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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WLAKE 2018-3A E 4.9% 12/15/23</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <valUSD>80762.47000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <debtSec>
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        <name>WILLIS NORTH AM 2.95% 09/15/29</name>
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        <title>WILLIS NORTH AMERICA INC REGD 2.95000000</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>CSMC 2013-TH1 A1 V/R 08/25/34</name>
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        <cusip>22944PAA5</cusip>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>FREMF 2014-KS02  V/R 08/25/23</name>
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        <name>CARDINAL HEALT 3.079% 06/15/24</name>
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        <name>PROG 2017-SFR 4.261% 08/17/22</name>
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        <name>CAS 2018-C05 1M1 V/R 01/25/31</name>
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        <name>GENERAL ELECTRIC 5.3% 02/11/21</name>
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        <name>COMM 2013-LC6 2.941% 12/10/22</name>
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        <name>CAS 2016-C05 2M2 V/R 01/25/29</name>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA P#552615 6.5% 06/15/32</name>
        <lei>N/A</lei>
        <title>GINNIE MAE I POOL P#552615 6.50000000</title>
        <cusip>36213E3Y0</cusip>
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          <isin value="US36213E3Y07"/>
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        <curCd>USD</curCd>
        <valUSD>2517.74000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENERGY TRANSFER  5.5% 06/01/27</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>ENERGY TRANSFER OPERATNG REGD 5.50000000</title>
        <cusip>29278NAN3</cusip>
        <identifiers>
          <isin value="US29278NAN30"/>
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        <balance>43000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48645.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AFRICAN EXPORT 3.994% 09/21/29</name>
        <lei>21380068LJCDYA42GJ76</lei>
        <title>AFRICAN EXPORT-IMPORT BA REGD 144A P/P MTN 3.99400000</title>
        <cusip>00831TAA9</cusip>
        <identifiers>
          <isin value="US00831TAA97"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>200000.00000000</valUSD>
        <pctVal>0.104844361694</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.99400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>T/L CONSTELLIS GR 0% 04/21/24</name>
        <lei>N/A</lei>
        <title>T/L CONSTELLIS GROUP INC REGD 0.00000000</title>
        <cusip>21038KAE7</cusip>
        <identifiers>
          <isin value="US21038KAE73"/>
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        <balance>118186.38000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70911.83000000</valUSD>
        <pctVal>0.037173527764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROADCOM INC 3.625% 10/15/24</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC REGD 144A P/P 3.62500000</title>
        <cusip>11135FAD3</cusip>
        <identifiers>
          <isin value="US11135FAD33"/>
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        <balance>149000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>151494.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNO FINANCIAL G 5.25% 05/30/25</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO FINANCIAL GROUP INC REGD 5.25000000</title>
        <cusip>12621EAK9</cusip>
        <identifiers>
          <isin value="US12621EAK91"/>
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        <balance>32000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34393.60000000</valUSD>
        <pctVal>0.018029875191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMCC 2012-LC9 2.84% 11/15/22</name>
        <lei>N/A</lei>
        <title>JP MORGAN CHASE COMMERCIAL____  MORTGAGE SECURITIES CORP SER 2012-LC9 CL A5 REGD 2.84000000</title>
        <cusip>46639EAE1</cusip>
        <identifiers>
          <isin value="US46639EAE14"/>
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        <balance>450000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>458142.89000000</valUSD>
        <pctVal>0.240168494333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.84000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEVA PHARMACEUT 3.15% 10/01/26</name>
        <lei>N/A</lei>
        <title>TEVA PHARMACEUTICALS NE REGD 3.15000000</title>
        <cusip>88167AAE1</cusip>
        <identifiers>
          <isin value="US88167AAE10"/>
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        <balance>213000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149078.70000000</valUSD>
        <pctVal>0.078150305718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOOKING HOLDING 3.55% 03/15/28</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>BOOKING HOLDINGS INC REGD 3.55000000</title>
        <cusip>741503BC9</cusip>
        <identifiers>
