>USD</curCd>
        <valUSD>1144937.12000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>OSD CLO 2023-27, Ltd.</name>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Navient Student Loan Trust</name>
        <lei>N/A</lei>
        <title>Navient Student Loan Trust 2018-EA</title>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPLOVIN CORP</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>AppLovin Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SLC Student Loan Trust</name>
        <lei>254900DL8Z901OXFAN76</lei>
        <title>SLC Student Loan Trust 2005-1</title>
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          <isin value="US784420AE13"/>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
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        <curCd>USD</curCd>
        <valUSD>2001420.06000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DNX81</cusip>
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        <balance>2788720.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2598966.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CELANESE US HOLDINGS LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
        <title>Celanese US Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALLY FINANCIAL INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Co</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOV INC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-01</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="US91282CKC46"/>
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        <balance>7000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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          <isin value="US3140XJLR27"/>
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        <balance>6993110.90000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-04-01</maturityDt>
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      <invstOrSec>
        <name>CVS Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CVS Pass-Through Trust</title>
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          <isin value="US126650BY54"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-10</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
        <cusip>36209N4V1</cusip>
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          <isin value="US36209N4V16"/>
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        <balance>78.78000000</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>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810QA9</cusip>
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          <isin value="US912810QA97"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4056551.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>SBA TOWER TRUST</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
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          <isin value="US78403DBD12"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
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          <isin value="US36225BG931"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US78450XAC20"/>
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        <balance>2500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-10-16</maturityDt>
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        <name>ATHENE GLOBAL FUNDING</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
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          <isin value="US04685A2Y60"/>
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        <balance>2635000.00000000</balance>
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        <name>ARES CLO Ltd</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>COREBRIDGE FINANCIAL INC</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial Inc</title>
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        <name>BX Trust</name>
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        <name>FOUNDRY JV HOLDCO LLC</name>
        <lei>21380048QROAMGM6EP30</lei>
        <title>Foundry JV Holdco LLC</title>
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        <balance>2297000.00000000</balance>
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        <valUSD>2376506.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
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          <annualizedRt>6.10000000</annualizedRt>
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      <invstOrSec>
        <name>ANTARES HOLDINGS</name>
        <lei>5493008EAIGV4283RM42</lei>
        <title>Antares Holdings LP</title>
        <cusip>03666HAG6</cusip>
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          <isin value="US03666HAG65"/>
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        <balance>2650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2684857.52000000</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>2029-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AXIS SPECIALTY FINANCE</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HERCULES CAPITAL INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONEOK INC</name>
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        <title>ONEOK Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-06-01</maturityDt>
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      <invstOrSec>
        <name>MetLife Capital Trust IV</name>
        <lei>N/A</lei>
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          <isin value="US591560AA57"/>
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        <balance>1520000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BNP PARIBAS</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>05565AB28</cusip>
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          <isin value="US05565AB286"/>
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        <balance>2775000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-12</maturityDt>
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      <invstOrSec>
        <name>VIVINT SOLAR FINANCING LLC</name>
        <lei>N/A</lei>
        <title>Vivint Solar Financing V LLC</title>
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          <isin value="US92854VAB18"/>
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        <balance>951873.15000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-04-30</maturityDt>
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      <invstOrSec>
        <name>UNITED AIR 2018-1 B PTT</name>
        <lei>N/A</lei>
        <title>United Airlines 2018-1 Class B Pass Through Trust</title>
        <cusip>90932NAA1</cusip>
        <identifiers>
          <isin value="US90932NAA19"/>
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        <balance>214934.26000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212270.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>GLOBAL NET LEASE/GLOBAL</name>
        <lei>N/A</lei>
        <title>Global Net Lease Inc / Global Net Lease Operating Partnership LP</title>
        <cusip>37892AAA8</cusip>
        <identifiers>
          <isin value="US37892AAA88"/>
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        <balance>3580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3418988.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>OVINTIV INC</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv Inc</title>
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          <isin value="US292505AD65"/>
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        <balance>885000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>918471.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICS</title>
        <cusip>3133TLUH9</cusip>
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        <balance>26267.39000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27194.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Buttermilk Park CLO Ltd</name>
