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        <fairValLevel>2</fairValLevel>
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        <name>ANZ New Zealand Int'l Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Aircastle Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ALA Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Albertsons Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alimentation Couche-Tard, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alliant Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ally Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ally Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ally Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amazon.com, Inc.</name>
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        <name>Amcor Flexibles North America, Inc.</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Ameren Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AmeriCredit Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>American Honda Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AmeriCredit Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Elevance Health, Inc.</name>
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        <name>Apollo Debt Solutions BDC</name>
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        <name>Aqua Finance Trust</name>
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        <name>Ares Strategic Income Fund</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A4N8</cusip>
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          <isin value="US04685A4N87"/>
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        <balance>388000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>387037.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atlas Warehouse Lending Co. LP</name>
        <lei>25490068J12A1HV7YM70</lei>
        <title>Atlas Warehouse Lending Co. LP</title>
        <cusip>049463AD4</cusip>
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          <isin value="US049463AD44"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507347.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AutoNation, Inc.</name>
        <lei>N/A</lei>
        <title>AutoNation, Inc.</title>
        <cusip>05329WAU6</cusip>
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          <isin value="US05329WAU62"/>
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        <balance>146000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144804.90000000</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>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AutoNation Finance Trust</name>
        <lei>N/A</lei>
        <title>AutoNation Finance Trust, Series 2025-1A, Class A2</title>
        <cusip>05330QAB8</cusip>
        <identifiers>
          <isin value="US05330QAB86"/>
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        <balance>41899.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41942.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.72000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AutoNation Finance Trust</name>
        <lei>N/A</lei>
        <title>AutoNation Finance Trust, Series 2026-1A, Class A3</title>
        <cusip>05330WAC3</cusip>
        <identifiers>
          <isin value="US05330WAC38"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>134518.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.03000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Auxilior Term Funding LLC</name>
        <lei>N/A</lei>
        <title>Auxilior Term Funding LLC, Series 2023-1A, Class A2</title>
        <cusip>05335JAB9</cusip>
        <identifiers>
          <isin value="US05335JAB98"/>
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        <balance>6116.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6125.41000000</valUSD>
        <pctVal>0.004239744398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.18000000</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>Aviation Capital Group LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>Aviation Capital Group LLC</title>
        <cusip>05369AAV3</cusip>
        <identifiers>
          <isin value="US05369AAV35"/>
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        <balance>86000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84783.30000000</valUSD>
        <pctVal>0.058683340585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC, Series 2025-1A, Class A</title>
        <cusip>05377RKL7</cusip>
        <identifiers>
          <isin value="US05377RKL77"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100509.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC, Series 2026-1A, Class A</title>
        <cusip>05377RLL6</cusip>
        <identifiers>
          <isin value="US05377RLL68"/>
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        <balance>235000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232608.52000000</valUSD>
        <pctVal>0.161001576987</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.28000000</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>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAW1</cusip>
        <identifiers>
          <isin value="US05401AAW18"/>
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        <balance>195000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195697.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401ABE0</cusip>
        <identifiers>
          <isin value="US05401ABE01"/>
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        <balance>209000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205211.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</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>BFLD Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BFLD Commercial Mortgage Trust, Series 2025-660F, Class A</title>
        <cusip>05556QAA7</cusip>
        <identifiers>
          <isin value="US05556QAA76"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225140.63000000</valUSD>
        <pctVal>0.155832625881</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.15471040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BPR Trust</name>
        <lei>N/A</lei>
        <title>BPR Trust, Series 2021-NRD, Class A</title>
        <cusip>05592CAA4</cusip>
        <identifiers>
          <isin value="US05592CAA45"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348234.46000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.18000040</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BMW Vehicle Owner Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Owner Trust, Series 2023-A, Class A3</title>
        <cusip>05592XAD2</cusip>
        <identifiers>
          <isin value="US05592XAD21"/>
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        <balance>35737.69000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35906.68000000</valUSD>
        <pctVal>0.024853053982</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.47000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BofA Auto Trust</name>
        <lei>N/A</lei>
        <title>BofA Auto Trust, Series 2025-1A, Class A3</title>
        <cusip>05594BAD8</cusip>
        <identifiers>
          <isin value="US05594BAD82"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80189.15000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMW Vehicle Lease Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Lease Trust, Series 2025-2, Class A3</title>
        <cusip>05594HAD5</cusip>
        <identifiers>
          <isin value="US05594HAD52"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>349576.75000000</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>2028-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.97000000</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>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2025-DELC, Class A</title>
        <cusip>05594MAA0</cusip>
        <identifiers>
          <isin value="US05594MAA09"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100093.75000000</valUSD>
        <pctVal>0.069280573199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.20471080</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>BPR Trust</name>
        <lei>N/A</lei>
        <title>BPR Trust, Series 2022-SSP, Class A</title>
        <cusip>05602HAA1</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BHG Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US08862GAA22"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BHG Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US08862HAA05"/>
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        <balance>34888.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35410.14000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
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          <isin value="US09261HCC97"/>
