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          <isin value="US62984JAA60"/>
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        <balance>307000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306923.250000000000</valUSD>
        <pctVal>0.0217870790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.723000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Recoletos Re DAC</name>
        <lei>635400FIY9UG8ZHKYH56</lei>
        <title>Recoletos Re DAC 2024-1 Class A</title>
        <cusip>755933AA6</cusip>
        <identifiers>
          <isin value="US755933AA66"/>
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        <balance>501000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509016.000000000000</valUSD>
        <pctVal>0.0361327199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.253000000000</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>Residential Reinsurance 2025 Limited</name>
        <lei>N/A</lei>
        <title>Residential Re 2025-I Class 14</title>
        <cusip>76091DAB7</cusip>
        <identifiers>
          <isin value="US76091DAB73"/>
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        <balance>725000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>752550.000000000000</valUSD>
        <pctVal>0.0534200857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.485000000000</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>Residential Reinsurance 2024 Limited</name>
        <lei>N/A</lei>
        <title>Residential Re 2024-II Class 2</title>
        <cusip>76112AAC6</cusip>
        <identifiers>
          <isin value="US76112AAC62"/>
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        <balance>418000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>442641.100000000000</valUSD>
        <pctVal>0.0314210691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>17.093000000000</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>Residential Re 2021 Limited</name>
        <lei>N/A</lei>
        <title>Residential Re 2021-I Class 12</title>
        <cusip>76114NAB8</cusip>
        <identifiers>
          <isin value="US76114NAB82"/>
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        <balance>301000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165550.000000000000</valUSD>
        <pctVal>0.0117516380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.173000000000</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>Residential Re 2019 Ltd</name>
        <lei>N/A</lei>
        <title>Residential Re 2019-I Class 12</title>
        <cusip>76120FAA9</cusip>
        <identifiers>
          <isin value="US76120FAA93"/>
          <ticker value="RESID"/>
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        <balance>84166.670000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38257.960000000000</valUSD>
        <pctVal>0.0027157578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.173000000000</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>Residential Reinsurance 2023 Limited</name>
        <lei>N/A</lei>
        <title>Residential Re 2023-I Class 13</title>
        <cusip>76133XAA5</cusip>
        <identifiers>
          <isin value="US76133XAA54"/>
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        <balance>1887000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1037850.000000000000</valUSD>
        <pctVal>0.0736722291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.173000000000</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>Riverfront Re Ltd</name>
        <lei>N/A</lei>
        <title>Riverfront Re 2025 Class A</title>
        <cusip>76870YAF9</cusip>
        <identifiers>
          <isin value="US76870YAF97"/>
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        <balance>677000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>717653.850000000000</valUSD>
        <pctVal>0.0509429675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.173000000000</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>Mohonk (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Mohonk (Artex Segregated Account Company)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="MOHONK"/>
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        <balance>102.768000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58318575.170000000000</valUSD>
        <pctVal>4.1397691667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mulholland (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Mulholland (Artex Segregated Account Company)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="MULHOLLAND"/>
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        <balance>114.100000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126871.520000000000</valUSD>
        <pctVal>0.0090060295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Peregrine LCA (Peregrine Segregated Account)</name>
        <lei>N/A</lei>
        <title>Peregrine LCA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="PEREGRINELCA"/>
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        <balance>2252060.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40875258.340000000000</valUSD>
        <pctVal>2.9015478115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aragonite Re Ltd.</name>
        <lei>254900LF29LPMNPHA287</lei>
        <title>Aragonite Re 2024-1 Class A</title>
        <cusip>03851YAA7</cusip>
        <identifiers>
          <isin value="US03851YAA73"/>
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        <balance>627000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>644618.700000000000</valUSD>
        <pctVal>0.0457585360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.123000000000</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>Baldwin Re Ltd.</name>
        <lei>N/A</lei>
        <title>Baldwin Re 2025-1 Class A</title>
        <cusip>05826BAC0</cusip>
        <identifiers>
          <isin value="US05826BAC00"/>
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        <balance>1024000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044480.000000000000</valUSD>
        <pctVal>0.0741428625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.423000000000</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>Azzurro Re II</name>
        <lei>635400NZWVDIAI82JP08</lei>
        <title>Azzurro Re II DAC 2024-1 Class A</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2788028178"/>
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        <balance>628000.000000000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt=".843630000000"/>
        <valUSD>747863.640000000000</valUSD>
        <pctVal>0.0530874225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.276000000000</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>Acorn Re Ltd.</name>
        <lei>N/A</lei>
        <title>Acorn Re 2023-1 Class A</title>
