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      <invstOrSec>
        <name>Benin Government International Bond</name>
        <lei>635400Q11P6AE5A5Y230</lei>
        <title>Benin Government Bond</title>
        <cusip>08205QAA6</cusip>
        <identifiers>
          <isin value="US08205QAA67"/>
          <other otherDesc="Inhouse Asset ID" value="1347677"/>
        </identifiers>
        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>412053.45000000</valUSD>
        <pctVal>0.113514838254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BJ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.96000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H19, Class MI</title>
        <cusip>38375UK25</cusip>
        <identifiers>
          <isin value="US38375UK256"/>
          <other otherDesc="Inhouse Asset ID" value="1295618"/>
        </identifiers>
        <balance>1591716.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61585.09000000</valUSD>
        <pctVal>0.016965812397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-04-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.07555840</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>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-5C31, Class XA</title>
        <cusip>07336YAG0</cusip>
        <identifiers>
          <isin value="US07336YAG08"/>
          <other otherDesc="Inhouse Asset ID" value="1426218"/>
        </identifiers>
        <balance>4847391.11000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197231.62000000</valUSD>
        <pctVal>0.054334493360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.06126200</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>Constellium SE</name>
        <lei>724500KRJEMC79KAAU28</lei>
        <title>Constellium SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2335148024"/>
          <other otherDesc="Inhouse Asset ID" value="1198017"/>
        </identifiers>
        <balance>650000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
        <valUSD>729014.81000000</valUSD>
        <pctVal>0.200833164344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2021-59, Class IP</title>
        <cusip>38382RRP5</cusip>
        <identifiers>
          <isin value="US38382RRP54"/>
          <other otherDesc="Inhouse Asset ID" value="1295481"/>
        </identifiers>
        <balance>6475632.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1113887.72000000</valUSD>
        <pctVal>0.306860152171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2013-CR13, Class D</title>
        <cusip>12630BAE8</cusip>
        <identifiers>
          <isin value="US12630BAE83"/>
          <other otherDesc="Inhouse Asset ID" value="1292258"/>
        </identifiers>
        <balance>1233000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>718210.17000000</valUSD>
        <pctVal>0.197856640395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.94432280</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>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMBB Commercial Mortgage Securities Trust, Series 2013-C14, Class D</title>
        <cusip>46640LAN2</cusip>
        <identifiers>
          <isin value="US46640LAN29"/>
          <other otherDesc="Inhouse Asset ID" value="1292247"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387244.50000000</valUSD>
        <pctVal>0.106680326987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.03768080</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>Itron, Inc.</name>
        <lei>24F6LSZD18II6ICG6S41</lei>
        <title>Itron, Inc.</title>
        <cusip>465741AQ9</cusip>
        <identifiers>
          <isin value="US465741AQ90"/>
          <other otherDesc="Inhouse Asset ID" value="1367237"/>
        </identifiers>
        <balance>203000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234129.22000000</valUSD>
        <pctVal>0.064499254984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Itron, Inc.</name>
              <title>Itron, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="465741106"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="7.61990100" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>549300BL200YC56BUV20</lei>
        <title>FHLMC STACR Trust, Series 2018-DNA3, Class B2</title>
        <cusip>35563WBE3</cusip>
        <identifiers>
          <isin value="US35563WBE30"/>
          <other otherDesc="Inhouse Asset ID" value="1207931"/>
        </identifiers>
        <balance>389000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452749.75000000</valUSD>
        <pctVal>0.124726087455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.21449040</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>Wolfspeed, Inc.</name>
        <lei>549300OGU88P3AW3TO93</lei>
        <title>Wolfspeed, Inc.</title>
        <cusip>977852AD4</cusip>
        <identifiers>
          <isin value="US977852AD45"/>
          <other otherDesc="Inhouse Asset ID" value="1314774"/>
        </identifiers>
        <balance>182000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56875.00000000</valUSD>
        <pctVal>0.015668249897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Wolfspeed, Inc.</name>
              <title>Wolfspeed, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="977852102"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="8.41180100" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1396356"/>
        </identifiers>
        <balance>4626600.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.55605695"/>
        <valUSD>547120.51000000</valUSD>
        <pctVal>0.150723883511</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>UBS</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>2.00000000</exercisePrice>
            <exercisePriceCurCd>AUD</exercisePriceCurCd>
            <expDt>2036-09-10</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>301720.71000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Workiva, Inc.</name>
        <lei>529900RTOQ8GRWHY1O58</lei>
        <title>Workiva, Inc.</title>
        <cusip>98139AAD7</cusip>
        <identifiers>
          <isin value="US98139AAD72"/>
          <other otherDesc="Inhouse Asset ID" value="1286742"/>
        </identifiers>
        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78136.25000000</valUSD>
        <pctVal>0.021525420502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Workiva, Inc.</name>
              <title>Workiva, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="98139A105"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="7.46900200" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1396383"/>
        </identifiers>
        <balance>4317900.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.55605695"/>
        <valUSD>29773.96000000</valUSD>
        <pctVal>0.008202300584</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>JP MORGAN CHASE BANK NA</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1.44500000</exercisePrice>
            <exercisePriceCurCd>AUD</exercisePriceCurCd>
            <expDt>2030-03-27</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-135349.44000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Beach Acquisition Bidco LLC</name>
        <lei>254900F2FNX3GBTB6202</lei>
        <title>Beach Acquisition Bidco LLC</title>
        <cusip>07337JAE7</cusip>
        <identifiers>
          <isin value="XS3109433477"/>
          <other otherDesc="Inhouse Asset ID" value="1491150"/>
        </identifiers>
        <balance>225000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
        <valUSD>261513.42000000</valUSD>
        <pctVal>0.072043210832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1480093"/>
        </identifiers>
        <balance>2170500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46550.81000000</valUSD>
        <pctVal>0.012824083059</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>CITIBANK NA</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="22573"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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            <amtCurSold>1591100.00000000</amtCurSold>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>GOLDMAN SACHS INTL</counterpartyName>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BBB-16</indexName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>Serbia International Bond</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Serbia Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="XS2580270275"/>
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        <balance>830000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>RS</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Matador Resources Co.</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co.</title>
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          <isin value="US576485AF30"/>
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        <balance>731000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>5493000ISUYHCRLRBE46</lei>
        <title>FHLMC STACR REMIC Trust, Series 2021-DNA3, Class B2</title>
        <cusip>35564KFH7</cusip>
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          <isin value="US35564KFH77"/>
          <other otherDesc="Inhouse Asset ID" value="1313412"/>
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        <balance>299000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>370757.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-25</maturityDt>
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          <annualizedRt>10.60000920</annualizedRt>
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      <invstOrSec>
        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AH0</cusip>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2015-LC19, Class B</title>
        <cusip>200474BF0</cusip>
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          <isin value="US200474BF05"/>
          <other otherDesc="Inhouse Asset ID" value="1292372"/>
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        <balance>621000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>613303.39000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Great Canadian Gaming Corp.</name>
        <lei>N/A</lei>
        <title>Great Canadian Gaming Corp., First Lien, CME Term Loan, B</title>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300ZJL46M82UL2Z22</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class B</title>
        <cusip>94989QBA7</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-15</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2018-20, Class SB</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FHLMC</name>
        <lei>5493000ITBJ4KEFYWF83</lei>
        <title>FHLMC STACR REMIC Trust, Series 2020-HQA2, Class B2</title>
        <cusip>35565LBE5</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>McGraw-Hill Education, Inc.</name>
        <lei>254900U6YJ9QZ4IQOR26</lei>
        <title>McGraw-Hill Education, Inc.</title>
        <cusip>58064LAA2</cusip>
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        <balance>339000.00000000</balance>
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        <valUSD>352675.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dresdner Funding Trust I</name>
        <lei>549300ZEO4BKB37E3J03</lei>
        <title>Dresdner Funding Trust I</title>
        <cusip>26156FAA1</cusip>
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          <isin value="US26156FAA12"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AeroVironment, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Peru</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hunter Douglas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <name>GNMA</name>
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        <name>GNMA</name>
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        <name>MFA Trust</name>
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        <name>United Mexican States</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Integer Holdings Corp.</name>
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        <name>JH North America Holdings, Inc.</name>
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        <name>N/A</name>
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        <name>Lumentum Holdings, Inc.</name>
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              <title>Lumentum Holdings, Inc.</title>
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        <name>Buffalo Energy Mexico Holdings / Buffalo Energy Infrastructure / Buffalo Energy</name>
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        <balance>2435000.00000000</balance>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>COMM 2013-CCRE12 Mortgage Trust</name>
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        <name>BANK5</name>
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        <name>Petroleos Mexicanos</name>
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        <title>Petroleos Mexicanos</title>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>Republic of Iraq</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA Connecticut Avenue Securities Trust, Series 2016-C06, Class 1B</title>
        <cusip>30711XDY7</cusip>
        <identifiers>
          <isin value="US30711XDY76"/>
          <other otherDesc="Inhouse Asset ID" value="1208373"/>
        </identifiers>
        <balance>393950.19000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>425998.90000000</valUSD>
        <pctVal>0.117356610483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>13.71449160</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>COMM 2012-CCRE3 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2012-CR3, Class F</title>
        <cusip>12624PAW5</cusip>
        <identifiers>
          <isin value="US12624PAW59"/>
          <other otherDesc="Inhouse Asset ID" value="1292346"/>
        </identifiers>
        <balance>395189.24000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24154.16000000</valUSD>
        <pctVal>0.006654125977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-93, Class TI</title>
        <cusip>38380FAU0</cusip>
        <identifiers>
          <isin value="US38380FAU03"/>
          <other otherDesc="Inhouse Asset ID" value="1295852"/>
        </identifiers>
        <balance>89625.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520.30000000</valUSD>
        <pctVal>0.000143335216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1396150"/>
        </identifiers>
        <balance>63000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4006.67000000</valUSD>
        <pctVal>0.001103780339</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CITIBANK NA</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BBB-16</indexName>
                <indexIdentifier>137BERAP2</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Payout of notional amount upon default event with regard to the reference instrument</otherPmntDesc>
            <terminationDt>2065-04-17</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>14320.82000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>63000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>4006.67000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="21375"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>3560.77000000</valUSD>
        <pctVal>0.000980941260</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
              <counterpartyLei>BFM8T61CT2L1QCEMIK50</counterpartyLei>
            </counterparties>
            <amtCurSold>166600.00000000</amtCurSold>
            <curSold>NZD</curSold>
            <amtCurPur>101967.03000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-10-15</settlementDt>
            <unrealizedAppr>3560.77000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2014-119, Class SA</title>
        <cusip>38379EAL6</cusip>
        <identifiers>
          <isin value="US38379EAL65"/>
          <other otherDesc="Inhouse Asset ID" value="1296102"/>
        </identifiers>
        <balance>1282471.94000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112141.65000000</valUSD>
        <pctVal>0.030893422349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.13487120</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>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
        <cusip>42704LAE4</cusip>
        <identifiers>
          <isin value="US42704LAE48"/>
          <other otherDesc="Inhouse Asset ID" value="1363417"/>
        </identifiers>
        <balance>140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143434.48000000</valUSD>
        <pctVal>0.039514149917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</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>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2015-DC1, Class B</title>
        <cusip>12629NAJ4</cusip>
        <identifiers>
          <isin value="US12629NAJ46"/>
          <other otherDesc="Inhouse Asset ID" value="1185219"/>
        </identifiers>
        <balance>906000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>863205.36000000</valUSD>
        <pctVal>0.237800743619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.03499880</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
        <cusip>3617LSDS9</cusip>
        <identifiers>
          <isin value="US3617LSDS98"/>
          <other otherDesc="Inhouse Asset ID" value="1295446"/>
        </identifiers>
        <balance>56072.36000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52993.11000000</valUSD>
        <pctVal>0.014598844665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Welltower OP LLC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower OP LLC</title>
        <cusip>95041AAB4</cusip>
        <identifiers>
          <isin value="US95041AAB44"/>
          <other otherDesc="Inhouse Asset ID" value="1262857"/>
        </identifiers>
        <balance>111000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>193140.00000000</valUSD>
        <pctVal>0.053207310509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Welltower, Inc.</name>
              <title>Welltower, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="95040Q104"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="10.48620300" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KazMunayGas National Co. JSC</name>
        <lei>2138001H1M69RFJCSH88</lei>
        <title>KazMunayGas National Co. JSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1807300105"/>
          <other otherDesc="Inhouse Asset ID" value="927827"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013565.16000000</valUSD>
        <pctVal>0.279222720251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>N/A</name>
        <lei>N/A</lei>
        <title>IRS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1483826"/>
        </identifiers>
        <balance>56552000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NOK" exchangeRt="10.33870000"/>
        <valUSD>-41705.68000000</valUSD>
        <pctVal>-0.01148931896</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="NIBOR" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="6" resetDt="Month" resetDtUnit="6"/>
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            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="4.00000000"/>
            <terminationDt>2035-09-17</terminationDt>
            <upfrontPmnt>12757.95000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>56552000.00000000</notionalAmt>
            <curCd>NOK</curCd>
            <unrealizedAppr>-41705.68000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFA8</cusip>
        <identifiers>
          <isin value="US61747YFA82"/>
          <other otherDesc="Inhouse Asset ID" value="1234475"/>
        </identifiers>
        <balance>1350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1370026.80000000</valUSD>
        <pctVal>0.377422809119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12300000</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>Power Finance Corp. Ltd.</name>
        <lei>3358003Q6D9LIJJZ1614</lei>
        <title>Power Finance Corp. Ltd.</title>
        <cusip>73928RAB2</cusip>
        <identifiers>
          <isin value="US73928RAB24"/>
          <other otherDesc="Inhouse Asset ID" value="1236207"/>
        </identifiers>