        <lei>N/A</lei>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2000844.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
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        <balance>8321.44000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp</title>
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        <balance>675000.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.88000000</annualizedRt>
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        <name>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties</title>
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        <balance>1650000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
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          <maturityDt>2029-08-15</maturityDt>
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        <name>KREF 2021-FL2 Ltd</name>
        <lei>54930083ELM2GCMVTQ91</lei>
        <title>KREF 2021-FL2 Ltd</title>
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        <balance>3500000.00000000</balance>
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        <valUSD>3419362.10000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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        <name>BGME Trust</name>
        <lei>N/A</lei>
        <title>BGME Trust 2021-VR</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>DROP Mortgage Trust 2021-FILE</name>
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      <invstOrSec>
        <name>Mexico Government International Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>College Ave Student Loans</name>
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        <name>Fannie Mae</name>
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        <name>State Street Global Advisors</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bank</name>
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        <name>UNITED AIR 2024-1 AA PTT</name>
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        <name>NATWEST GROUP PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Rad CLO Ltd</name>
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        <invCountry>KY</invCountry>
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        <name>OCCIDENTAL PETROLEUM COR</name>
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        <title>Occidental Petroleum Corp</title>
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        <name>AVOLON HOLDINGS FNDG LTD</name>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>ROYAL BANK OF CANADA</name>
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        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <name>HUNTSMAN INTERNATIONAL L</name>
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        <title>Huntsman International LLC</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
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        <name>MACQUARIE AIRFINANCE HLD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EDISON INTERNATIONAL</name>
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        <name>Petroleos Mexicanos</name>
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        <name>United States Treasury</name>
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        <name>Thrust Engine Leasing</name>
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        <name>Rad CLO 12 Ltd</name>
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        <name>TRITON CONTAINER</name>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>KEMPER CORP</name>
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        <name>WESTERN MIDSTREAM OPERAT</name>
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        <name>CVS HEALTH CORP</name>
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        <name>HCA INC</name>
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        <name>CITIGROUP INC</name>
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        <name>Lex Commercial Loan Master Trust</name>
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        <name>Apidos CLO Ltd</name>
        <lei>25490046M6DC4604K633</lei>
        <title>APIDOS CLO XLVIII Ltd</title>
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        <name>PARAMOUNT GLOBAL</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global</title>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Thrust Engine Leasing</name>
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        <name>BLUE OWL CREDIT INCOME</name>
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        <name>Fannie Mae</name>
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        <name>FIDUS RE LTD</name>
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        <name>DROP Mortgage Trust 2021-FILE</name>
        <lei>N/A</lei>
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        <name>MidOcean Credit CLO</name>
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        <name>SAMMONS FINANCIAL GROUP</name>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae II Pool</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>BLUE OWL FINANCE LLC</name>
        <lei>254900OF2NO2GYFV5T41</lei>
        <title>Blue Owl Finance LLC</title>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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        <name>Fannie Mae</name>
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        <name>Freddie Mac</name>
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        <name>RR Ltd</name>
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        <name>Freddie Mac</name>
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        <name>DOW CHEMICAL CO/THE</name>
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        <name>BMO Mortgage Trust</name>
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        <name>EPR PROPERTIES</name>
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        <name>Oak Hill Credit</name>
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        <name>USF&amp;G CAPITAL I</name>
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        <name>Fannie Mae</name>
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        <name>HPS Loan Management Ltd</name>
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        <name>Chicago Board of Trade</name>
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        <name>GOLDMAN SACHS GROUP INC</name>
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      <invstOrSec>
        <name>Tesla Sustainable Energy Trust</name>
        <lei>N/A</lei>
        <title>Tesla Sustainable Energy Trust 2024-1</title>
        <cusip>88164AAC8</cusip>
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        <balance>4500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SELECTIVE INSURANCE GROU</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>Selective Insurance Group Inc</title>
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          <isin value="US816300AJ62"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-15</maturityDt>
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      <invstOrSec>
        <name>SYNOVUS BANK GA</name>
        <lei>DX0JX77PRMOELF7VG772</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae I Pool</title>
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          <isin value="US36225BPC62"/>
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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>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KREF 2021-FL2 Ltd</name>
        <lei>54930083ELM2GCMVTQ91</lei>
        <title>KREF 2021-FL2 Ltd</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-02-15</maturityDt>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP/GLOBA</name>
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        <name>ENBRIDGE INC</name>