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        <balance>76000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
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          <isin value="US09581CAB72"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5014.71000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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      <invstOrSec>
        <name>Bluepeak ABS Issuer LLC</name>
        <lei>N/A</lei>
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          <isin value="US09631QAA85"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>242681.04000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-20</maturityDt>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>09659W3C6</cusip>
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          <isin value="US09659W3C69"/>
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        <balance>683000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>684982.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.79200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMW Vehicle Lease Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Lease Trust, Series 2025-1, Class A3</title>
        <cusip>096912AD2</cusip>
        <identifiers>
          <isin value="US096912AD26"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85297.13000000</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>2028-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.43000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
        <cusip>097023DQ5</cusip>
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          <isin value="US097023DQ55"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204516.32000000</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>6.29800000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2025-3, Class A3</title>
        <cusip>107920AC4</cusip>
        <identifiers>
          <isin value="US107920AC48"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35095.89000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.66000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2026-1, Class A3</title>
        <cusip>107927AC9</cusip>
        <identifiers>
          <isin value="US107927AC90"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>139720.84000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.04000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2024-2, Class A3</title>
        <cusip>10805MAC1</cusip>
        <identifiers>
          <isin value="US10805MAC10"/>
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        <balance>3430.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3432.99000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.84000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2024-3, Class B</title>
        <cusip>10805NAD7</cusip>
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          <isin value="US10805NAD75"/>
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        <balance>42386.39000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42484.07000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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        <cusip>10807HAC0</cusip>
        <identifiers>
          <isin value="US10807HAC07"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45118.27000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2026-2, Class A3</title>
        <cusip>10807VAC9</cusip>
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          <isin value="US10807VAC90"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54984.89000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.27000000</annualizedRt>
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      <invstOrSec>
        <name>Brighthouse Financial Global Funding</name>
        <lei>549300BLFX3KJ2IFOA78</lei>
        <title>Brighthouse Financial Global Funding</title>
        <cusip>10921U2J6</cusip>
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          <isin value="US10921U2J68"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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      <invstOrSec>
        <name>Brookfield Asset Management Ltd.</name>
        <lei>549300CZ84WPNJZKY093</lei>
        <title>Brookfield Asset Management Ltd.</title>
        <cusip>113004AE5</cusip>
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          <isin value="US113004AE50"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>228071.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Brown &amp; Brown, Inc.</name>
        <lei>549300PC8KTJ71XKFY89</lei>
        <title>Brown &amp; Brown, Inc.</title>
        <cusip>115236AJ0</cusip>
        <identifiers>
          <isin value="US115236AJ01"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225673.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CGI, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CNH Industrial Capital LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CSMC OA LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CVR Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CaixaBank SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Camden Property Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Campbell's Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Pacific Railway Co.</name>
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        <name>Cantor Fitzgerald LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital One Financial Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Capital Power US Holdings, Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carmax Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CarMax Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CarMax Select Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Carmax Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carnival Corp.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Caterpillar Financial Services Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Chase Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chase Auto Owner Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Depository Trust Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MAREX CAPITAL MARKETS INC</name>
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        <name>Drive Auto Receivables Trust</name>
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        <name>Duke Energy Corp.</name>
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        <title>Duke Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EMD Finance LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ERAC USA Finance LLC</name>
        <lei>LTKX5ODQW6Z7BQ2K1V47</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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          <isin value="US30168JAC71"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Extra Space Storage LP</name>
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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>Extended Stay America Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FS KKR Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Meta Platforms, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>F&amp;G Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>F&amp;G Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <title>FHLMC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <title>FHLMC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fedex Freight Holding Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fidelity National Information Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fifth Third Bank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>First Investors Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First Investors Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First Investors Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Flex Ltd.</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GATX Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GECU Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
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        <fairValLevel>2</fairValLevel>
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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>GE HealthCare Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Select Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Select Receivables Trust</name>
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        <name>GLS Auto Select Receivables Issuer Trust</name>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <name>Gartner, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Georgia Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Private Credit Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Golub Capital BDC, Inc.</name>
        <lei>2549005WE0QLGK9APF78</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Golub Capital BDC, Inc.</name>
        <lei>2549005WE0QLGK9APF78</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Golub Capital Private Credit Fund</name>