          <isin value="US741503BC97"/>
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        <balance>260000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>278706.45000000</valUSD>
        <pctVal>0.146103999251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FGLMC P#G60045 5.5% 06/01/41</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC GOLD POOL P#G60045 5.50000000</title>
        <cusip>31335ABN7</cusip>
        <identifiers>
          <isin value="US31335ABN72"/>
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        <balance>13570.97000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15330.18000000</valUSD>
        <pctVal>0.008036414683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UMBS P#AS0331 3% 08/01/43</name>
        <lei>N/A</lei>
        <title>FANNIE MAE POOL UMBS P#AS0331 3.00000000</title>
        <cusip>3138W9LM0</cusip>
        <identifiers>
          <isin value="US3138W9LM06"/>
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        <balance>35834.29000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36900.97000000</valUSD>
        <pctVal>0.019344293227</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CFCRE 2016-C3 3.597% 11/10/25</name>
        <lei>N/A</lei>
        <title>CFCRE COMMERCIAL MORTGAGE TRUST 2016-C3 SER 2016-C3 CL A2 REGD 3.59700000</title>
        <cusip>12531WBA9</cusip>
        <identifiers>
          <isin value="US12531WBA99"/>
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        <balance>140000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149543.02000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.59700000</annualizedRt>
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      <invstOrSec>
        <name>MEDTRONIC INC 3.15% 03/15/22</name>
        <lei>N/A</lei>
        <title>MEDTRONIC INC REGD SER WI 3.15000000</title>
        <cusip>585055BR6</cusip>
        <identifiers>
          <isin value="US585055BR69"/>
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        <balance>138000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>142246.68000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>UNITED MEXICAN S 4.6% 02/10/48</name>
        <lei>N/A</lei>
        <title>UNITED MEXICAN STATES REGD 4.60000000</title>
        <cusip>91087BAD2</cusip>
        <identifiers>
          <isin value="US91087BAD29"/>
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        <balance>475000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>507661.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LEVEL 3 FINANC 5.375% 01/15/24</name>
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        <cusip>527298BK8</cusip>
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          <isin value="US527298BK81"/>
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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>MASSMUTUAL GLOB 2.75% 06/22/24</name>
        <lei>N/A</lei>
        <title>MASSMUTUAL GLOBAL FUNDIN REGD 144A P/P 2.75000000</title>
        <cusip>57629WCE8</cusip>
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          <isin value="US57629WCE84"/>
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        <curCd>USD</curCd>
        <valUSD>511617.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>IHSFR 2018-SFR1  V/R 03/17/20</name>
        <lei>N/A</lei>
        <title>INVITATION HOMES 2018-SFR1 TRUST SER 2018-SFR1 CL C V/R REGD 144A P/P 3.27475000</title>
        <cusip>46185JAE8</cusip>
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          <isin value="US46185JAE82"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99744.38000000</valUSD>
        <pctVal>0.052288179268</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-17</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>COMM 2013-CR11 C V/R 09/10/23</name>
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        <name>FHR 2944 OH 5.5% 03/15/35</name>
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      <invstOrSec>
        <name>PENSKE TRUCK LEA 2.7% 03/14/23</name>
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        <curCd>USD</curCd>
        <valUSD>222742.59000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FASST 2019-HB1 M V/R 10/25/21</name>
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        <title>FINANCE OF AMERICA STRUCTURED SECURITIES TRUS SER 2019-HB1 CL M2 V/R REGD 144A P/P 3.67570000</title>
        <cusip>31739HAC9</cusip>
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        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
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      <invstOrSec>
        <name>NEWFIELD EXPLO 5.625% 07/01/24</name>
        <lei>T8W3X1PFLPW2YE0UIP44</lei>
        <title>NEWFIELD EXPLORATION CO REGD 5.62500000</title>
        <cusip>651290AQ1</cusip>
        <identifiers>
          <isin value="US651290AQ17"/>
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        <curCd>USD</curCd>
        <valUSD>159955.14000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>T/L AMERICAN AXLE &amp; 0% 04/06/24</name>
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        <cusip>N/A</cusip>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WFCM 2015-NXS 3.617% 09/15/25</name>