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        <title>Enbridge Inc</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>APOLLO GLOBAL MANAGEMENT</name>
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        <name>HERCULES CAPITAL INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <balance>7744817.44000000</balance>
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        <name>BLACKSTONE SECURED LEND</name>
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        <title>Blackstone Secured Lending Fund</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BGME Trust</name>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust 2014-3</title>
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        <name>NEWS CORP</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>News Corp</title>
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        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418EYM6</cusip>
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        <balance>4355670.05000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA Inc</title>
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        <valUSD>1503529.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
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        <name>HERO Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ORACLE CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITEDHEALTH GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OVINTIV INC</name>
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        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK OF NOVA SCOTIA</name>
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        <name>HSBC HOLDINGS PLC</name>
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        <name>Labrador Aviation Finance Limited</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae I Pool</title>
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        <name>LAD Auto Receivables Trust</name>
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        <name>ENSTAR FINANCE LLC</name>
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        <name>ASCOT GROUP LTD</name>
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        <title>Ascot Group Ltd</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SLM Student Loan Trust</name>
        <lei>549300FBYELJTA2VHZ52</lei>
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          <isin value="US78442GQT66"/>
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        <balance>723269.42000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-01-25</maturityDt>
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      <invstOrSec>
        <name>Apidos CLO Ltd</name>
        <lei>549300CXPXW83QGWOL98</lei>
        <title>Apidos CLO XXXII</title>
        <cusip>03768RAU0</cusip>
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          <isin value="US03768RAU05"/>
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        <balance>1750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1747655.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-20</maturityDt>
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      <invstOrSec>
        <name>HERO Funding Trust</name>
        <lei>N/A</lei>
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          <isin value="US40417QAA31"/>
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        <balance>285226.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262315.13000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CVS Health Corp</name>
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        <title>CVS Health Corp</title>
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          <isin value="US126650CZ11"/>
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        <balance>1650000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140QDX25</cusip>
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          <isin value="US3140QDX255"/>
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        <balance>5682400.13000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>ASPEN INSURANCE HLDG LTD</name>
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        <title>Aspen Insurance Holdings Ltd</title>
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          <isin value="US04530DAE22"/>
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        <balance>628000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>36179VDN7</cusip>
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          <isin value="US36179VDN73"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mosaic Solar Loans LLC</name>
        <lei>549300ZLA8SW2SVJMN33</lei>
        <title>Mosaic Solar Loans 2017-1 LLC</title>
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        <curCd>USD</curCd>
        <valUSD>89221.24000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>PARAMOUNT GLOBAL</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global</title>
        <cusip>925524AX8</cusip>
        <identifiers>
          <isin value="US925524AX89"/>
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        <balance>1760000.00000000</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>2036-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
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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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        <balance>25650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16074855.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-15</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
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        <title>Avolon Holdings Funding Ltd</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
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        <balance>4218735.62000000</balance>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HERO Funding Trust</name>
        <lei>549300Z5C0ID42MSJA91</lei>
        <title>Hero Funding 2017-3</title>
        <cusip>42771AAA4</cusip>
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          <isin value="US42771AAA43"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-20</maturityDt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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          <isin value="US36179XVS25"/>
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        <balance>3453245.11000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Marble Point CLO XIX Ltd</name>
        <lei>N/A</lei>
        <title>Marble Point CLO XIX Ltd</title>
        <cusip>56607KAL8</cusip>
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          <isin value="US56607KAL89"/>
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        <balance>2250000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-19</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>ENTERPRISE PRODUCTS OPER</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
        <cusip>29379VBN2</cusip>
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        <balance>2000000.00000000</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>2077-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Banc of America Mortgage Securities</name>
        <lei>N/A</lei>
        <title>Banc of America Mortgage 2004-G Trust</title>
        <cusip>05949ALH1</cusip>
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          <isin value="US05949ALH13"/>
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        <balance>13245.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13177.94000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.54000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>VITALITY RE XV LTD</name>
        <lei>N/A</lei>
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        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EDUCATION LOAN ASSET-BACKED TRUST</name>