        <balance>890000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>858641.80000000</valUSD>
        <pctVal>0.236543548041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F050684</cusip>
        <identifiers>
          <isin value="US01F0506844"/>
          <other otherDesc="Inhouse Asset ID" value="1492954"/>
        </identifiers>
        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3893728.24000000</valUSD>
        <pctVal>1.072666498414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H23, Class NI</title>
        <cusip>38376RA63</cusip>
        <identifiers>
          <isin value="US38376RA632"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Shift4 Payments, Inc.</name>
        <lei>N/A</lei>
        <title>Shift4 Payments, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC Bank</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA Connecticut Avenue Securities Trust, Series 2016-C05, Class 2B</title>
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          <isin value="US30711XDN12"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2014-60, Class SD</title>
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        <balance>3032420.86000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2014-CR19, Class D</title>
        <cusip>12592GAG8</cusip>
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          <isin value="US12592GAG82"/>
          <other otherDesc="Inhouse Asset ID" value="1292224"/>
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        <balance>91381.08020000</balance>
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        <curCd>USD</curCd>
        <valUSD>88935.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-10</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>05571BVJ9</cusip>
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          <isin value="US05571BVJ96"/>
          <other otherDesc="Inhouse Asset ID" value="1445261"/>
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        <balance>1800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1796108.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Huntsman International LLC</name>
        <lei>3YTEJFW18LGIUQ2N5J61</lei>
        <title>Huntsman International LLC</title>
        <cusip>44701QBE1</cusip>
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          <isin value="US44701QBE17"/>
          <other otherDesc="Inhouse Asset ID" value="1177818"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>456500.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2013-34, Class IH</title>
        <cusip>38378JL67</cusip>
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          <isin value="US38378JL673"/>
          <other otherDesc="Inhouse Asset ID" value="1296156"/>
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        <balance>858824.09000000</balance>
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        <curCd>USD</curCd>
        <valUSD>163238.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MicroStrategy, Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>MicroStrategy, Inc.</title>
        <cusip>594972AT8</cusip>
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          <isin value="US594972AT86"/>
          <other otherDesc="Inhouse Asset ID" value="1446954"/>
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        <balance>231000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>271499.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
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              <title>MicroStrategy, Inc.</title>
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          <currencyInfos>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2006-OA7, Class 1A2</title>
        <cusip>02146BAB2</cusip>
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          <isin value="US02146BAB27"/>
          <other otherDesc="Inhouse Asset ID" value="1292792"/>
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        <balance>261961.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256993.76000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.90872960</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
        <cusip>86765KAD1</cusip>
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          <isin value="US86765KAD19"/>
          <other otherDesc="Inhouse Asset ID" value="1455519"/>
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        <balance>403000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408450.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
        <cusip>69331CAL2</cusip>
        <identifiers>
          <isin value="US69331CAL28"/>
          <other otherDesc="Inhouse Asset ID" value="1313197"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164752.50000000</valUSD>
        <pctVal>0.045386959845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
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              <name>PG&amp;E Corp.</name>
              <title>PG&amp;E Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>South Bow USA Infrastructure Holdings LLC</name>
        <lei>254900Z1WAY7QFQ7O850</lei>
        <title>South Bow USA Infrastructure Holdings LLC</title>
        <cusip>83007CAC6</cusip>
        <identifiers>
          <isin value="US83007CAC64"/>
          <other otherDesc="Inhouse Asset ID" value="1384533"/>
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        <balance>460000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459759.01000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.02600000</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>Paraguay Government International Bond</name>
        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Paraguay Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP75744AL92"/>
          <other otherDesc="Inhouse Asset ID" value="1323021"/>
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        <balance>1620000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1472175.00000000</valUSD>
        <pctVal>0.405563178775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PY</invCountry>
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      <invstOrSec>
        <name>Taylor Morrison Communities, Inc.</name>
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        <title>Taylor Morrison Communities, Inc.</title>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>MIZUHO CAPITAL MARKETS LLC</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F052680</cusip>
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          <isin value="US01F0526800"/>
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        <balance>21000000.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>AES Andes SA</name>
        <lei>549300IF4IFG0FS0RM26</lei>
        <title>AES Andes SA</title>
        <cusip>00111VAD9</cusip>
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          <isin value="US00111VAD91"/>
          <other otherDesc="Inhouse Asset ID" value="1452903"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>559826.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Constellium SE</name>
        <lei>724500KRJEMC79KAAU28</lei>
        <title>Constellium SE</title>
        <cusip>21039CAD6</cusip>
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        <balance>385000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>390567.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2020-63, Class PS</title>
        <cusip>38382FGP3</cusip>
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          <isin value="US38382FGP36"/>
          <other otherDesc="Inhouse Asset ID" value="1295509"/>
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        <balance>4827035.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>595373.82000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-20</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
        <cusip>3617LELG7</cusip>
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          <isin value="US3617LELG72"/>
          <other otherDesc="Inhouse Asset ID" value="1295684"/>
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        <balance>82533.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73324.05000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2049-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PG Polaris BidCo SARL</name>
        <lei>254900XMCCB3IEZ2A005</lei>
        <title>PG Polaris BidCo SARL, First Lien, Initial CME Term Loan</title>
        <cusip>91728NAB5</cusip>
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          <isin value="US91728NAB55"/>
          <other otherDesc="Inhouse Asset ID" value="1331501"/>
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        <balance>198502.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199395.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-26</maturityDt>
          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>549300FU8TZDHFLQZL50</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2016-C5, Class A5</title>
        <cusip>12636LAY6</cusip>
        <identifiers>
          <isin value="US12636LAY65"/>
          <other otherDesc="Inhouse Asset ID" value="1230751"/>
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        <balance>404736.16000000</balance>
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        <curCd>USD</curCd>
        <valUSD>403040.44000000</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>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>5493000KIGZAWUOW4E32</lei>
        <title>FHLMC STACR REMIC Trust, Series 2023-HQA2, Class M1B</title>
        <cusip>35564K2G3</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1300236"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>731342.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2043-06-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Petronas Capital Ltd.</name>
        <lei>549300G7YFX3540OYR85</lei>
        <title>Petronas Capital Ltd.</title>
        <cusip>716743AV1</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1457213"/>
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        <balance>840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>854034.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2014-H21, Class BI</title>
        <cusip>38375UPZ7</cusip>
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          <isin value="US38375UPZ74"/>
          <other otherDesc="Inhouse Asset ID" value="1295820"/>
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        <balance>2961702.38000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59044.50000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Saluda Grade Alternative Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Saluda Grade Alternative Mortgage Trust, Series 2024-RTL4, Class A1</title>
        <cusip>79584CAA9</cusip>
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          <isin value="US79584CAA99"/>
          <other otherDesc="Inhouse Asset ID" value="1325310"/>
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        <balance>1227000.00000000</balance>
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        <valUSD>1233768.13000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
        <cusip>3617JSVJ2</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1295744"/>
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        <balance>46700.65000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42009.00000000</valUSD>
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      <invstOrSec>
        <name>BDS Ltd.</name>
        <lei>N/A</lei>
        <title>BDS Ltd., Series 2021-FL9, Class A</title>
        <cusip>05493NAA0</cusip>
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          <isin value="US05493NAA00"/>
          <other otherDesc="Inhouse Asset ID" value="1292056"/>
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        <balance>132690.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>132869.93000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-16</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H02, Class BI</title>
        <cusip>38375UYG9</cusip>
        <identifiers>
          <isin value="US38375UYG92"/>
          <other otherDesc="Inhouse Asset ID" value="1295928"/>
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        <balance>1727368.97000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66267.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-01-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.32515000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
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        <cusip>105756CC2</cusip>
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          <isin value="US105756CC23"/>
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        <balance>2200000.00000000</balance>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
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          <isin value="US74843PAA84"/>
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        <balance>165000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
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          <isin value="US12635FAT12"/>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust, Inc.</name>
        <lei>549300R1KUK063S4I339</lei>
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          <isin value="US17312EAE68"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AAdvantage Loyalty IP Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Protective Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TK Elevator Midco GmbH</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Shake Shack, Inc.</name>
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        <name>Bear Stearns ALT-A Trust</name>
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        <name>GNMA</name>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
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        <lei>N/A</lei>
        <title>SOP</title>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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            <unrealizedAppr>109541.75000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2018-5, Class M1</title>
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          <isin value="US89176VAC63"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WFRBS Commercial Mortgage Trust, Series 2012-C9, Class E</title>
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          <isin value="US92930RAK86"/>
          <other otherDesc="Inhouse Asset ID" value="1292343"/>
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        <balance>349626.21000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2024-5C8, Class XA</title>
        <cusip>09661XAD0</cusip>
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          <isin value="US09661XAD03"/>
          <other otherDesc="Inhouse Asset ID" value="1426279"/>
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        <balance>5934989.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>231822.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.02082680</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>54930047IR7X5WWFY307</lei>
        <title>FHLMC STACR Trust, Series 2019-HQA1, Class B2</title>
        <cusip>35563MBE5</cusip>
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          <isin value="US35563MBE57"/>
          <other otherDesc="Inhouse Asset ID" value="1262680"/>
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        <balance>254000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312952.28000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>16.71449040</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
        <cusip>95081QAS3</cusip>
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          <isin value="US95081QAS30"/>
          <other otherDesc="Inhouse Asset ID" value="1448196"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102455.50000000</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>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BioMarin Pharmaceutical, Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>BioMarin Pharmaceutical, Inc.</title>
        <cusip>09061GAK7</cusip>
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          <isin value="US09061GAK76"/>
          <other otherDesc="Inhouse Asset ID" value="1147870"/>
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        <balance>109000.00000000</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>
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          <annualizedRt>1.25000000</annualizedRt>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>BioMarin Pharmaceutical, Inc.</name>
              <title>BioMarin Pharmaceutical, Inc.</title>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="17940"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Toronto Dominion Bank</counterpartyName>
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            <amtCurSold>222400.00000000</amtCurSold>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>78014XPU5</cusip>
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          <isin value="US78014XPU53"/>
          <other otherDesc="Inhouse Asset ID" value="1456246"/>
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        <balance>1850000.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-23</maturityDt>
          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300XO83D3BDYP0P62</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class AS</title>
        <cusip>94989TBB9</cusip>
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          <isin value="US94989TBB98"/>
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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>2058-09-15</maturityDt>
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      <invstOrSec>
        <name>CFCRE Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CFCRE Commercial Mortgage Trust, Series 2011-C2, Class E</title>
        <cusip>12527DAG5</cusip>
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          <isin value="US12527DAG51"/>
          <other otherDesc="Inhouse Asset ID" value="1292459"/>
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        <balance>424000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-12-15</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H18, Class QI</title>
        <cusip>38376RYA8</cusip>
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          <isin value="US38376RYA84"/>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Jefferson Capital Holdings LLC</name>
        <lei>N/A</lei>
        <title>Jefferson Capital Holdings LLC</title>
        <cusip>472481AB6</cusip>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK NA</counterpartyName>
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                <indexName>Markit CMBX North American Index Series BB-10</indexName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Government Bond</title>
        <cusip>03846JAH3</cusip>
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          <isin value="US03846JAH32"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
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        <name>Pertamina Hulu Energi PT</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QXO Building Products, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Live Nation Entertainment, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Snap, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IHS Holding Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Phoenix Guarantor, Inc.</name>
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        <name>Meritage Homes Corp.</name>
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        <name>GNMA</name>
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        <name>GNMA</name>
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        <name>Merit Medical Systems, Inc.</name>
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              <title>Merit Medical Systems, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Hashemite Kingdom of Jordan</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cloud Software Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PPL Capital Funding, Inc.</name>
        <lei>549300MROK5WY0D2NU17</lei>