        <lei>254900B5KBW6OY1F9951</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <issuerCat>USGA</issuerCat>
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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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        <fairValLevel>2</fairValLevel>
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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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        <fairValLevel>2</fairValLevel>
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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>GreatAmerica Leasing Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GreenSky Home Improvement Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HPS Corporate Lending Fund</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
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          <isin value="US40440VAH87"/>
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        <curCd>USD</curCd>
        <valUSD>85753.29000000</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>2028-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>HPS Corporate Lending Fund</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS Corporate Lending Fund</title>
        <cusip>40440VAV7</cusip>
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          <isin value="US40440VAV71"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>131599.62000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Harley-Davidson Motorcycle Trust</name>
        <lei>N/A</lei>
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          <isin value="US41285YAD76"/>
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        <curCd>USD</curCd>
        <valUSD>172335.22000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Harley-Davidson Motorcycle Trust</name>
        <lei>N/A</lei>
        <title>Harley-Davidson Motorcycle Trust, Series 2024-A, Class A3</title>
        <cusip>412922AC0</cusip>
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          <isin value="US412922AC08"/>
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        <balance>215456.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>217423.27000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hasbro, Inc.</name>
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        <title>Hasbro, Inc.</title>
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          <isin value="US418056BB29"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99190.02000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Helmerich &amp; Payne, Inc.</name>
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        <title>Helmerich &amp; Payne, Inc.</title>
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          <isin value="US423452AM35"/>
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        <balance>367000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>366696.08000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hercules Capital, Inc.</name>
        <lei>549300UJ5OC256GR2B73</lei>
        <title>Hercules Capital, Inc.</title>
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          <isin value="US427096AJ17"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-20</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Hercules Capital, Inc.</name>
        <lei>549300UJ5OC256GR2B73</lei>
        <title>Hercules Capital, Inc.</title>
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        <balance>124000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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      <invstOrSec>
        <name>Hertz Vehicle Financing III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
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        <cusip>42806MCA5</cusip>
        <identifiers>
          <isin value="US42806MCA53"/>
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        <balance>295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297840.20000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-25</maturityDt>
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        <name>Hertz Vehicle Financing III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
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          <isin value="US428102AH01"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>439274.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Hexcel Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilton Grand Vacations Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyatt Hotels Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illumina, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crescent Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lseg US Fin Corp.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LYB International Finance III LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LAD Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LAD Auto Receivables Trust</name>
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          <isin value="US505712AC37"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
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          <isin value="US50571AAE10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US505912AB10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LAD Auto Receivables Trust</name>
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          <isin value="US505920AC27"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
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        <title>Las Vegas Sands Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Lehman Brothers Holdings, Inc.</name>
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        <title>Lehman Brothers Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Lincoln Financial Global Funding</name>
        <lei>984500OC010458395923</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Lincoln Financial Global Funding</name>
        <lei>984500OC010458395923</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Equipment Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MSBAM Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MSD Investment Corp.</name>
        <lei>549300K4HV7AOWFSAO65</lei>
        <title>MSD Investment Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MSD Investment Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Educational Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Molex Electronic Technologies LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MS GOVT US LEX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mosaic Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mutual of Omaha Cos. Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MVW LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NXP BV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Australia Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Rural Utilities Cooperative Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nationwide Building Society</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Markets plc</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NatWest Markets plc</title>
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        <curCd>USD</curCd>
        <valUSD>407839.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NatWest Markets plc</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NatWest Markets plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US63941UAA16"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Economy Assets Phase 1 Sponsor LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>201600.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Mountain Finance Corp.</name>
        <lei>549300L1MPTT1H7SES77</lei>
        <title>New Mountain Finance Corp.</title>
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        <balance>40000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
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        <name>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>New York Life Global Funding</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.15000000</annualizedRt>
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        <name>New York Life Global Funding</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>New York Life Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NextGear Floorplan Master Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NextGear Floorplan Master Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NextGear Floorplan Master Owner Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Nissan Motor Acceptance Co. LLC</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
        <title>Nissan Motor Acceptance Co. LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.30000000</annualizedRt>