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        <name>UNLOCK HEA TRUST</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>GOLUB CAPITAL BDC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>(Sunnova) Aurora I Issuer, LLC</name>
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        <name>KREF 2021-FL2 Ltd</name>
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        <title>KREF 2021-FL2 Ltd</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Fixed Income Clearing Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DANSKE BANK A/S</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>Fannie Mae</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae I Pool</title>
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        <name>FORTITUDE GROUP HOLDINGS</name>
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        <name>JH NORTH AMERICA HOLDING</name>
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        <name>HSBC HOLDINGS PLC</name>
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        <title>HSBC Holdings PLC</title>
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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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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>CIFC Funding Ltd</name>
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        <name>CITADEL SECURITIES GLOBA</name>
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        <name>Government National Mortgage Association</name>
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        <name>Ellington Financial Mortgage Trust</name>
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        <name>Government National Mortgage Association</name>
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        <name>Mosaic Solar Loans LLC</name>
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        <name>Freddie Mac</name>
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        <name>CHARTER COMM OPT LLC/CAP</name>
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        <name>HERO Funding Trust</name>
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        <name>Bain Capital Credit CLO, Limited</name>
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        <name>Wells Fargo Mortgage Backed Securities Trust</name>
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        <name>Fannie Mae</name>
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        <name>ENERGY TRANSFER LP</name>
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        <name>Parallel Ltd</name>
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        <name>Freddie Mac</name>
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        <name>HELMERICH &amp; PAYNE INC</name>
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        <name>U.S. Bank National Association</name>
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        <name>Benefit Street Partners CLO Ltd</name>
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        <name>ASCOT GROUP LTD</name>
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        <name>EDUCATION LOAN ASSET-BACKED TRUST</name>
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        <name>EXPEDIA GROUP INC</name>
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        <name>BP CAPITAL MARKETS PLC</name>
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        <name>BENCHMARK Mortgage Trust</name>
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        <name>FORD MOTOR CREDIT CO LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC</title>
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        <name>SAMMONS FINANCIAL GROUP</name>
        <lei>254900SHCOQLVJ21CT59</lei>
        <title>Sammons Financial Group Inc</title>
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        <name>Structured Asset Securities Corporation</name>
        <lei>N/A</lei>
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        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
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        <name>Fannie Mae</name>
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        <name>Sunnova Hestia II Issuer, LLC</name>
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        <name>Ellington Financial Mortgage Trust</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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          <isin value="US3140QKN871"/>
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        <name>Government National Mortgage Association</name>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Chicago Board of Trade</name>
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        <name>WPP CP LLC</name>
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        <name>CHARLES SCHWAB CORP</name>
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        <name>Orion CLO Ltd.</name>
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        <name>SEMPRA</name>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <name>BPCE SA</name>
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        <title>BPCE SA</title>
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        <name>Sierra Receivables Funding Co LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-20</maturityDt>
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      <invstOrSec>
        <name>Flatiron CLO Ltd</name>
        <lei>25490077CXFU133A8B24</lei>
        <title>Flatiron CLO 20 Ltd</title>
        <cusip>33883MAL8</cusip>
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          <isin value="US33883MAL81"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500516.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-20</maturityDt>
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      <invstOrSec>
        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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          <isin value="US539439AU36"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>CENTENE CORP</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp</title>
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          <isin value="US15135BAW19"/>
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        <balance>2445000.00000000</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>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>MACQUARIE AIRFINANCE HLD</name>
        <lei>549300MCGUSL5B852H65</lei>
        <title>Macquarie Airfinance Holdings Ltd</title>
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          <isin value="US55609NAF50"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1011143.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
        <cusip>36212BK36</cusip>
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          <isin value="US36212BK360"/>
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        <balance>680.71000000</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>2030-04-15</maturityDt>
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      <invstOrSec>
        <name>HERO Funding Trust</name>
        <lei>N/A</lei>
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        <cusip>42772GAB8</cusip>
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          <isin value="US42772GAB86"/>
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        <balance>538916.88000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.67000000</annualizedRt>
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      <invstOrSec>
        <name>GLOBAL ATLANTIC FIN CO</name>
        <lei>98450051B2E65CAA7E94</lei>
        <title>Global Atlantic Fin Co</title>
        <cusip>37959GAG2</cusip>
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          <isin value="US37959GAG29"/>