        <title>PPL Capital Funding, Inc.</title>
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          <isin value="US69352PAS20"/>
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        <balance>201000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>PPL Corp.</title>
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          <currencyInfos>
            <currencyInfo convRatio="29.34324000" curCd="USD"/>
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      <invstOrSec>
        <name>Spirit AeroSystems, Inc.</name>
        <lei>ZD2NBKV6GCC3UMGBM518</lei>
        <title>Spirit AeroSystems, Inc.</title>
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          <isin value="US85205TAN00"/>
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        <balance>206000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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          <isin value="US37940XAU63"/>
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        <balance>177000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Global Payments, Inc.</name>
              <title>Global Payments, Inc.</title>
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                <cusip value="37940X102"/>
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          <currencyInfos>
            <currencyInfo convRatio="6.37100100" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="18051"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Bank of America</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>Flutter Financing BV</name>
        <lei>N/A</lei>
        <title>Flutter Financing BV, First Lien, 2024 Refinancing CME Term Loan, B</title>
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          <isin value="XAN3313EAG51"/>
          <other otherDesc="Inhouse Asset ID" value="1427168"/>
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        <balance>236400.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>235986.30000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.04561000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
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        <cusip>836205BC7</cusip>
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          <isin value="US836205BC70"/>
          <other otherDesc="Inhouse Asset ID" value="1198296"/>
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        <balance>430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>419317.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300ZVNWG0TX42H716</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class A4</title>
        <cusip>94989VAD1</cusip>
        <identifiers>
          <isin value="US94989VAD10"/>
          <other otherDesc="Inhouse Asset ID" value="1374554"/>
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        <curCd>USD</curCd>
        <valUSD>661718.55000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Jones Deslauriers Insurance Management, Inc.</name>
        <lei>549300JQIWNFU00E5424</lei>
        <title>Jones Deslauriers Insurance Management, Inc.</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
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        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
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      <invstOrSec>
        <name>Franklin Ultra Short Bond ETF</name>
        <lei>549300C2WYDHE3Y9X469</lei>
        <title>Franklin Ultra Short Bond ETF</title>
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          <other otherDesc="Inhouse Asset ID" value="1037303"/>
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        <balance>368080.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1483845"/>
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        <balance>3908000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CHF" exchangeRt="0.81225000"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nouryon Finance BV</name>
        <lei>N/A</lei>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chobani LLC</name>
        <lei>N/A</lei>
        <title>Chobani LLC, First Lien, 2025 New CME Term Loan</title>
        <cusip>17026YAK5</cusip>
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          <isin value="US17026YAK55"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>38384HZW1</cusip>
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          <isin value="US38384HZW14"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class A4</title>
        <cusip>94989WAS6</cusip>
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          <isin value="US94989WAS61"/>
          <other otherDesc="Inhouse Asset ID" value="1306944"/>
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        <balance>712824.14000000</balance>
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        <curCd>USD</curCd>
        <valUSD>710277.79000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.69500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Outfront Media Capital LLC / Outfront Media Capital Corp.</name>
        <lei>N/A</lei>
        <title>Outfront Media Capital LLC / Outfront Media Capital Corp.</title>
        <cusip>69007TAG9</cusip>
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          <isin value="US69007TAG94"/>
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        <balance>168000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>176552.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>White Cap Supply Holdings LLC</name>
        <lei>254900L2N0T6GULCL366</lei>
        <title>White Cap Supply Holdings LLC, First Lien, CME Term Loan, C</title>
        <cusip>96350TAH3</cusip>
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          <isin value="US96350TAH32"/>
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        <balance>1032160.20270000</balance>
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        <curCd>USD</curCd>
        <valUSD>1031958.93000000</valUSD>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-19</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650EH9</cusip>
        <identifiers>
          <isin value="US126650EH94"/>
          <other otherDesc="Inhouse Asset ID" value="1425220"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>407379.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>5493005RUXPCBST1N217</lei>
        <title>FHLMC STACR Trust, Series 2018-HQA2, Class B2</title>
        <cusip>35563XBE1</cusip>
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          <isin value="US35563XBE13"/>
          <other otherDesc="Inhouse Asset ID" value="1293097"/>
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        <balance>1619000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2030332.53000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>15.46449120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings, Inc., First Lien, 2024 Refinancing CME Term Loan</title>
        <cusip>18452RAF2</cusip>
        <identifiers>
          <isin value="US18452RAF29"/>
          <other otherDesc="Inhouse Asset ID" value="1337185"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>369966.70000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.47072000</annualizedRt>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2014-CR17, Class D</title>
        <cusip>12631DAG8</cusip>
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          <isin value="US12631DAG88"/>
          <other otherDesc="Inhouse Asset ID" value="1292115"/>
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        <balance>725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>583048.63000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.84319520</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MKS, Inc.</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKS, Inc.</title>
        <cusip>55306NAB0</cusip>
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          <isin value="US55306NAB01"/>
          <other otherDesc="Inhouse Asset ID" value="1356501"/>
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        <balance>144000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140483.24000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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              <title>MKS, Inc.</title>
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      <invstOrSec>
        <name>Novelis Corp.</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp.</title>
        <cusip>670001AL0</cusip>
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          <isin value="US670001AL04"/>
          <other otherDesc="Inhouse Asset ID" value="1434635"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RR Donnelley &amp; Sons Co.</name>
        <lei>SU4X0P4WWRGOQDTSV032</lei>
        <title>RR Donnelley &amp; Sons Co.</title>
        <cusip>257867BJ9</cusip>
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          <isin value="US257867BJ97"/>
          <other otherDesc="Inhouse Asset ID" value="1379472"/>
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        <balance>630000.00000000</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>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Bulgaria</name>
        <lei>529900PG0XCL4LICL838</lei>
        <title>Bulgaria Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="XS2890436087"/>
          <other otherDesc="Inhouse Asset ID" value="1392428"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>BG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
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        <balance>2202100.00000000</balance>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Northern Oil &amp; Gas, Inc.</name>
        <lei>OKFF0PIZDDMNH4UCYE51</lei>
        <title>Northern Oil &amp; Gas, Inc.</title>
        <cusip>665531AJ8</cusip>
        <identifiers>
          <isin value="US665531AJ80"/>
          <other otherDesc="Inhouse Asset ID" value="1219321"/>
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        <balance>133000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>138353.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>Illumina, Inc.</name>
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        <name>GNMA</name>
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        <name>Microchip Technology, Inc.</name>
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        <name>BANK5</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Uber Technologies, Inc.</title>
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        <name>Republic of Guatemala</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK NA</counterpartyName>
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                <indexName>Markit CMBX North American Index Series BB-13</indexName>
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      <invstOrSec>
        <name>Crocs, Inc.</name>
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        <title>Crocs, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="18024"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank</counterpartyName>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Bills</title>
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          <isin value="US912797QP55"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Etsy, Inc.</name>
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        <name>Kinetik Holdings LP</name>
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        <name>Halozyme Therapeutics, Inc.</name>
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        <name>Air France-KLM</name>
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        <name>Commercial Metals Co.</name>
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        <name>A&amp;D Mortgage Trust</name>
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      <invstOrSec>
        <name>Putnam Government Money Market Fund</name>
        <lei>549300SEUI2XMME8T893</lei>
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        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Sinclair Television Group, Inc.</name>
        <lei>549300CQGEN0CH65UD62</lei>
        <title>Sinclair Television Group, Inc.</title>
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          <isin value="US829259BH26"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>561357.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>United Airlines, Inc.</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines, Inc.</title>
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          <isin value="US90932LAH06"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BBB-6</indexName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US38383VL975"/>
          <other otherDesc="Inhouse Asset ID" value="1300319"/>
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        <curCd>USD</curCd>
        <valUSD>1059169.26000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-02-20</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H24, Class CI</title>
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          <isin value="US38376RF359"/>
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        <curCd>USD</curCd>
        <valUSD>35046.34000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-10-20</maturityDt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>N/A</lei>
        <title>FNMA Connecticut Avenue Securities Trust, Series 2022-R02, Class 2M2</title>
        <cusip>20754BAB7</cusip>
        <identifiers>
          <isin value="US20754BAB71"/>
          <other otherDesc="Inhouse Asset ID" value="1293231"/>
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        <balance>1640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1680590.66000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.35000840</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Romania</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2770921315"/>
          <other otherDesc="Inhouse Asset ID" value="1330025"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
        <valUSD>894759.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Venture Global Plaquemines LNG LLC</name>
        <lei>549300TKP4I6OJ02BF90</lei>
        <title>Venture Global Plaquemines LNG LLC</title>
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          <isin value="US922966AA47"/>
          <other otherDesc="Inhouse Asset ID" value="1463967"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75639.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2012-146</title>
        <cusip>38378GNB0</cusip>
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          <isin value="US38378GNB04"/>
          <other otherDesc="Inhouse Asset ID" value="1296011"/>
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        <balance>440233.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92674.07000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Bath &amp; Body Works, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>Bath &amp; Body Works, Inc.</title>
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        <balance>985000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1015104.56000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2019-110, Class SQ</title>
        <cusip>38381YWU4</cusip>
        <identifiers>
          <isin value="US38381YWU45"/>
          <other otherDesc="Inhouse Asset ID" value="1295699"/>
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        <balance>3626626.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394243.65000000</valUSD>
        <pctVal>0.108608492812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.58487120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Burlington Stores, Inc.</name>
        <lei>5299003Z37DVGKKC1W09</lei>
        <title>Burlington Stores, Inc.</title>
        <cusip>122017AD8</cusip>
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          <isin value="US122017AD81"/>
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        <balance>76000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109364.00000000</valUSD>
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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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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Burlington Stores, Inc.</name>
              <title>Burlington Stores, Inc.</title>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
        <cusip>42704LAG9</cusip>
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          <isin value="US42704LAG95"/>
          <other otherDesc="Inhouse Asset ID" value="1473661"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>828999.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>Serbia International Bond</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Serbia Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="XS2580269426"/>
          <other otherDesc="Inhouse Asset ID" value="1234886"/>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>527923.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RS</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Bank of America NA</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
        <title>Bank of America NA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1459427"/>
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        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1750000.00000000</valUSD>
        <pctVal>0.482099996846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="21372"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>15377.42000000</valUSD>
        <pctVal>0.004236259504</pctVal>
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        <assetCat>DFE</assetCat>
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        <name>FNMA</name>
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        <name>AIB Group plc</name>
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      <invstOrSec>
        <name>Avient Corp.</name>
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        <title>Avient Corp.</title>
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        <name>Raizen Fuels Finance SA</name>
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        <name>Republic of Uzbekistan International Bond</name>
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        <title>Uzbekistan Government Bond</title>
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        <curCd>USD</curCd>
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        <name>Endo Finance Holdings, Inc.</name>
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        <name>FHLMC</name>
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        <name>Allied Universal Holdco LLC</name>
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        <name>N/A</name>
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        <name>GNMA</name>
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        <name>Republic of Cameroon International Bond</name>
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        <title>Cameroon Government Bond</title>
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      <invstOrSec>
        <name>CD Mortgage Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Live Nation Entertainment, Inc.</name>
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              <title>Live Nation Entertainment, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>J.P. Morgan Mortgage Trust</name>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>CSAIL</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-26, Class MI</title>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <cusip>46641JAE6</cusip>
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      <invstOrSec>
        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
        <cusip>911365BN3</cusip>
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        <balance>196000.00000000</balance>
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        <valUSD>185596.38000000</valUSD>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 5002, Class SJ</title>
        <cusip>3137FUAM6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>Chobani LLC / Chobani Finance Corp., Inc.</name>
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        <name>NRG Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Block, Inc.</name>