        <cusip>00485YAD1</cusip>
        <identifiers>
          <isin value="US00485YAD13"/>
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        <balance>1096000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1113316.800000000000</valUSD>
        <pctVal>0.0790292724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.023000000000</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>Four Lakes Re Ltd.</name>
        <lei>549300MG4RRU6DT7MN54</lei>
        <title>Four Lakes Re 2023-1 Class A</title>
        <cusip>35087TAE8</cusip>
        <identifiers>
          <isin value="US35087TAE82"/>
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        <balance>314000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>317925.000000000000</valUSD>
        <pctVal>0.0225680430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.193000000000</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>Four Lakes Re Ltd.</name>
        <lei>549300MG4RRU6DT7MN54</lei>
        <title>Four Lakes Re 2024-1 Class B</title>
        <cusip>35087TAH1</cusip>
        <identifiers>
          <isin value="US35087TAH14"/>
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        <balance>341000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>346319.600000000000</valUSD>
        <pctVal>0.0245836459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>12.903000000000</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>Gateway Re Ltd.</name>
        <lei>549300ZYFWQV9RCIN520</lei>
        <title>Gateway Re 2025-1 Class AAA</title>
        <cusip>36779CAM8</cusip>
        <identifiers>
          <isin value="US36779CAM82"/>
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        <balance>419000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>419942.750000000000</valUSD>
        <pctVal>0.0298098169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.923000000000</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>Herbie Re Ltd.</name>
        <lei>N/A</lei>
        <title>Herbie Re 2024-2 Class B</title>
        <cusip>42703VAK9</cusip>
        <identifiers>
          <isin value="US42703VAK98"/>
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        <name>Herbie Re Ltd.</name>
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        <name>High Point Re Ltd.</name>
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        <name>Matterhorn Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>MetroCat Re Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Mona Lisa Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Ocelot Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>PoleStar Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Purple Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Sanders Re III Ltd.</name>
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        <name>Sanders Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>3264 Re Ltd.</name>
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        <name>Iseo (Artex Segregated Account Company)</name>
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        <name>Pelham (Horseshoe Re)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>IBRD</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>IBRD</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Acorn Re Ltd.</name>
        <lei>N/A</lei>
        <title>Acorn Re 2024-1 Class A</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Ashera Re Ltd.</name>
        <lei>N/A</lei>
        <title>Ashera Re 2024-1 Class A</title>
        <cusip>04401RAA5</cusip>
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        <name>Lion Re DAC</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Residential Reinsurance 2025 Limited</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Sanders Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Sanders Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Skyline Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Stabilitas Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>SR0006 (Horseshoe Re)</name>
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        <assetCat>EP</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Merna Re II Ltd</name>
        <lei>549300478X5RX87PYX60</lei>
        <title>Merna Re II 2023-1 Class A</title>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Merna Re II Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Mona Lisa Re Ltd.</name>
        <lei>549300R6SO6XBFDC7M25</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Montoya Re Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Mystic Re IV Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Nakama Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Nature Coast Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>MMIFS Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>MMIFS Re Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Vitality Re XV Limited</name>
        <lei>N/A</lei>
        <title>Vitality Re XV 2024 Class A</title>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Vitality Re XIV Limited</name>
        <lei>N/A</lei>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Wrigley Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Woodside (Horseshoe Re)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Alamo Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Blue Ridge Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Eden Re II Segregated Account 2023-1</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Everglades Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Everglades Re II Ltd.</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>FloodSmart Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Gateway Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>London Bridge 2 PCC Limited</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Matterhorn Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Meritage Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Merna Re II Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Merna Re II Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Merna Re II Ltd</name>
        <lei>549300478X5RX87PYX60</lei>
        <title>Merna Re II 2024-2 Class A</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Montoya Re Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Mystic Re IV Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US62865LAG23"/>
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        <curCd>USD</curCd>
        <valUSD>288951.300000000000</valUSD>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Mystic Re IV Ltd.</name>
        <lei>N/A</lei>
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        <balance>287000.000000000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Nature Coast Re Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US63901CAB72"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Nature Coast Re Ltd.</name>