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        <balance>596000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-15</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="US91282CMS79"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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      <invstOrSec>
        <name>SLM Student Loan Trust</name>
        <lei>549300LSGT1L2CL14698</lei>
        <title>SLM Student Loan Trust 2006-5</title>
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          <isin value="US83149EAG26"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-25</maturityDt>
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      <invstOrSec>
        <name>COLEM 2021-HLNE Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COLEM 2022-HLNE Mortgage Trust</title>
        <cusip>12659JAJ6</cusip>
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          <isin value="US12659JAJ60"/>
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        <balance>1400000.00000000</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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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Whitebox CLO Ltd</name>
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        <title>Whitebox CLO III Ltd</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>BROOKFIELD FINANCE INC</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLSTATE CORP</name>
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        <title>Allstate Corp/The</title>
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        <name>CONTINENTAL RESOURCES</name>
        <lei>XXRTID9RYWOZ0UPIVR53</lei>
        <title>Continental Resources Inc/OK</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T INC</name>
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        <title>AT&amp;T Inc</title>
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        <name>AERCAP IRELAND CAP/GLOBA</name>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
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          <isin value="US36212EGF88"/>
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        <balance>124.02000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BGC GROUP INC</name>
        <lei>2549001IGRCG4F0RLD36</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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          <isin value="US3140QPHU45"/>
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        <balance>9062623.30000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-01</maturityDt>
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      <invstOrSec>
        <name>MICROSOFT CORP</name>
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        <title>Microsoft Corp</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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          <isin value="US36179X5G75"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-20</maturityDt>
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        <name>CNO FINANCIAL GROUP INC</name>
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        <title>CNO Financial Group Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <curCd>USD</curCd>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
        <cusip>36179YRH9</cusip>
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          <isin value="US36179YRH98"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-20</maturityDt>
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      <invstOrSec>
        <name>ARES STRATEGIC INCOME FU</name>
        <lei>549300IANZJVZPTICV54</lei>
        <title>Ares Strategic Income Fund</title>
        <cusip>04020EAB3</cusip>
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          <isin value="US04020EAB39"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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        <name>SERVICE PROPERTIES TRUST</name>
        <lei>529900IS770AG1K9QG27</lei>
        <title>Service Properties Trust</title>
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          <isin value="US44106MBB72"/>
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        <issuerConditional desc="REIT" issuerCat="OTHER"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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      <invstOrSec>
        <name>MidOcean Credit CLO</name>
        <lei>254900KJWLNM7MIXEC65</lei>
        <title>MidOcean Credit CLO XIV Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NORDEA BANK ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CENTERPOINT ENERGY RESOU</name>
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        <title>CenterPoint Energy Resources Corp</title>
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        <name>ARES FINANCE CO</name>
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        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2021-B23 Mortgage Trust</title>
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        <name>OVINTIV INC</name>
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        <title>Ovintiv Inc</title>
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        <name>Flagstar Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Flagstar Mortgage Trust 2021-6INV</title>
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      <invstOrSec>
        <name>Mosaic Solar Loans LLC</name>
        <lei>N/A</lei>
        <title>Mosaic Solar Loan Trust 2018-1</title>
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        <balance>106535.44000000</balance>
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        <name>Ballyrock Ltd</name>
        <lei>254900KWGJ97WUSMSQ74</lei>
        <title>Ballyrock CLO 26 Ltd</title>
        <cusip>05876NAA7</cusip>
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        <balance>1700000.00000000</balance>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTEL CORP</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-21</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>BOEING CO</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-05-01</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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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>31418ELY4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Rad CLO Ltd</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-20</maturityDt>
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        <name>GLOBAL ATLANTIC FIN CO</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140QNU75</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEWS CORP</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>News Corp</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MACQUARIE BANK LTD</name>
        <lei>4ZHCHI4KYZG2WVRT8631</lei>
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        <valUSD>2572896.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WOODSIDE FINANCE LTD</name>
        <lei>254900AIZKU6TGRRNZ98</lei>
        <title>Woodside Finance Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EXPAND ENERGY CORP</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Securitized Term Auto Receivables Trust</name>
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        <title>Securitized Term Auto Receivables Trust</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <name>OCCIDENTAL PETROLEUM COR</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp</title>
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        <name>BROADSTONE NET LEASE LLC</name>
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        <title>Broadstone Net Lease LLC</title>
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        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Life Financial Services Trust</name>
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        <title>Life 2021-BMR Mortgage Trust</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Freddie Mac</name>