        <lei>549300OHIIUWSTIZME52</lei>
        <title>Block, Inc.</title>
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              <title>Block, Inc.</title>
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        <name>GNMA</name>
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      <invstOrSec>
        <name>AAdvantage Loyalty IP Ltd.</name>
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        <name>CommScope, Inc.</name>
        <lei>N/A</lei>
        <title>CommScope, Inc., First Lien, Initial CME Term Loan</title>
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        <identifiers>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300RD723OFH36TP29</lei>
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        <cusip>94989XBC8</cusip>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>Clarios Global LP</name>
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        <title>Clarios Global LP, First Lien, Amendment No. 6 Dollar CME Term Loan</title>
        <cusip>C8000CAP8</cusip>
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        <name>BANK5</name>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP, First Lien, Dollar Incremental CME Term Loan</title>
        <cusip>58503UAF0</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1363098"/>
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        <balance>399271.86480000</balance>
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        <curCd>USD</curCd>
        <valUSD>400076.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Panama</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>Panama Government Bond</title>
        <cusip>698299BY9</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1347527"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Boise Cascade Co.</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>FHLMC</name>
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        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>TIAA Real Estate CDO Ltd.</name>
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        <name>Home RE Ltd.</name>
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        <name>Alliant Holdings Intermediate LLC</name>
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      <invstOrSec>
        <name>FHLMC</name>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>GNMA</name>
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        <issuerCat>USGA</issuerCat>
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      <invstOrSec>
        <name>ON Semiconductor Corp.</name>
        <lei>ZV20P4CNJVT8V1ZGJ064</lei>
        <title>ON Semiconductor Corp.</title>
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        <name>Structured Asset Mortgage Investments II Trust</name>
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        <name>Broadcom Corp. / Broadcom Cayman Finance Ltd.</name>
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        <name>Eversource Energy</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP MORGAN CHASE BANK NA</counterpartyName>
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        <name>N/A</name>
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        <name>LSTAR Commercial Mortgage Trust</name>
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        <name>Transnet SOC Ltd.</name>
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        <name>Benin Government International Bond</name>
        <lei>635400Q11P6AE5A5Y230</lei>
        <title>Benin Government Bond</title>
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        <invCountry>BJ</invCountry>
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        <name>Terex Corp.</name>
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        <name>N/A</name>
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                <indexName>Markit CMBX North American Index Series BB-13</indexName>
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        <name>MortgageIT Trust</name>
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        <name>Venture Global Plaquemines LNG LLC</name>
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        <title>Venture Global Plaquemines LNG LLC</title>
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        <name>Haemonetics Corp.</name>
        <lei>549300ZEL6TXZS6F5F95</lei>
        <title>Haemonetics Corp.</title>
        <cusip>405024AD2</cusip>
        <identifiers>
          <isin value="US405024AD24"/>
          <other otherDesc="Inhouse Asset ID" value="1360613"/>
        </identifiers>
        <balance>107000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107053.50000000</valUSD>
        <pctVal>0.029491709721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Haemonetics Corp.</name>
              <title>Haemonetics Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="405024100"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="8.53849900" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>Clydesdale Acquisition Holdings, Inc., First Lien, 2025 Incremental Closing Date CME Term Loan, B</title>
        <cusip>18972FAE2</cusip>
        <identifiers>
          <isin value="US18972FAE25"/>
          <other otherDesc="Inhouse Asset ID" value="1455140"/>
        </identifiers>
        <balance>442268.04000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>442460.43000000</valUSD>
        <pctVal>0.121891526804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.60624000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2018-127, Class IC</title>
        <cusip>38380YYA7</cusip>
        <identifiers>
          <isin value="US38380YYA71"/>
          <other otherDesc="Inhouse Asset ID" value="1296316"/>
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        <balance>2612109.82000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518800.27000000</valUSD>
        <pctVal>0.142922062017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRB Holding Corp.</name>
        <lei>549300HVW4WNWYBXN830</lei>
        <title>IRB Holding Corp., First Lien, 2024 Second Replacement CME Term Loan, B</title>
        <cusip>44988LAL1</cusip>
        <identifiers>
          <isin value="US44988LAL18"/>
          <other otherDesc="Inhouse Asset ID" value="1425244"/>
        </identifiers>
        <balance>585395.40460000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>585895.92000000</valUSD>
        <pctVal>0.161405954962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.85624000</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>Republic of Chile</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government Bond</title>
        <cusip>168863EB0</cusip>
        <identifiers>
          <isin value="US168863EB04"/>
          <other otherDesc="Inhouse Asset ID" value="1322749"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405800.00000000</valUSD>
        <pctVal>0.111792102125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1418965"/>
        </identifiers>
        <balance>1201500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50391.32000000</valUSD>
        <pctVal>0.013882088693</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
              <counterpartyLei>549300QVEGJN81E8T563</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>4.12500000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-11-12</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-5238.13000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saluda Grade Alternative Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Saluda Grade Alternative Mortgage Trust, Series 2024-RTL5, Class A1</title>
        <cusip>795935AA3</cusip>
        <identifiers>
          <isin value="US795935AA37"/>
          <other otherDesc="Inhouse Asset ID" value="1339969"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1413594.28000000</valUSD>
        <pctVal>0.389425027388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.76199960</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="21366"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>252.73000000</valUSD>
        <pctVal>0.000069623504</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <amtCurSold>19800.00000000</amtCurSold>
            <curSold>CAD</curSold>
            <amtCurPur>14594.24000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-10-15</settlementDt>
            <unrealizedAppr>252.73000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1484055"/>
        </identifiers>
        <balance>279276000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>673578.05000000</valUSD>
        <pctVal>0.185561129017</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
            </counterparties>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFR" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Day" resetDtUnit="1"/>
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            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.58000000"/>
            <terminationDt>2027-09-17</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>355120.79000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>279276000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>673578.05000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2020-13, Class AI</title>
        <cusip>38382CCP4</cusip>
        <identifiers>
          <isin value="US38382CCP41"/>
          <other otherDesc="Inhouse Asset ID" value="1342590"/>
        </identifiers>
        <balance>7872235.10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1043951.27000000</valUSD>
        <pctVal>0.287593659414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2020-63, Class AS</title>
        <cusip>38382FGR9</cusip>
        <identifiers>
          <isin value="US38382FGR91"/>
          <other otherDesc="Inhouse Asset ID" value="1295486"/>
        </identifiers>
        <balance>4034411.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>460997.27000000</valUSD>
        <pctVal>0.126998161378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.53487080</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>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2015-CR22, Class B</title>
        <cusip>12592XBG0</cusip>
        <identifiers>
          <isin value="US12592XBG07"/>
          <other otherDesc="Inhouse Asset ID" value="1292508"/>
        </identifiers>
        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>354150.13000000</valUSD>
        <pctVal>0.097563300889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.92600160</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F060683</cusip>
        <identifiers>
          <isin value="US01F0606834"/>
          <other otherDesc="Inhouse Asset ID" value="1492953"/>
        </identifiers>
        <balance>27000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27377408.16000000</valUSD>
        <pctVal>7.542084792914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2006-OA10, Class 1A1</title>
        <cusip>02146QAA1</cusip>
        <identifiers>
          <isin value="US02146QAA13"/>
          <other otherDesc="Inhouse Asset ID" value="1293082"/>
        </identifiers>
        <balance>179188.33000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>161367.26000000</valUSD>
        <pctVal>0.044454374592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.92873120</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>FHLMC</name>
        <lei>5493000ITFTMJUMPDE35</lei>
        <title>FHLMC STACR REMIC Trust, Series 2020-DNA4, Class B2</title>
        <cusip>35565XBE9</cusip>
        <identifiers>
          <isin value="US35565XBE94"/>
          <other otherDesc="Inhouse Asset ID" value="1293093"/>
        </identifiers>
        <balance>966000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1277750.61000000</valUSD>
        <pctVal>0.352002037172</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.46449040</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2021-98, Class SK</title>
        <cusip>38382TD27</cusip>
        <identifiers>
          <isin value="US38382TD275"/>
          <other otherDesc="Inhouse Asset ID" value="1296183"/>
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        <balance>8900460.77000000</balance>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Jane Street Group / JSG Finance, Inc.</name>
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        <name>N/A</name>
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              <counterpartyName>HSBC Bank</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Gabonese Republic</name>
        <lei>N/A</lei>
        <title>Gabonese Republic</title>
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          <isin value="XS2113615228"/>
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        <balance>810000.00000000</balance>
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        <invCountry>GA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DoorDash, Inc.</name>
        <lei>549300NUQ43FGGSK5051</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freedom Mortgage Corp.</name>
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        <title>Freedom Mortgage Corp.</title>
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        <name>Post Holdings, Inc.</name>
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        <name>Commonwealth Bank of Australia</name>
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        <name>Hess Midstream Operations LP</name>
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        <name>Pharmacia LLC</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>549300WF5YRKNHB1FX69</lei>
        <title>GS Mortgage Securities Trust, Series 2013-GC13, Class AS</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
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        <name>Repligen Corp.</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>Beach Acquisition Bidco LLC</name>
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        <name>PetSmart LLC</name>
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        <name>Hercules Capital, Inc.</name>
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        <name>FHLMC Multifamily Structured Credit Risk</name>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <name>Banijay Entertainment SAS</name>
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        <name>GNMA</name>
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        <name>New York Life Global Funding</name>
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        <name>Kinder Morgan, Inc.</name>
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        <name>Targa Resources Corp.</name>
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        <title>Targa Resources Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Smyrna Ready Mix Concrete LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H09</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
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        <title>Teva Pharmaceutical Finance Netherlands III BV</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Republic of South Africa</name>
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        <invCountry>ZA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <name>Viking Cruises Ltd.</name>
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        <title>Viking Cruises Ltd.</title>
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        <invCountry>BM</invCountry>

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        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2018-38, Class SA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DA4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Viking Cruises Ltd.</name>
        <lei>549300IJP90T4MV2GL84</lei>
        <title>Viking Cruises Ltd.</title>
        <cusip>92676XAG2</cusip>
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          <isin value="US92676XAG25"/>
          <other otherDesc="Inhouse Asset ID" value="1277468"/>
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        <balance>430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>462972.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1484225"/>
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        <balance>79758000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-93279.09000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="SOFR" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="12" resetDt="Day" resetDtUnit="1"/>
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            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.88000000"/>
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            <upfrontRcpt>229869.40000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>79758000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-93279.09000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust, Series 2018-C8, Class B</title>
        <cusip>46591ABF1</cusip>
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          <isin value="US46591ABF12"/>
          <other otherDesc="Inhouse Asset ID" value="1317390"/>
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        <balance>504000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>473850.87000000</valUSD>
        <pctVal>0.130539144532</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.52160000</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>Tyler Technologies, Inc.</name>
        <lei>25490040SMU4Z8LBCW70</lei>
        <title>Tyler Technologies, Inc.</title>
        <cusip>902252AB1</cusip>
        <identifiers>
          <isin value="US902252AB17"/>
          <other otherDesc="Inhouse Asset ID" value="1137310"/>
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        <balance>199000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241486.50000000</valUSD>
        <pctVal>0.066526080507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Tyler Technologies, Inc.</name>
              <title>Tyler Technologies, Inc.</title>
              <curCd>USD</curCd>
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                <cusip value="902252105"/>
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          <currencyInfos>
            <currencyInfo convRatio="2.02660000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1451011"/>
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        <balance>8682100.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75434.65000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
              <counterpartyLei>549300QVEGJN81E8T563</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <cusip value="N/A"/>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>3.83250000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-08</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-131633.44000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Chile</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government Bond</title>
        <cusip>168863EE4</cusip>
        <identifiers>
          <isin value="US168863EE43"/>
          <other otherDesc="Inhouse Asset ID" value="1434296"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310035.00000000</valUSD>
        <pctVal>0.085410212869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</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>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2024-V11, Class XA</title>
        <cusip>081921BA5</cusip>
        <identifiers>
          <isin value="US081921BA52"/>
          <other otherDesc="Inhouse Asset ID" value="1413181"/>
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        <balance>20387000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>451164.31000000</valUSD>
        <pctVal>0.124289321387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.56025720</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>Adient Global Holdings Ltd.</name>
        <lei>213800VA38VCKE6M8790</lei>
        <title>Adient Global Holdings Ltd.</title>
        <cusip>00687YAD7</cusip>
        <identifiers>
          <isin value="US00687YAD76"/>
          <other otherDesc="Inhouse Asset ID" value="1441016"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81633.68000000</valUSD>
        <pctVal>0.022488912497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Costa Rica</name>