        <lei>N/A</lei>
        <title>Nature Coast Re 2025-1 Class A</title>
        <cusip>63901CAD3</cusip>
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          <isin value="US63901CAD39"/>
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        <balance>1161000.000000000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Vitality Re XV Limited</name>
        <lei>N/A</lei>
        <title>Vitality Re XV 2024 Class B</title>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Florblanca (Artex Segregated Account Company)</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Harambee Re Segregated Account 2019-1</name>
        <lei>N/A</lei>
        <title>Harambee Re 2019</title>
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          <other otherDesc="USER DEFINED" value="HARAMBEE19"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Magnolia (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Magnolia (Artex Segregated Account Company)</title>
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          <other otherDesc="USER DEFINED" value="MAGNOLIA"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Integrity Re Ltd</name>
        <lei>N/A</lei>
        <title>Integrity Re 2024-1 Class B</title>
        <cusip>45833UAK7</cusip>
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          <isin value="US45833UAK79"/>
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        <curCd>USD</curCd>
        <valUSD>322291.500000000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Integrity Re Ltd</name>
        <lei>N/A</lei>
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          <isin value="US45833UAM36"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Integrity Re III Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Hudson Charles (Mt. Logan Re)</name>
        <lei>N/A</lei>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Aquila Re I Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US037987AB06"/>
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        <balance>299000.000000000000</balance>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Bayou Re Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>1886 Re Ltd.</name>
        <lei>N/A</lei>
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        <cusip>68252UAA3</cusip>
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          <isin value="US68252UAA34"/>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Everglades Re II Ltd.</name>
        <lei>5493000EE11S6ONK0372</lei>
        <title>Everglades Re II 2025-1 Class C</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Fish Pond Re Ltd.</name>
        <lei>N/A</lei>
        <title>Fish Pond Re 2024-1 Class A</title>
        <cusip>33774EAA2</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Herbie Re Ltd.</name>
        <lei>N/A</lei>
        <title>Herbie Re 2024-2 Class A</title>
        <cusip>42703VAJ2</cusip>
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        <balance>462000.000000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Kizuna Re III Pte. Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Emerald Lake (Artex Segregated Account Company)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Hudson Charles (Mt. Logan Re)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Sussex 2022-A Segregated Account (Sussex Re Limited)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Thopas Re Ltd. Segregated Account 2024-2 (S)</name>
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        <assetCat>EP</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Eiffel Re Ltd.</name>
        <lei>5493000KHTJQAOS8QP53</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Viribus Re Ltd. Series 2019 Segregated Account</name>
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        <title>Viribus Re 2019</title>
        <cusip>000000000</cusip>
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          <other otherDesc="USER DEFINED" value="VIRIBUS2019"/>
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        <balance>526335.810000000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Blue Ridge Re Ltd</name>
        <lei>N/A</lei>
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          <isin value="US096003AD00"/>
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        <balance>587000.000000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Blue Ridge Re Ltd</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Bluebonnet Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Bonanza Re Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Merna Re II Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Mountain Re Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Mystic Re IV Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Mystic Re IV Ltd.</name>
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        <name>Nature Coast Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Northshore Re II Limited</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Residential Reinsurance 2023 Limited</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Residential Reinsurance 2023 Limited</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Residential Reinsurance 2024 Limited</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Residential Reinsurance 2022 Limited</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Residential Reinsurance 2023 Limited</name>
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          <isin value="US76133XAB38"/>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Sanders Re III Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Sanders Re III Ltd.</name>
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          <isin value="US80000YAA55"/>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Solis Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Titania Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Tomoni Re Pte. Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Torrey Pines Re Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Torrey Pines Re Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Veraison Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Vitality Re XIV Limited</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Cypress (Horseshoe Re)</name>
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        <name>Excelsa Re Ltd. Segregated Account 6</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>POINT DUME LLP</name>
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        <name>Ursa Re Ltd.</name>