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      <invstOrSec>
        <name>PIEDMONT OPERATING PARTN</name>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>FAIRFAX FINL HLDGS LTD</name>
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        <name>Freddie Mac</name>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae II Pool</title>
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        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <name>ARES CAPITAL CORP</name>
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        <name>Chicago Board of Trade</name>
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        <name>BLUE OWL TECHNOLOGY FIN</name>
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        <title>Blue Owl Technology Finance Corp II</title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool</title>
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        <name>Nelnet Student Loan Trust</name>
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        <name>GoldenTree Loan Management US CLO, LTD</name>
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        <title>Goldentree Loan Management US Clo 8 Ltd</title>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <name>IMPERIAL BRANDS FIN PLC</name>
        <lei>2138008L3B3MCG1DFS50</lei>
        <title>Imperial Brands Finance PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae I Pool</title>
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          <isin value="US36211TXE09"/>
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        <balance>1733.48000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1761.29000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PATTERSON-UTI ENERGY INC</name>
        <lei>254900XGFBKIXD6G0697</lei>
        <title>Patterson-UTI Energy Inc</title>
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          <isin value="US703481AD36"/>
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        <balance>1825000.00000000</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>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851BM0</cusip>
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          <isin value="US816851BM02"/>
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        <balance>2163000.00000000</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>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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          <isin value="US06738EBX22"/>
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        <balance>2648000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>5493000EBJ0T2MCM3713</lei>
        <title>Nelnet Student Loan Trust 2015-2</title>
        <cusip>64033QAC3</cusip>
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          <isin value="US64033QAC33"/>
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        <balance>1130000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-26</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>College Ave Student Loans</name>
        <lei>N/A</lei>
        <title>College Ave Student Loans 2019-A LLC</title>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-12-28</maturityDt>
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      <invstOrSec>
        <name>STORE CAPITAL LLC</name>
        <lei>254900Z9PIEFQ6AYXK50</lei>
        <title>Store Capital LLC</title>
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        <balance>3940000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738EBN4</cusip>
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          <isin value="US06738EBN40"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1500571.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.13000000</annualizedRt>
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      <invstOrSec>
        <name>SANTOS FINANCE LTD</name>
        <lei>213800BKUBSWG53XNS94</lei>
        <title>Santos Finance Ltd</title>
        <cusip>803014AB5</cusip>
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          <isin value="US803014AB57"/>
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        <curCd>USD</curCd>
        <valUSD>1992677.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust 2019-GC41</title>
        <cusip>17328FBA2</cusip>
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          <isin value="US17328FBA21"/>
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        <balance>1259000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Harbor Park CLO Ltd</name>
        <lei>N/A</lei>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140W0C94</cusip>
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          <isin value="US3140W0C947"/>
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        <balance>9880951.20000000</balance>
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          <maturityDt>2054-12-01</maturityDt>
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        <name>MFT Trust</name>
        <lei>N/A</lei>
        <title>MFT Trust 2020-ABC</title>
        <cusip>55317BAE7</cusip>
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        <balance>1278000.00000000</balance>
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        <name>EDUCATION LOAN ASSET-BACKED TRUST</name>
        <lei>5493000CKEJUMJ3IL355</lei>
        <title>Education Loan Asset-Backed Trust I</title>
        <cusip>281397AB5</cusip>
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          <isin value="US281397AB53"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-01</maturityDt>
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        <name>HERO Funding Trust</name>
        <lei>N/A</lei>
        <title>HERO Funding Trust 2017-2</title>
        <cusip>42771LAB8</cusip>
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        <balance>92524.48000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-20</maturityDt>
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      <invstOrSec>
        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance Issuance Trust 2021-A</title>
        <cusip>56848DAB5</cusip>
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        <balance>1771000.00000000</balance>
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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>2036-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LIBERTY MUTUAL GROUP INC</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>Liberty Mutual Group Inc</title>
        <cusip>53079EBM5</cusip>
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          <isin value="US53079EBM57"/>
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        <name>PLAINS ALL AMERICAN PIPE</name>
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        <name>Freddie Mac</name>
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        <name>ING GROEP NV</name>
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        <name>Government National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>ATHENE HOLDING LTD</name>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae II Pool</title>
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        <name>HUMANA INC</name>
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        <name>TORONTO-DOMINION BANK</name>
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        <pctVal>0.345162723782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2082-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.13000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-07-28</ncom:dateSigned>
      <ncom:nameOfApplicant>MASSMUTUAL PREMIER FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Renee Hitchcock</ncom:signature>
      <ncom:signerName>Renee Hitchcock</ncom:signerName>
      <ncom:title>CFO and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