        <lei>549300S1EK2VN6XVJP58</lei>
        <title>Costa Rica Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP3699PGK77"/>
          <other otherDesc="Inhouse Asset ID" value="1168628"/>
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        <balance>1360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1399100.00000000</valUSD>
        <pctVal>0.385432060335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
        <cusip>694308KL0</cusip>
        <identifiers>
          <isin value="US694308KL02"/>
          <other otherDesc="Inhouse Asset ID" value="1273633"/>
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        <balance>440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>455201.24000000</valUSD>
        <pctVal>0.125401437924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</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>Braskem Idesa SAPI</name>
        <lei>YH0V7ZHY352ITDGEYB83</lei>
        <title>Braskem Idesa SAPI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP1850NAA92"/>
          <other otherDesc="Inhouse Asset ID" value="1025322"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353211.59000000</valUSD>
        <pctVal>0.097304746528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.45000000</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>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Brazil Government Bond</title>
        <cusip>105756CF5</cusip>
        <identifiers>
          <isin value="US105756CF53"/>
          <other otherDesc="Inhouse Asset ID" value="1246248"/>
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        <balance>730000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>722727.04000000</valUSD>
        <pctVal>0.199100973545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Seagate Data Storage Technology Pte. Ltd.</name>
        <lei>N/A</lei>
        <title>Seagate Data Storage Technology Pte. Ltd.</title>
        <cusip>81180LAR6</cusip>
        <identifiers>
          <isin value="US81180LAR69"/>
          <other otherDesc="Inhouse Asset ID" value="1491750"/>
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        <balance>339000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>382068.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.62500000</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>Stonex Escrow Issuer LLC</name>
        <lei>N/A</lei>
        <title>Stonex Escrow Issuer LLC</title>
        <cusip>86189AAA7</cusip>
        <identifiers>
          <isin value="US86189AAA79"/>
          <other otherDesc="Inhouse Asset ID" value="1489934"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254671.67000000</valUSD>
        <pctVal>0.070158406459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</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>Madison IAQ LLC</name>
        <lei>549300IXDNBXNHUPBU73</lei>
        <title>Madison IAQ LLC, First Lien, Initial CME Term Loan</title>
        <cusip>55759VAB4</cusip>
        <identifiers>
          <isin value="US55759VAB45"/>
          <other otherDesc="Inhouse Asset ID" value="1149752"/>
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        <balance>439294.81450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>440070.17000000</valUSD>
        <pctVal>0.121233044325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3136B66Y43"/>
          <other otherDesc="Inhouse Asset ID" value="1295600"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arcosa, Inc.</name>
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          <isin value="US039653AC46"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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        <balance>15000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
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          <isin value="US195325EL56"/>
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        <balance>1240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1274100.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA Connecticut Avenue Securities Trust, Series 2016-C04, Class 1B</title>
        <cusip>30711XDB7</cusip>
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          <isin value="US30711XDB73"/>
          <other otherDesc="Inhouse Asset ID" value="1208458"/>
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        <balance>264753.67000000</balance>
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        <curCd>USD</curCd>
        <valUSD>284983.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.71448880</annualizedRt>
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      <invstOrSec>
        <name>XHR LP</name>
        <lei>549300M88BPT83ZL2164</lei>
        <title>XHR LP</title>
        <cusip>98372MAE5</cusip>
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          <isin value="US98372MAE57"/>
          <other otherDesc="Inhouse Asset ID" value="1419121"/>
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        <balance>395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>401962.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="17931"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>1297.01000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>UBS AG</counterpartyName>
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            <amtCurSold>540300.00000000</amtCurSold>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>F&amp;G Annuities &amp; Life, Inc.</name>
        <lei>N/A</lei>
        <title>F&amp;G Annuities &amp; Life, Inc.</title>
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          <isin value="US30190AAC80"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>460651.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.40000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ACA1</cusip>
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          <isin value="US87264ACA16"/>
          <other otherDesc="Inhouse Asset ID" value="1148154"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472048.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chefs' Warehouse, Inc. (The)</name>
        <lei>549300JYEDC8C547E980</lei>
        <title>Chefs' Warehouse, Inc. (The)</title>
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          <isin value="US163086AE15"/>
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        <balance>88000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>143968.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="21438"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>5493002KQF9IH3CTQZ40</lei>
        <title>FNMA Multi-family Connecticut Avenue Securities Trust, Series 2020-01, Class M10</title>
        <cusip>62548QAD3</cusip>
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          <isin value="US62548QAD34"/>
          <other otherDesc="Inhouse Asset ID" value="1292156"/>
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        <balance>1434127.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1473935.90000000</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>
          <annualizedRt>8.21449080</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Progress Software Corp.</name>
        <lei>549300R65B3JG6972S24</lei>
        <title>Progress Software Corp.</title>
        <cusip>743312AD2</cusip>
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          <isin value="US743312AD29"/>
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        <balance>124000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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            <dbtSecRefInstrument>
              <name>Progress Software Corp.</name>
              <title>Progress Software Corp.</title>
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      <invstOrSec>
        <name>GA Global Funding Trust</name>
        <lei>54930029I8ROQ4OROZ88</lei>
        <title>GA Global Funding Trust</title>
        <cusip>36143L2N4</cusip>
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          <isin value="US36143L2N47"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498382.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</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>Republic of Cote d'Ivoire</name>
        <lei>254900ICW11T82O6H590</lei>
        <title>Ivory Coast Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2264871828"/>
          <other otherDesc="Inhouse Asset ID" value="1189930"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
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        <pctVal>0.349738420660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
        <cusip>21H042687</cusip>
        <identifiers>
          <isin value="US21H0426872"/>
          <other otherDesc="Inhouse Asset ID" value="1372107"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2372985.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fortress Intermediate 3, Inc.</name>
        <lei>N/A</lei>
        <title>Fortress Intermediate 3, Inc., First Lien, CME Term Loan, B</title>
        <cusip>34966LAD6</cusip>
        <identifiers>
          <isin value="US34966LAD64"/>
          <other otherDesc="Inhouse Asset ID" value="1490178"/>
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        <balance>403982.41210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405244.86000000</valUSD>
        <pctVal>0.111639168987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.32229000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FMC Corp.</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp.</title>
        <cusip>302491AZ8</cusip>
        <identifiers>
          <isin value="US302491AZ88"/>
          <other otherDesc="Inhouse Asset ID" value="1474302"/>
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        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274627.98000000</valUSD>
        <pctVal>0.075656084738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Builders FirstSource, Inc.</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>Builders FirstSource, Inc.</title>
        <cusip>12008RAT4</cusip>
        <identifiers>
          <isin value="US12008RAT41"/>
          <other otherDesc="Inhouse Asset ID" value="1469202"/>
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        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>138584.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912797MS3</cusip>
        <identifiers>
          <isin value="US912797MS31"/>
          <other otherDesc="Inhouse Asset ID" value="1401672"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2580995.95000000</valUSD>
        <pctVal>0.711027508203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-02</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.</name>
        <lei>N/A</lei>
        <title>Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3068797078"/>
          <other otherDesc="Inhouse Asset ID" value="1471660"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
        <valUSD>119232.10000000</valUSD>
        <pctVal>0.032846740019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Turkiye (The)</name>
        <lei>5493000PCHOG3B6S3Q85</lei>
        <title>Turkiye Government Bond</title>
        <cusip>900123DJ6</cusip>
        <identifiers>
          <isin value="US900123DJ66"/>
          <other otherDesc="Inhouse Asset ID" value="1295876"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>668432.95000000</valUSD>
        <pctVal>0.184143727478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>549300Y6KOVOWQ8OJC33</lei>
        <title>FHLMC STACR Trust, Series 2019-DNA2, Class B2</title>
        <cusip>35564LBE6</cusip>
        <identifiers>
          <isin value="US35564LBE65"/>
          <other otherDesc="Inhouse Asset ID" value="1208114"/>
        </identifiers>
        <balance>252000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296650.97000000</valUSD>
        <pctVal>0.081723103829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.96449080</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H16, Class IG</title>
        <cusip>38375UF88</cusip>
        <identifiers>
          <isin value="US38375UF884"/>
          <other otherDesc="Inhouse Asset ID" value="1295586"/>
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        <balance>6093767.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155074.20000000</valUSD>
        <pctVal>0.042720726474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.46917080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1396436"/>
        </identifiers>
        <balance>4605400.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>113755.25000000</valUSD>
        <pctVal>0.031337946095</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>4.22500000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-11-23</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-122041.23000000</unrealizedAppr>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Chile</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government Bond</title>
        <cusip>168863EB0</cusip>
        <identifiers>
          <isin value="US168863EB04"/>
          <other otherDesc="Inhouse Asset ID" value="1322749"/>
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        <balance>520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>527540.00000000</valUSD>
        <pctVal>0.145329732763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="21361"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>441.04000000</valUSD>
        <pctVal>0.000121500218</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Westpac Banking</counterpartyName>
              <counterpartyLei>EN5TNI6CI43VEPAMHL14</counterpartyLei>
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            <amtCurSold>30200.00000000</amtCurSold>
            <curSold>AUD</curSold>
            <amtCurPur>19876.49000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-10-15</settlementDt>
            <unrealizedAppr>441.04000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dexcom, Inc.</name>
        <lei>549300YSK3QDSFR5EU59</lei>
        <title>Dexcom, Inc.</title>
        <cusip>252131AM9</cusip>
        <identifiers>
          <isin value="US252131AM94"/>
          <other otherDesc="Inhouse Asset ID" value="1261982"/>
        </identifiers>
        <balance>248000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231136.00000000</valUSD>
        <pctVal>0.063674665640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Dexcom, Inc.</name>
              <title>Dexcom, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="252131107"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="6.15710100" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1440953"/>
        </identifiers>
        <balance>4030200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148979.00000000</valUSD>
        <pctVal>0.041041585960</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>MIZUHO CAPITAL MARKETS LLC</counterpartyName>
              <counterpartyLei>OV6W8S6QX2D1J857QP30</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>4.38400000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2028-01-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-36611.71000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
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        <name>Waystar Technologies, Inc.</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>COMM Mortgage Trust</name>
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        <name>FHLMC</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Alnylam Pharmaceuticals, Inc.</name>
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              <title>Alnylam Pharmaceuticals, Inc.</title>
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        <name>GNMA</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Gray Media, Inc.</name>
        <lei>529900TM5726KDN7UU35</lei>
        <title>Gray Media, Inc., First Lien, CME Term Loan, D</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Weekley Homes LLC / Weekley Finance Corp.</name>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H20, Class AI</title>
        <cusip>38376RFF8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Parsons Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Genesee &amp; Wyoming, Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Ameren Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dun &amp; Bradstreet Corp. (The)</name>
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        <name>N/A</name>
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        <name>FNMA</name>
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        <name>Aker BP ASA</name>
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        <name>FHLMC</name>
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        <name>N/A</name>
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        <name>Energy Transfer LP</name>
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        <name>BANK</name>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO Funding USA LLC</name>
        <lei>549300WEQ09INLYV6558</lei>
        <title>ABN AMRO Funding USA LLC</title>
        <cusip>00084BW34</cusip>
        <identifiers>
          <isin value="US00084BW345"/>
          <other otherDesc="Inhouse Asset ID" value="1469984"/>
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        <balance>1850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1842322.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-03</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust, Series 2018-C8, Class C</title>
        <cusip>46591ABG9</cusip>
        <identifiers>
          <isin value="US46591ABG94"/>
          <other otherDesc="Inhouse Asset ID" value="1292547"/>
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        <balance>402000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358457.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75621200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New Economy Assets Phase 1 Sponsor LLC</name>
        <lei>N/A</lei>
        <title>New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class A1</title>
        <cusip>643821AA9</cusip>
        <identifiers>
          <isin value="US643821AA93"/>
          <other otherDesc="Inhouse Asset ID" value="1171772"/>
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        <balance>546000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449729.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.91000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Prime Security Services Borrower LLC / Prime Finance, Inc.</name>
        <lei>N/A</lei>
        <title>Prime Security Services Borrower LLC / Prime Finance, Inc.</title>
        <cusip>74166MAE6</cusip>
        <identifiers>
          <isin value="US74166MAE66"/>
          <other otherDesc="Inhouse Asset ID" value="1188275"/>
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        <balance>455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>455429.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H20, Class CI</title>
        <cusip>38376RFK7</cusip>
        <identifiers>
          <isin value="US38376RFK77"/>
          <other otherDesc="Inhouse Asset ID" value="1292960"/>
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        <balance>2659140.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123309.66000000</valUSD>
        <pctVal>0.033970049541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-08-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.81136960</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>CSAIL</name>
        <lei>549300D5DIOOMKWXVZ20</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2015-C2, Class B</title>
        <cusip>12634NAY4</cusip>
        <identifiers>
          <isin value="US12634NAY40"/>
          <other otherDesc="Inhouse Asset ID" value="1292104"/>
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        <balance>471000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>457652.24000000</valUSD>
        <pctVal>0.126076653406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.20789960</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300V2DF3KW9L1CV04</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class D</title>
        <cusip>94988QAU5</cusip>
        <identifiers>