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        <title>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2015-NXS3 SER 2015-NXS3 CL A4 REGD 3.61700000</title>
        <cusip>94989VAD1</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SEMT 2013-10 A1 V/R 08/25/43</name>
        <lei>N/A</lei>
        <title>SEQUOIA MORTGAGE TRUST 2013-10 SER 2013-10 CL A1 V/R REGD 144A P/P 3.50000000</title>
        <cusip>81745GAA2</cusip>
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          <isin value="US81745GAA22"/>
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        <balance>556074.94000000</balance>
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        <curCd>USD</curCd>
        <valUSD>563596.52000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>UMBS P#BC0960 4% 06/01/46</name>
        <lei>N/A</lei>
        <title>FANNIE MAE POOL UMBS P#BC0960 4.00000000</title>
        <cusip>3140EVB63</cusip>
        <identifiers>
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        <valUSD>129491.44000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>TAH 2019-SFR1  2.75% 03/17/26</name>
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        <title>TRICON AMERICAN HOMES 2019-SFR1 TRUST SER 2019-SFR1 CL A REGD 144A P/P 2.75000000</title>
        <cusip>89612LAA4</cusip>
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          <isin value="US89612LAA44"/>
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      <invstOrSec>
        <name>UNION PACIFIC  3.375% 02/01/35</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP REGD 3.37500000</title>
        <cusip>907818EB0</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHR 4091 SH V/R 08/15/42</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC REMICS SER 4091 CL SH V/R 4.52250000</title>
        <cusip>3137ATFZ0</cusip>
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          <isin value="US3137ATFZ09"/>
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      <invstOrSec>
        <name>T/L VISTRA OPERAT 0% 08/04/23</name>
        <lei>N/A</lei>
        <title>T/L VISTRA OPERATION COMPANY  LLC REGD 0.00000000</title>
        <cusip>87239PAD6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FISERV INC 3.8% 10/01/23</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC REGD 3.80000000</title>
        <cusip>337738AQ1</cusip>
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          <isin value="US337738AQ13"/>
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          <couponKind>Fixed</couponKind>
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        <name>BACARDI LTD 5.3% 05/15/48</name>
        <lei>549300R32WTQNHNN5055</lei>
        <title>BACARDI LTD REGD 144A P/P 5.30000000</title>
        <cusip>067316AH2</cusip>
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          <isin value="US067316AH25"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-15</maturityDt>
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        <name>UMBS P#AK0746 4% 02/01/42</name>
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          <maturityDt>2042-02-01</maturityDt>
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        <name>SOUTHWESTERN ELE 3.9% 04/01/45</name>
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        <name>FREEPORT-MCMORA 5.45% 03/15/43</name>
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        <name>SCFET 2019-1A  3.92% 11/20/26</name>
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        <name>HIGHWOODS REALTY 3.2% 06/15/21</name>
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          <isin value="US431282AN25"/>
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      <invstOrSec>
        <name>UMBS P#SD8003 4% 07/01/49</name>
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      <invstOrSec>
        <name>CGCMT 2015-GC33  V/R 09/10/25</name>
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        <name>UMBS P#253886 6.5% 07/01/21</name>
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        <name>CGCMT 2014-GC19  V/R 02/10/24</name>
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        <title>CITIGROUP COMMERCIAL MORTGAGE TRUST 2014-GC19 SER 2014-GC19 CL B V/R REGD 4.80500000</title>
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        <name>T/L AXALTA COAT 0% 6/1/24</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAS 2019-R03 1M2 V/R 09/25/31</name>
        <lei>N/A</lei>
        <title>CONNECTICUT AVENUE SECURITIES TRUST 2019-R03 SER 2019-R03 CL 1M2 V/R REGD 144A P/P 4.16838000</title>
        <cusip>20753MAF5</cusip>
        <identifiers>
          <isin value="US20753MAF59"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>150716.37000000</valUSD>
        <pctVal>0.079008808047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.16838000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Pioneer Variable Contracts Trust /MA/</ncom:nameOfApplicant>
      <ncom:signature>Mark E. Bradley </ncom:signature>
      <ncom:signerName>Mark E. Bradley </ncom:signerName>
      <ncom:title>Treasurer and Chief Accounting and Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