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        <title>Ursa Re 2025-1 Class F</title>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Hestia Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Alamo Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Armor Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Baldwin Re Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Bayou Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Blue Ridge Re Ltd.</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Bluebonnet Re Ltd.</name>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Cape Lookout Re Ltd.</name>
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        <title>Cape Lookout Re 2024-1 Class A</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Citrus Re Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>East Lane Re VII Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Foundation Re VI Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Gateway Re II Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Hestia Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Hestia Re Ltd.</name>
        <lei>549300QRKQ1ZKOXEMZ38</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Fuchsia 2023-1 (London Bridge 2 PCC Protected Cell)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Lower Ferry Re Ltd.</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Sabine Re Ltd.</name>
        <lei>254900FU1Z2XK88D3602</lei>
        <title>Sabine Re 2024-1 Class A</title>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Sanders Re II Ltd.</name>
        <lei>254900VRQU0N0MF3CT92</lei>
        <title>Sanders Re II 2025-1 Class B-2</title>
        <cusip>80001TAD9</cusip>
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        <balance>1854000.000000000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Sutter Re Ltd.</name>
        <lei>N/A</lei>
        <title>Sutter Re 2023-1 Class B</title>
        <cusip>86944RAE8</cusip>
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          <isin value="US86944RAE80"/>
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        <balance>1973000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1995689.500000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Torrey Pines Re Ltd</name>
        <lei>N/A</lei>
        <title>Torrey Pines Re 2024-1 Class A</title>
        <cusip>89141WAH5</cusip>
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          <isin value="US89141WAH51"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Torrey Pines Re Ltd</name>
        <lei>N/A</lei>
        <title>Torrey Pines Re 2025-1 Class C</title>
        <cusip>89141WAN2</cusip>
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          <isin value="US89141WAN20"/>
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        <balance>913000.000000000000</balance>
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        <curCd>USD</curCd>
        <valUSD>938746.600000000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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          <maturityDt>2028-06-07</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Turris Re Ltd.</name>
        <lei>254900AYLTVDMB8FO181</lei>
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        <cusip>900442AA2</cusip>
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          <isin value="US900442AA21"/>
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        <balance>687000.000000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Ursa Re Ltd.</name>
        <lei>549300O8X4DWGDJZ6W59</lei>
        <title>Ursa Re 2023-2 Class E</title>
        <cusip>90323WAN0</cusip>
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          <isin value="US90323WAN02"/>
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        <balance>2489000.000000000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-07</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Veraison Re Ltd.</name>
        <lei>2549007WYB39A966J434</lei>
        <title>Veraison Re 2024-1 Class A</title>
        <cusip>92335TAC3</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Windrose Re Ltd</name>
        <lei>N/A</lei>
        <title>Windrose Re 2026-1 Class A</title>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Hatteras (Artex Segregated Account Company)</name>
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        <title>Hatteras (Artex Segregated Account Company)</title>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Kensington</name>
        <lei>N/A</lei>
        <title>Kensington (Horseshoe Re)</title>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Seawall Re Ltd. Segregated Account 2025-B</name>
        <lei>N/A</lei>
        <title>Seawall Re Ltd 2025-B</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>SR0005 (Horseshoe Re)</name>
        <lei>N/A</lei>
        <title>SR0005 (Horseshoe Re)</title>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Aquila Re I Ltd.</name>
        <lei>N/A</lei>
        <title>Aquila Re I 2024-1 Class A-1</title>
        <cusip>037987AA2</cusip>
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          <isin value="US037987AA23"/>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Taranis Reinsurance DAC</name>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>London Bridge 2 PCC Limited</name>
        <lei>N/A</lei>
        <title>Vision 2039 2025-1 Class A</title>
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          <isin value="XS3019877813"/>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Bayou Re Ltd.</name>
        <lei>N/A</lei>
        <title>Bayou Re 2024-1 Class A</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Bridge Street Re Ltd</name>
        <lei>2549008NKPLMU6X7ID58</lei>
        <title>Bridge Street Re 2025-1 Class A</title>
        <cusip>10807LAA5</cusip>
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          <isin value="US10807LAA52"/>
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        <balance>1018000.000000000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-07</maturityDt>
          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Yoho (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Yoho (Artex Segregated Account Company)</title>
        <cusip>000000000</cusip>
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        <name>Greengrove Re Ltd.</name>
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        <name>Handshake Re Ltd.</name>
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        <name>Gateway Re Ltd.</name>
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        <name>Genesee Street Re Ltd.</name>
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        <name>Golden Bear Re Ltd.</name>
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        <name>Lightning Re Ltd.</name>
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        <name>Matterhorn Re Ltd.</name>
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        <name>Residential Reinsurance 2025 Limited</name>
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        <name>Titania Re Ltd.</name>