          <isin value="US94988QAU58"/>
          <other otherDesc="Inhouse Asset ID" value="1292273"/>
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        <balance>356000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202033.56000000</valUSD>
        <pctVal>0.055657359222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.78776520</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F030686</cusip>
        <identifiers>
          <isin value="US01F0306864"/>
          <other otherDesc="Inhouse Asset ID" value="1492489"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1711928.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="17841"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>2316.75000000</valUSD>
        <pctVal>0.000638231524</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank</counterpartyName>
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            <amtCurSold>965500.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1107500.91000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-09-17</settlementDt>
            <unrealizedAppr>2316.75000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chevy Chase Funding LLC Mortgage-Backed Certificates</name>
        <lei>5493000OPBL8EFF3O717</lei>
        <title>Chevy Chase Funding LLC, Series 2006-4A, Class A2</title>
        <cusip>16678XAB0</cusip>
        <identifiers>
          <isin value="US16678XAB01"/>
          <other otherDesc="Inhouse Asset ID" value="1292684"/>
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        <balance>422130.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373427.29000000</valUSD>
        <pctVal>0.102873883046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.64671080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Montenegro</name>
        <lei>747800V014106FYLL014</lei>
        <title>Montenegro Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3037625400"/>
          <other otherDesc="Inhouse Asset ID" value="1456947"/>
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        <balance>490000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87627059"/>
        <valUSD>554338.94000000</valUSD>
        <pctVal>0.152712457843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ME</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1477666"/>
        </identifiers>
        <balance>442000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-2934.39000000</valUSD>
        <pctVal>-0.00080838251</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTL</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BBB-11</indexName>
                <indexIdentifier>137BERAK3</indexIdentifier>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Receipt of notional amount upon default event with regard to the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.00000000"/>
            <terminationDt>2054-11-18</terminationDt>
            <upfrontPmnt>57018.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>442000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-2934.39000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OSI Systems, Inc.</name>
        <lei>DDX3MPX1Y8YD30050X33</lei>
        <title>OSI Systems, Inc.</title>
        <cusip>671044AE5</cusip>
        <identifiers>
          <isin value="US671044AE59"/>
          <other otherDesc="Inhouse Asset ID" value="1374665"/>
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        <balance>109000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145682.42000000</valUSD>
        <pctVal>0.040133425270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>OSI Systems, Inc.</name>
              <title>OSI Systems, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="671044105"/>
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          <currencyInfos>
            <currencyInfo convRatio="5.20900100" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
        <cusip>42704LAF1</cusip>
        <identifiers>
          <isin value="US42704LAF13"/>
          <other otherDesc="Inhouse Asset ID" value="1473660"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82732.85000000</valUSD>
        <pctVal>0.022791718128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mizuho Bank Ltd.</name>
        <lei>RB0PEZSDGCO3JS6CEU02</lei>
        <title>Mizuho Bank Ltd.</title>
        <cusip>60710TA43</cusip>
        <identifiers>
          <isin value="US60710TA431"/>
          <other otherDesc="Inhouse Asset ID" value="1442600"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2000047.60000000</valUSD>
        <pctVal>0.550984538087</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.57999920</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>VICI Properties LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
        <cusip>925650AC7</cusip>
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        <name>CMS Energy Corp.</name>
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        <name>Benin Government International Bond</name>
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        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
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        <name>GNMA</name>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>MORGAN STANLEY INTL PLC</counterpartyName>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Datadog, Inc.</name>
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        <title>Datadog, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WestJet Loyalty LP</name>
        <lei>N/A</lei>
        <title>WestJet Loyalty LP, First Lien, Initial CME Term Loan</title>
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        <curCd>USD</curCd>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-14</maturityDt>
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      <invstOrSec>
        <name>Standard Building Solutions, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Building Solutions, Inc.</title>
        <cusip>853191AC8</cusip>
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          <isin value="US853191AC80"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>272780.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
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        <balance>442000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-715.24000000</valUSD>
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        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>GOLDMAN SACHS INTL</counterpartyName>
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                <indexName>Markit CMBX North American Index Series BBB-13</indexName>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2012-140, Class IC</title>
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          <isin value="US38378GHA94"/>
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        <curCd>USD</curCd>
        <valUSD>268339.97000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2014-GC24, Class B</title>
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          <isin value="US36253GAK85"/>
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        <balance>1080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1017138.06000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS AG</name>
        <lei>254900R882POXXVAK772</lei>
        <title>UBS AG</title>
        <cusip>22550L2M2</cusip>
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          <isin value="US22550L2M24"/>
          <other otherDesc="Inhouse Asset ID" value="1232934"/>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>284722.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>DBUBS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>DBUBS Mortgage Trust, Series 2011-LC3A, Class D</title>
        <cusip>23305YAM1</cusip>
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          <isin value="US23305YAM12"/>
          <other otherDesc="Inhouse Asset ID" value="1292545"/>
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        <balance>442085.89450000</balance>
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        <curCd>USD</curCd>
        <valUSD>424820.45000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-10</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Istanbul Metropolitan Municipality</name>
        <lei>213800T1VDQSNKA2MD76</lei>
        <title>Istanbul Metropolitan Municipality</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2730249997"/>
          <other otherDesc="Inhouse Asset ID" value="1313182"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>704483.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>Encore Capital Group, Inc.</name>
        <lei>5493000UVC6H49CIH830</lei>
        <title>Encore Capital Group, Inc.</title>
        <cusip>292554AQ5</cusip>
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          <isin value="US292554AQ52"/>
          <other otherDesc="Inhouse Asset ID" value="1339717"/>
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        <balance>555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>585242.48000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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      <invstOrSec>
        <name>Guidewire Software, Inc.</name>
        <lei>549300WXSG0J8IXZCK32</lei>
        <title>Guidewire Software, Inc.</title>
        <cusip>40171VAB6</cusip>
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        <balance>201000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>230949.00000000</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>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
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              <name>Guidewire Software, Inc.</name>
              <title>Guidewire Software, Inc.</title>
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          <currencyInfos>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="17943"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-46543.18000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bentley Systems, Inc.</name>
        <lei>549300WVEHPGE0Z56F71</lei>
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        <fairValLevel>2</fairValLevel>
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          <currencyInfos>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>WaMu Mortgage-Backed Pass-Through Certificates Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Filtration Group Corp.</name>
        <lei>549300ZA0D9WN5ECE978</lei>
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          <isin value="US31732FAV85"/>
          <other otherDesc="Inhouse Asset ID" value="1442753"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3140JUFY5</cusip>
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          <isin value="US3140JUFY52"/>
          <other otherDesc="Inhouse Asset ID" value="1296715"/>
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        <balance>37643.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37411.49000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US38375U6A37"/>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>N/A</cusip>
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          <isin value="USP3579ECB13"/>
          <other otherDesc="Inhouse Asset ID" value="1060270"/>
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        <curCd>USD</curCd>
        <valUSD>1632000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-19</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-42</title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Patrick Industries, Inc.</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries, Inc.</title>
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              <title>Patrick Industries, Inc.</title>
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        <name>N/A</name>
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        <title>IRS</title>
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      <invstOrSec>
        <name>McAfee Corp.</name>
        <lei>2549009UKR8UEZYVCR93</lei>
        <title>McAfee Corp., First Lien, CME Term Loan, B1</title>
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      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H06, Class DI</title>
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          <isin value="US38376RSF46"/>
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        <balance>3649929.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127572.34000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.74426840</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc., First Lien, CME Term Loan, B1</title>
        <cusip>12768EAH9</cusip>
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          <isin value="US12768EAH99"/>
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        <balance>488812.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>488873.60000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.60624000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class D</title>
        <cusip>17323CAN7</cusip>
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          <isin value="US17323CAN74"/>
          <other otherDesc="Inhouse Asset ID" value="1292193"/>
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        <balance>1095939.11290000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1054568.51000000</valUSD>
        <pctVal>0.290518557340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.39638120</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>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1396274"/>
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        <balance>319000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43749.02000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>CITIBANK NA</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BB-10</indexName>
                <indexIdentifier>137BEMAI9</indexIdentifier>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Receipt of notional amount upon default event with regard to the reference instrument</otherRecDesc>
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            <terminationDt>2059-11-17</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>319000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>43749.02000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3140JKL87</cusip>
        <identifiers>
          <isin value="US3140JKL870"/>
          <other otherDesc="Inhouse Asset ID" value="1296402"/>
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        <balance>4439.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4448.54000000</valUSD>
        <pctVal>0.001225509211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Constellation Energy Generation LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
        <title>Constellation Energy Generation LLC</title>
        <cusip>210385AB6</cusip>
        <identifiers>
          <isin value="US210385AB64"/>
          <other otherDesc="Inhouse Asset ID" value="1241515"/>
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        <balance>445000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>458384.72000000</valUSD>
        <pctVal>0.126278441180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</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>Six Flags Entertainment Corp.</name>
        <lei>529900AS2CYWYFHRS781</lei>
        <title>Six Flags Entertainment Corp.</title>
        <cusip>83001AAD4</cusip>
        <identifiers>
          <isin value="US83001AAD46"/>
          <other otherDesc="Inhouse Asset ID" value="1294101"/>
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        <balance>610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>622176.82000000</valUSD>
        <pctVal>0.171400824548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>
        <name>Aris Water Holdings LLC</name>
        <lei>5493007AWQW8ZKCHVV46</lei>
        <title>Aris Water Holdings LLC</title>
        <cusip>04041NAA0</cusip>
        <identifiers>
          <isin value="US04041NAA00"/>
          <other otherDesc="Inhouse Asset ID" value="1452922"/>
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        <balance>460000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472138.48000000</valUSD>
        <pctVal>0.130067405553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>Nationstar Mortgage Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>Nationstar Mortgage Holdings, Inc.</title>
        <cusip>63861CAE9</cusip>
        <identifiers>
          <isin value="US63861CAE93"/>
          <other otherDesc="Inhouse Asset ID" value="1173054"/>
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        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1113102.10000000</valUSD>
        <pctVal>0.306643725085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 5011, Class SA</title>
        <cusip>3137FVT28</cusip>
        <identifiers>
          <isin value="US3137FVT288"/>
          <other otherDesc="Inhouse Asset ID" value="1297031"/>
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        <balance>6969938.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>903336.83000000</valUSD>
        <pctVal>0.248856390225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.78551000</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>Putnam Funds Trust</name>
        <lei>549300S9JYWEMKQCLW53</lei>
        <title>Putnam Short Term Investment Fund, Class P</title>
        <cusip>74676P664</cusip>
        <identifiers>
          <isin value="US74676P6640"/>
          <other otherDesc="Inhouse Asset ID" value="1319393"/>
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        <balance>17903158.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17903158.25000000</valUSD>
        <pctVal>4.932064306209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F040685</cusip>
        <identifiers>
          <isin value="US01F0406854"/>
          <other otherDesc="Inhouse Asset ID" value="1492490"/>
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        <balance>-1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-922439.56000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2017-H11, Class DI</title>
        <cusip>38376R4R4</cusip>
        <identifiers>
          <isin value="US38376R4R42"/>
          <other otherDesc="Inhouse Asset ID" value="1295976"/>
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        <balance>3011452.38000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149365.03000000</valUSD>
        <pctVal>0.041147931709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-05-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.09007000</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>FHLMC</name>
        <lei>5493000ITF7RKPWPZQ19</lei>
        <title>FHLMC STACR REMIC Trust, Series 2020-DNA5, Class B2</title>
        <cusip>35566ABE8</cusip>
        <identifiers>
          <isin value="US35566ABE82"/>
          <other otherDesc="Inhouse Asset ID" value="1284781"/>
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        <balance>491000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>682047.71000000</valUSD>
        <pctVal>0.187894399337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>15.85001160</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>Seagate Data Storage Technology Pte. Ltd.</name>
        <lei>N/A</lei>
        <title>Seagate Data Storage Technology Pte. Ltd.</title>
        <cusip>81180LAA3</cusip>
        <identifiers>
          <isin value="US81180LAA35"/>
          <other otherDesc="Inhouse Asset ID" value="1472463"/>
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        <balance>330000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334191.66000000</valUSD>
        <pctVal>0.092065027561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>5493000ITAM9GTFUKP51</lei>
        <title>FHLMC STACR REMIC Trust, Series 2020-HQA3, Class B2</title>
        <cusip>35565MBE3</cusip>
        <identifiers>
          <isin value="US35565MBE30"/>
          <other otherDesc="Inhouse Asset ID" value="1292983"/>
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        <balance>1027000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1354514.92000000</valUSD>
        <pctVal>0.373149507805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.46449040</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>Fluor Corp.</name>
        <lei>CQ7WZ4NOFWT7FAE6Q943</lei>
        <title>Fluor Corp.</title>
        <cusip>343412AJ1</cusip>
        <identifiers>
          <isin value="US343412AJ13"/>
          <other otherDesc="Inhouse Asset ID" value="1285829"/>
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        <name>GNMA</name>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Axon Enterprise, Inc.</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>Axon Enterprise, Inc.</title>
        <cusip>05464CAB7</cusip>
        <identifiers>
          <isin value="US05464CAB72"/>
          <other otherDesc="Inhouse Asset ID" value="1318234"/>
        </identifiers>
        <balance>33000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109142.98000000</valUSD>
        <pctVal>0.030067331607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Axon Enterprise, Inc.</name>
              <title>Axon Enterprise, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="05464C101"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="4.37199900" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Exact Sciences Corp.</name>
        <lei>549300VM3X1FYD4N9Z14</lei>
        <title>Exact Sciences Corp.</title>
        <cusip>30063PAE5</cusip>
        <identifiers>
          <isin value="US30063PAE51"/>
          <other otherDesc="Inhouse Asset ID" value="1393924"/>
        </identifiers>
        <balance>226000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200349.00000000</valUSD>
        <pctVal>0.055193287010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Exact Sciences Corp.</name>
              <title>Exact Sciences Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="30063P105"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="10.06440200" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KCY4</cusip>
        <identifiers>
          <isin value="US65339KCY47"/>
          <other otherDesc="Inhouse Asset ID" value="1336190"/>
        </identifiers>
        <balance>153000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>174879.00000000</valUSD>
        <pctVal>0.048176665913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>NextEra Energy, Inc.</name>
              <title>NextEra Energy, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="65339F101"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="14.69270200" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F042681</cusip>
        <identifiers>
          <isin value="US01F0426811"/>
          <other otherDesc="Inhouse Asset ID" value="1486780"/>
        </identifiers>
        <balance>-9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-8538553.17000000</valUSD>
        <pctVal>-2.35224940361</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virginia Electric and Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co., Series A</title>
        <cusip>927804GB4</cusip>
        <identifiers>
          <isin value="US927804GB45"/>
          <other otherDesc="Inhouse Asset ID" value="995882"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>945853.01000000</valUSD>
        <pctVal>0.260568990364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Magnera Corp.</name>
        <lei>549300LDQLQBT38QDY28</lei>
        <title>Magnera Corp.</title>
        <cusip>377320AA4</cusip>
        <identifiers>
          <isin value="US377320AA45"/>
          <other otherDesc="Inhouse Asset ID" value="1170728"/>
        </identifiers>
        <balance>505000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446818.04000000</valUSD>
        <pctVal>0.123091986099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL</name>
        <lei>N/A</lei>
        <title>JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL</title>
        <cusip>46590XAN6</cusip>
        <identifiers>
          <isin value="US46590XAN66"/>
          <other otherDesc="Inhouse Asset ID" value="1288092"/>
        </identifiers>
        <balance>244000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231245.82000000</valUSD>
        <pctVal>0.063704919481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FirstCash, Inc.</name>
        <lei>549300V2X3UU7K0DG350</lei>
        <title>FirstCash, Inc.</title>
        <cusip>33767DAD7</cusip>
        <identifiers>
          <isin value="US33767DAD75"/>
          <other otherDesc="Inhouse Asset ID" value="1330047"/>
        </identifiers>
        <balance>814000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>835452.97000000</valUSD>
        <pctVal>0.230155356687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1461716"/>
        </identifiers>
        <balance>-16330600.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1729.10000000</valUSD>
        <pctVal>-0.00047634234</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>MIZUHO CAPITAL MARKETS LLC</counterpartyName>
              <counterpartyLei>OV6W8S6QX2D1J857QP30</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>4.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>51440.30000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1440939"/>
        </identifiers>
        <balance>4030200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>166783.64000000</valUSD>
        <pctVal>0.045946509896</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swaption" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>MIZUHO CAPITAL MARKETS LLC</counterpartyName>
              <counterpartyLei>OV6W8S6QX2D1J857QP30</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Swaption</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>3.88400000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2028-01-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-11351.20000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ambipar Lux SARL</name>
        <lei>9845008C0E14F9BDEK55</lei>
        <title>Ambipar Lux SARL</title>
        <cusip>02319WAB7</cusip>
        <identifiers>
          <isin value="US02319WAB72"/>
          <other otherDesc="Inhouse Asset ID" value="1440438"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>360942.40000000</valUSD>
        <pctVal>0.099434474229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Bonds</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1446817"/>
          <other otherDesc="Future Ticker" value="UXYU5 Comdty"/>
        </identifiers>
        <balance>-28.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-20828.00000000</valUSD>
        <pctVal>-0.00573781641</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Ultra Bonds</issueTitle>
                <identifiers>
                  <ticker value="UXYU5 Comdty"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-09-19</expDate>
            <notionalAmt>-3166187.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-20828.00000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1953057061"/>
          <other otherDesc="Inhouse Asset ID" value="1060274"/>
        </identifiers>
        <balance>930000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>940480.50000000</valUSD>
        <pctVal>0.259088940619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.60030000</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>Bausch + Lomb Corp.</name>
        <lei>N/A</lei>
        <title>Bausch + Lomb Corp., First Lien, New CME Term Loan</title>
        <cusip>C0787FAG7</cusip>
        <identifiers>
          <isin value="XAC0787FAG72"/>
          <other otherDesc="Inhouse Asset ID" value="1297752"/>
        </identifiers>
        <balance>272834.56900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>273290.20000000</valUSD>
        <pctVal>0.075287545461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.35624000</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="22313"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>10271.74000000</valUSD>
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        <name>GNMA</name>
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        <name>GNMA</name>
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        <name>Hyundai Capital America</name>
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        <name>Nutanix, Inc.</name>
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        <name>Energo-Pro A/S</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Republic of Panama</name>
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          <isin value="US698299BX19"/>
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        <balance>780000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>837408.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>401251.11000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Digital Realty Trust LP</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>Digital Realty Trust LP</title>
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        <balance>258000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>272602.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Digital Realty Trust, Inc.</title>
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          <currencyInfos>
            <currencyInfo convRatio="4.79980000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2019-C52, Class XA</title>
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        <balance>6754781.80000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Carnival plc</name>
        <lei>4DR1VPDQMHD3N3QW8W95</lei>
        <title>Carnival plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS3111861244"/>
          <other otherDesc="Inhouse Asset ID" value="1492478"/>
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        <balance>300000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY INTL PLC</counterpartyName>
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      <invstOrSec>
        <name>ArcelorMittal SA</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ArcelorMittal SA</title>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>570010.45000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Outfront Media Capital LLC / Outfront Media Capital Corp.</name>
        <lei>N/A</lei>
        <title>Outfront Media Capital LLC / Outfront Media Capital Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>TGNR Intermediate Holdings LLC</name>
        <lei>5493007AZNVKZ5HEMT23</lei>
        <title>TGNR Intermediate Holdings LLC</title>
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          <isin value="US77289KAA34"/>
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        <balance>476000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>464058.35000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
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        <balance>498000.00000000</balance>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4839, Class WS</title>
        <cusip>3137FJK99</cusip>
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        <balance>4324829.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>592548.71000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
        <cusip>3617LEXM1</cusip>
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        <curCd>USD</curCd>
        <valUSD>18402.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Fertitta Entertainment LLC</name>
        <lei>N/A</lei>
        <title>Fertitta Entertainment LLC, First Lien, Initial CME Term Loan, B</title>
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          <other otherDesc="Inhouse Asset ID" value="1337023"/>
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        <balance>467660.46500000</balance>
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        <curCd>USD</curCd>
        <valUSD>468584.09000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Miter Brands Acquisition Holdco, Inc. / MIWD Borrower LLC</name>
        <lei>N/A</lei>
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          <isin value="US60672JAA79"/>
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        <balance>455000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>38381W6R4</cusip>
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          <isin value="US38381W6R40"/>
          <other otherDesc="Inhouse Asset ID" value="1296182"/>
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        <balance>4054231.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437538.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.63487160</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US38376R2S43"/>
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        <balance>2548615.86000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96638.42000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>OneSky Flight LLC</name>
        <lei>549300PM6NEPXGG5B882</lei>
        <title>OneSky Flight LLC</title>
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        <balance>446000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Republic of the Philippines</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>Philippines Government Bond</title>
        <cusip>718286DG9</cusip>
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          <isin value="US718286DG92"/>
          <other otherDesc="Inhouse Asset ID" value="1439116"/>
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        <balance>790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>823161.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>780153BU5</cusip>
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          <isin value="US780153BU54"/>
          <other otherDesc="Inhouse Asset ID" value="1334889"/>
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        <balance>267000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274210.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-5C29, Class XA</title>
        <cusip>05555PAD4</cusip>
        <identifiers>
          <isin value="US05555PAD42"/>
          <other otherDesc="Inhouse Asset ID" value="1394311"/>
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        <balance>16430245.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>935866.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.59940800</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Station Casinos LLC</name>
        <lei>5493004E7Q60TX54WL62</lei>
        <title>Station Casinos LLC</title>
        <cusip>857691AH2</cusip>
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          <isin value="US857691AH24"/>
          <other otherDesc="Inhouse Asset ID" value="1188686"/>
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        <balance>625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>585289.06000000</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AES Andes SA</name>
        <lei>549300IF4IFG0FS0RM26</lei>
        <title>AES Andes SA</title>
        <cusip>00111VAD9</cusip>
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          <isin value="US00111VAD91"/>
          <other otherDesc="Inhouse Asset ID" value="1452903"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>407146.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc., First Lien, CME Term Loan, B2</title>
        <cusip>74839XAK5</cusip>
        <identifiers>
          <isin value="US74839XAK54"/>
          <other otherDesc="Inhouse Asset ID" value="1340820"/>
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        <balance>453094.16240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453769.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.60624000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="17820"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Flash Charm, Inc.</name>
        <lei>N/A</lei>
        <title>Flash Charm, Inc., First Lien, CME Term Loan, B2</title>
        <cusip>45168RAT0</cusip>
        <identifiers>
          <isin value="US45168RAT05"/>
          <other otherDesc="Inhouse Asset ID" value="1363106"/>
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        <balance>435593.12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409808.19000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.77592000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Seagate HDD Cayman</name>
        <lei>529900BD50TRWEG1SF63</lei>
        <title>Seagate HDD Cayman</title>
        <cusip>81180WBL4</cusip>
        <identifiers>
          <isin value="US81180WBL46"/>
          <other otherDesc="Inhouse Asset ID" value="1297343"/>
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        <balance>171000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>331804.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Seagate Technology Holdings PLC</name>
              <title>Seagate Technology Holdings PLC</title>
              <curCd>USD</curCd>
              <identifiers>
                <isin value="IE00BKVD2N49"/>
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          <currencyInfos>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Black Diamond CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Black Diamond CLO Ltd., Series 2024-1A, Class D1</title>
        <cusip>09204UAG3</cusip>
        <identifiers>
          <isin value="US09204UAG31"/>
          <other otherDesc="Inhouse Asset ID" value="1496633"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>914468.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.76845880</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>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1484166"/>
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        <balance>7244000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.38560000"/>
        <valUSD>64656.69000000</valUSD>
        <pctVal>0.017811994311</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LCH Clearnet</counterpartyName>
              <counterpartyLei>549300TXTCI7WVVJS380</counterpartyLei>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="REPO_CORRA" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.03000000"/>
            <terminationDt>2035-09-17</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>3316.30000000</upfrontRcpt>
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            <notionalAmt>7244000.00000000</notionalAmt>
            <curCd>CAD</curCd>
            <unrealizedAppr>64656.69000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H10, Class AI</title>
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          <isin value="US38376RUG90"/>
          <other otherDesc="Inhouse Asset ID" value="1292700"/>
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        <balance>4694650.22000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114164.50000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOP</title>
        <cusip>N/A</cusip>
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        <balance>92300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>333545.91000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BNP PARIBAS NY BRANCH</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                  <cusip value="N/A"/>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>3.85000000</exercisePrice>
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            <delta>XXXX</delta>
            <unrealizedAppr>-49499.09000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-C26, Class XA</title>
        <cusip>05555AAF2</cusip>
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          <isin value="US05555AAF21"/>
          <other otherDesc="Inhouse Asset ID" value="1389892"/>
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        <balance>5704997.02000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>412860.37000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.01332080</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cogent Communications Group LLC / Cogent Finance, Inc.</name>
        <lei>N/A</lei>
        <title>Cogent Communications Group LLC / Cogent Finance, Inc.</title>
        <cusip>19240WAB5</cusip>
        <identifiers>
          <isin value="US19240WAB54"/>
          <other otherDesc="Inhouse Asset ID" value="1483512"/>
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        <balance>530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520053.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEC US Holdings, Inc.</name>
        <lei>5493002M6GRSU1IWMG57</lei>
        <title>WEC US Holdings, Inc., First Lien, Initial CME Term Loan</title>