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        <name>Torrey Pines Re Ltd</name>
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        <name>Vitality Re XVII Ltd</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Winston Re Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Yosemite Re Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Trouvaille Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Hexagon IV Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>IBRD</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Yorkville (Artex Segregated Account Company)</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Palm Re Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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      <invstOrSec>
        <name>Purple Re Ltd.</name>
        <lei>N/A</lei>
        <title>Purple Re 2024-1 Class A</title>
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          <isin value="US74639NAC74"/>
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        <balance>2373000.000000000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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          <maturityDt>2027-06-07</maturityDt>
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        <name>Residential Reinsurance 2024 Limited</name>
        <lei>N/A</lei>
        <title>Residential Re 2024-II Class 3</title>
        <cusip>76112AAD4</cusip>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Alamo Re Ltd.</name>
        <lei>5493003E22VRD25G0S03</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Aquila Re I Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Armor Re II Ltd.</name>
        <lei>549300X573KDIHEJL317</lei>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Blue Ridge Re Ltd</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Bluebonnet Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>East Lane Re VII Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Everglades Re II Ltd.</name>
        <lei>5493000EE11S6ONK0372</lei>
        <title>Everglades Re II 2024-1 Class A</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Everglades Re II Ltd.</name>
        <lei>5493000EE11S6ONK0372</lei>
        <title>Everglades Re II 2025-1 Class A</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>FloodSmart Re Ltd.</name>
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        <name>Sanders Re III Ltd.</name>
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        <name>Solomon Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Brighton (Horseshoe Re)</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Blue Ridge Re Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Cape Lookout Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Cape Lookout Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Gateway Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Merna Re II Ltd</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Residential Reinsurance 2025 Limited</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Sanders Re III Ltd.</name>
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        <name>Sanders Re II Ltd.</name>
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        <name>Sanders Re II Ltd.</name>
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        <name>Sutter Re Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
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        <name>3264 Re Ltd.</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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        <name>Tomoni Re Pte. Ltd.</name>
        <lei>N/A</lei>
        <title>Tomoni Re Pte 2024-1 Class A</title>
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        <invCountry>SG</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
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          <maturityDt>2028-04-05</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.923000000000</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>Vitality Re XVI Limited</name>
        <lei>N/A</lei>
        <title>Vitality Re XVI 2025 Class A</title>
        <cusip>92849FAA6</cusip>
        <identifiers>
          <isin value="US92849FAA66"/>
        </identifiers>
        <balance>359000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356989.600000000000</valUSD>
        <pctVal>0.0253410605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.423000000000</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>Wrigley Re Ltd.</name>
        <lei>N/A</lei>
        <title>Wrigley Re 2023-1 Class A</title>
        <cusip>982533AB7</cusip>
        <identifiers>
          <isin value="US982533AB77"/>
        </identifiers>
        <balance>507000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>517114.650000000000</valUSD>
        <pctVal>0.0367076061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.903000000000</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>Madison (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Madison (Artex Segregated Account Company)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="MADISON"/>
        </identifiers>
        <balance>97141.390000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26133719.970000000000</valUSD>
        <pctVal>1.8551133636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mayflower Re Ltd.</name>
        <lei>N/A</lei>
        <title>Mayflower Re 2024-1 Class A</title>
        <cusip>57839MAC2</cusip>
        <identifiers>
          <isin value="US57839MAC29"/>
        </identifiers>
        <balance>650000.000000000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>667875.000000000000</valUSD>
        <pctVal>0.0474093944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.598000000000</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>Kauai (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Kauai (Artex Segregated Account Company)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="KAUAI"/>
        </identifiers>
        <balance>51394.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>.210000000000</valUSD>
        <pctVal>0.0000000149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Latigo (Artex Segregated Account Company)</name>
        <lei>N/A</lei>
        <title>Latigo (Artex Segregated Account Company)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="USER DEFINED" value="LATIGO"/>
        </identifiers>
        <balance>473.328176000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27760449.690000000000</valUSD>
        <pctVal>1.9705874731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-04-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Stone Ridge Trust II</ncom:nameOfApplicant>
      <ncom:signature>Maura Keselowsky</ncom:signature>
      <ncom:signerName>Maura Keselowsky</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