        <cusip>92943LAC4</cusip>
        <identifiers>
          <isin value="US92943LAC46"/>
          <other otherDesc="Inhouse Asset ID" value="1320866"/>
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        <balance>440550.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441358.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.57887000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2014-GC24, Class D</title>
        <cusip>36253GAS1</cusip>
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          <isin value="US36253GAS12"/>
          <other otherDesc="Inhouse Asset ID" value="1292230"/>
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        <balance>485000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309278.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.43995200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
        <cusip>3617LNR97</cusip>
        <identifiers>
          <isin value="US3617LNR973"/>
          <other otherDesc="Inhouse Asset ID" value="1295635"/>
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        <balance>157088.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139856.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Coinbase Global, Inc.</name>
        <lei>5493004G3J2SC154DU06</lei>
        <title>Coinbase Global, Inc.</title>
        <cusip>19260QAF4</cusip>
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          <isin value="US19260QAF46"/>
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        <balance>89000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123001.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Coinbase Global, Inc.</name>
              <title>Coinbase Global, Inc.</title>
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          <currencyInfos>
            <currencyInfo convRatio="2.99810000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
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          <other otherDesc="Inhouse Asset ID" value="1395077"/>
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        <balance>402000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>MERRILL LYNCH INTERNATIONAL</counterpartyName>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series A-13</indexName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2015-DC1, Class AM</title>
        <cusip>12629NAH8</cusip>
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          <isin value="US12629NAH89"/>
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        <balance>377411.43620000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>GSR Mortgage Loan Trust, Series 2007-OA1, Class 2A3A</title>
        <cusip>3622NAAE0</cusip>
        <identifiers>
          <isin value="US3622NAAE07"/>
          <other otherDesc="Inhouse Asset ID" value="1293178"/>
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        <balance>492104.65000000</balance>
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        <curCd>USD</curCd>
        <valUSD>272004.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="17826"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>1516.49000000</valUSD>
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        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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            <amtCurSold>315954.21000000</amtCurSold>
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            <amtCurPur>256400.00000000</amtCurPur>
            <curPur>CHF</curPur>
            <settlementDt>2025-09-17</settlementDt>
            <unrealizedAppr>1516.49000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Snowflake, Inc.</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>Snowflake, Inc.</title>
        <cusip>833445AA7</cusip>
        <identifiers>
          <isin value="US833445AA70"/>
          <other otherDesc="Inhouse Asset ID" value="1398639"/>
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        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334400.00000000</valUSD>
        <pctVal>0.092122422254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
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              <name>Snowflake, Inc.</name>
              <title>Snowflake, Inc.</title>
              <curCd>USD</curCd>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Spectrum Brands, Inc.</name>
        <lei>549300VU3EH2E73C1Q04</lei>
        <title>Spectrum Brands, Inc.</title>
        <cusip>84762LAZ8</cusip>
        <identifiers>
          <isin value="US84762LAZ85"/>
          <other otherDesc="Inhouse Asset ID" value="1359936"/>
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        <balance>72000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65412.00000000</valUSD>
        <pctVal>0.018020071424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Phoenix Newco, Inc.</name>
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        <name>Verisure Midholding AB</name>
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        <name>FNMA</name>
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        <name>COMM Mortgage Trust</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Aircastle Ltd.</name>
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        <name>Transocean Poseidon Ltd.</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Ashtead Capital, Inc.</name>
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        <name>Carnival Corp.</name>
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        <name>Antero Resources Corp.</name>
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        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
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        <name>Air Lease Corp.</name>
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        <name>Vmed O2 UK Financing I plc</name>
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        <name>Bombardier, Inc.</name>
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        <name>Chart Industries, Inc.</name>
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        <name>Republic of Indonesia</name>
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        <title>Indonesia Government Bond</title>
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        <name>GNMA</name>
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        <name>N/A</name>
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        <name>Spirit AeroSystems, Inc.</name>
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        <title>Spirit AeroSystems, Inc.</title>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
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      <invstOrSec>
        <name>Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.</name>
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        <title>Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>549300UFJ8EKD81Y8R30</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2015-C1, Class AS</title>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>Southern Gas Corridor CJSC</name>
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        <invCountry>AZ</invCountry>
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        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>5493000F7E2NMQ4HIO61</lei>
        <title>WFRBS Commercial Mortgage Trust, Series 2014-C21, Class C</title>
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        <name>FNMA</name>
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        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Rocket Cos., Inc.</title>
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        <name>Vistra Operations Co. LLC</name>
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        <title>Vistra Operations Co. LLC</title>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2024-186</title>
        <cusip>38384XVG5</cusip>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
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        <valUSD>328692.04000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Osaic Holdings, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Republic of Guatemala</name>
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        <invCountry>GT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Liberty Media Corp.-Liberty Formula One Corp.</name>
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        <title>Liberty Media Corp.-Liberty Formula One Corp.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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      <invstOrSec>
        <name>Zegona Finance plc</name>
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        <title>Zegona Finance plc</title>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2021-116, Class ES</title>
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        <balance>6045579.43000000</balance>
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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>2047-11-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.74551040</annualizedRt>
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      <invstOrSec>
        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
        <cusip>651229BE5</cusip>
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        <balance>34000.00000000</balance>
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        <valUSD>32600.17000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Rivian Automotive, Inc.</name>
        <lei>25490004LNKJ84MFYY24</lei>
        <title>Rivian Automotive, Inc.</title>
        <cusip>76954AAB9</cusip>
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        <curCd>USD</curCd>
        <valUSD>120322.50000000</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>
          <annualizedRt>4.62500000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
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              <name>Rivian Automotive, Inc.</name>
              <title>Rivian Automotive, Inc.</title>
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      <invstOrSec>
        <name>Welltower OP LLC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower OP LLC</title>
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        <balance>109000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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              <title>Welltower, Inc.</title>
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          <currencyInfos>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Acrisure LLC / Acrisure Finance, Inc.</name>
        <lei>N/A</lei>
        <title>Acrisure LLC / Acrisure Finance, Inc.</title>
        <cusip>00489LAL7</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1364088"/>
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        <balance>435000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449676.47000000</valUSD>
        <pctVal>0.123879442725</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 304, Class C37</title>
        <cusip>31325UPS9</cusip>
        <identifiers>
          <isin value="US31325UPS95"/>
          <other otherDesc="Inhouse Asset ID" value="1293257"/>
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        <balance>47085.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>951.88000000</valUSD>
        <pctVal>0.000262229339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vertex, Inc.</name>
        <lei>549300QMYW171MP1PL50</lei>
        <title>Vertex, Inc.</title>
        <cusip>92538JAB2</cusip>
        <identifiers>
          <isin value="US92538JAB26"/>
          <other otherDesc="Inhouse Asset ID" value="1350652"/>
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        <balance>89000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102628.13000000</valUSD>
        <pctVal>0.028272583513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Vertex, Inc.</name>
              <title>Vertex, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ABV6</cusip>
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          <isin value="US87264ABV61"/>
          <other otherDesc="Inhouse Asset ID" value="1138593"/>
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        <balance>1820000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1748560.45000000</valUSD>
        <pctVal>0.481703421389</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <name>CPM Holdings, Inc.</name>
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        <name>Transocean Titan Financing Ltd.</name>
        <lei>N/A</lei>
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        <name>Viper Energy Partners LLC</name>
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        <name>Playtika Holding Corp.</name>
        <lei>254900E35Z4TKA4UFG64</lei>
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        <name>Verde Purchaser LLC</name>
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        <name>Southern Co. (The)</name>
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        <name>FHLMC</name>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Northwoods Capital 22 Ltd.</name>
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        <name>CACI International, Inc.</name>
        <lei>SYRPI2D1O9WRTS2WX210</lei>
        <title>CACI International, Inc.</title>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2024-V10, Class XA</title>
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        <name>Volkswagen Group of America Finance LLC</name>
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        <name>Veritiv Operating Co.</name>
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        <name>Boeing Co. (The)</name>
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        <name>FNMA</name>
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        <name>Cloudflare, Inc.</name>
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        <name>FHLMC Multifamily Structured Credit Risk</name>
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        <name>SG Commercial Mortgage Securities Trust</name>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
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        <title>TransDigm, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bausch + Lomb Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
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        <title>Caesars Entertainment, Inc.</title>
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        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US02146QAC78"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>CSC Holdings LLC</name>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>UKG, Inc.</name>
        <lei>529900FKHWSTQ1GXK240</lei>
        <title>UKG, Inc., First Lien, Initial CME Term Loan</title>
        <cusip>89841EAB1</cusip>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4000, Class PI</title>
        <cusip>3137ALYB9</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1292962"/>
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        <balance>268045.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36485.26000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="17937"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-249.65000000</valUSD>
        <pctVal>-0.00006877500</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Toronto Dominion Bank</counterpartyName>
              <counterpartyLei>PT3QB789TSUIDF371261</counterpartyLei>
            </counterparties>
            <amtCurSold>9330.37000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>1366800.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2025-08-20</settlementDt>
            <unrealizedAppr>-249.65000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lantheus Holdings, Inc.</name>
        <lei>5299005HUB5IOJGO7S39</lei>
        <title>Lantheus Holdings, Inc.</title>
        <cusip>516544AB9</cusip>
        <identifiers>
          <isin value="US516544AB96"/>
          <other otherDesc="Inhouse Asset ID" value="1227725"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118056.15000000</valUSD>
        <pctVal>0.032522782595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Lantheus Holdings, Inc.</name>
              <title>Lantheus Holdings, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="516544103"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="12.52909900" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waste Pro USA, Inc.</name>
        <lei>549300BY1QXU5BI3UF28</lei>
        <title>Waste Pro USA, Inc.</title>
        <cusip>94107JAC7</cusip>
        <identifiers>
          <isin value="US94107JAC71"/>
          <other otherDesc="Inhouse Asset ID" value="1435730"/>
        </identifiers>
        <balance>860000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>894454.18000000</valUSD>
        <pctVal>0.246409347061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F022683</cusip>
        <identifiers>
          <isin value="US01F0226831"/>
          <other otherDesc="Inhouse Asset ID" value="1492488"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4917230.34000000</valUSD>
        <pctVal>1.354626703661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1386941"/>
        </identifiers>
        <balance>27000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>682.79000000</valUSD>
        <pctVal>0.000188098889</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BBB-6</indexName>
                <indexIdentifier>137BERAF4</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Payout of notional amount upon default event with regard to the reference instrument</otherPmntDesc>
            <terminationDt>2063-05-11</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>1539.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>27000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>682.79000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397A86</cusip>
        <identifiers>
          <isin value="US345397A860"/>
          <other otherDesc="Inhouse Asset ID" value="1185246"/>
        </identifiers>
        <balance>290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>282626.04000000</valUSD>
        <pctVal>0.077859435995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>780153BV3</cusip>
        <identifiers>
          <isin value="US780153BV38"/>
          <other otherDesc="Inhouse Asset ID" value="1379224"/>
        </identifiers>
        <balance>548000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>557386.35000000</valUSD>
        <pctVal>0.153551975758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AE7</cusip>
        <identifiers>
          <isin value="US428102AE79"/>
          <other otherDesc="Inhouse Asset ID" value="1158141"/>
        </identifiers>
        <balance>590000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>571387.33000000</valUSD>
        <pctVal>0.157409045709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>N/A</name>
        <lei>N/A</lei>
        <title>CDSCMBX</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1395059"/>
        </identifiers>
        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-98881.04000000</valUSD>
        <pctVal>-0.02724031375</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>J P MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>ZBUT11V806EZRVTWT807</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CMBX North American Index Series BB-10</indexName>
                <indexIdentifier>137BEMAI9</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="5.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Payout of notional amount upon default event with regard to the reference instrument</otherPmntDesc>
            <terminationDt>2059-11-17</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>17251.21000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>215000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-98881.04000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <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>2025-09-02</ncom:dateSigned>
      <ncom:nameOfApplicant>Putnam Premier Income Trust</ncom:nameOfApplicant>
      <ncom:signature>Chris Beararducci</ncom:signature>
      <ncom:signerName>Chris Beararducci</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>