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        <name>Nissan Motor Acceptance Co. LLC</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Norinchukin Bank (The)</name>
        <lei>5493007VSMFZCPV1NB83</lei>
        <title>Norinchukin Bank (The)</title>
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        <fairValLevel>2</fairValLevel>
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        <name>North Haven Private Income Fund LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Northwestern Mutual Global Funding</name>
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        <title>Northwestern Mutual Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Octane Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Octane Receivables Trust</name>
        <lei>N/A</lei>
        <title>Octane Receivables Trust, Series 2025-1A, Class A2</title>
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          <isin value="US67580EAB20"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-20</maturityDt>
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        <name>Omnicom Group, Inc.</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group, Inc.</title>
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          <isin value="US681919BW57"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
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        <balance>98661.85000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Orbia Advance Corp. SAB de CV</name>
        <lei>549300MVHZ20SBIOEQ79</lei>
        <title>Orbia Advance Corp. SAB de CV</title>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Blue Owl Capital Corp. II</name>
        <lei>549300MMNWZO5XKDDX47</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Blue Owl Technology Finance Corp.</name>
        <lei>254900G5EZJSOD3UKL16</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>OWN Equipment Fund I LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC Bank NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PVH Corp.</name>
        <lei>123WALMHY1GZXG2YDL90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PacifiCorp</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Panther Escrow Issuer LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PenFed Auto Receivables Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pinnacle West Capital Corp.</name>
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          <isin value="US723484AM30"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Polaris, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prestige Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prestige Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Principal Life Global Funding II</name>
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          <isin value="US74256LFC81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Prologis Targeted US Logistics Fund LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prosus NV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Public Service Co. of Colorado</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Service Co. of New Hampshire</name>
        <lei>549300SHPFALUPKK2351</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Reach ABS Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Realty Income Corp.</name>
        <lei>549300CUWDAUZSH43859</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Regional Management Issuance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Finance Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>76041RAA9</cusip>
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          <isin value="US76041RAA95"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Rocket Cos., Inc.</title>
        <cusip>77311WAC5</cusip>
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        <balance>73000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Roper Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SCF Equipment Leasing LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SBL Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SFS Auto Receivables Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SBNA Auto Lease Trust</name>
        <lei>N/A</lei>
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          <isin value="US78398DAC11"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>SFS Auto Receivables Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SEB Funding LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SFS Auto Receivables Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SBNA Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SBNA Auto Lease Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SCF Equipment Leasing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sammons Financial Group Global Funding</name>
        <lei>635400IPRNPM6HDHRS48</lei>
        <title>Sammons Financial Group Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA</title>
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        <invCountry>FR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>136817.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2023-5, Class B</title>
        <cusip>80286PAD3</cusip>
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          <isin value="US80286PAD33"/>
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        <balance>455671.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>459551.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US80287GAE08"/>
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        <balance>80500.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80962.45000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2024-3, Class A3</title>
        <cusip>80287LAC3</cusip>
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          <isin value="US80287LAC37"/>
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        <balance>69375.22000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69531.41000000</valUSD>
        <pctVal>0.048126640675</pctVal>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2025-4, Class A3</title>
        <cusip>802923AC6</cusip>
        <identifiers>
          <isin value="US802923AC66"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99999.64000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.17000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCOTT Trust</name>
        <lei>N/A</lei>
        <title>SCOTT Trust, Series 2023-SFS, Class A</title>
        <cusip>810064AA3</cusip>
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          <isin value="US810064AA37"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233776.76000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90975000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SFS Auto Receivables Securitization Trust</name>
        <lei>N/A</lei>
        <title>SFS Auto Receivables Securitization Trust, Series 2025-1A, Class A3</title>
        <cusip>81885BAE5</cusip>
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          <isin value="US81885BAE56"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95538.99000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Shentel Issuer LLC</name>
        <lei>N/A</lei>
        <title>Shentel Issuer LLC, Series 2025-1A, Class A2</title>
        <cusip>82321AAA5</cusip>
        <identifiers>
          <isin value="US82321AAA51"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>192062.60000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.64000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>Sherwin-Williams Co. (The)</title>
        <cusip>824348BU9</cusip>
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          <isin value="US824348BU98"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348991.67000000</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>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INVESCO GOVT AND AGCY LEX</name>
        <lei>O37NHJVF7S22I1ONOU83</lei>
        <title>INVESCO GOVERNMENT &amp; AGENCY PORTFOLIO OPEN-END FUND USD</title>
        <cusip>825252885</cusip>
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        <curCd>USD</curCd>
        <valUSD>600000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
        <lei>N/A</lei>
        <title>Sierra Timeshare Receivables Funding LLC, Series 2024-2A, Class A</title>
        <cusip>82650DAA0</cusip>
        <identifiers>
          <isin value="US82650DAA00"/>
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        <balance>120072.90000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120638.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.14000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SiriusPoint Ltd.</name>
        <lei>549300OGXFI85N3YZZ51</lei>
        <title>SiriusPoint Ltd.</title>
        <cusip>82969BAA0</cusip>
        <identifiers>
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        <balance>203000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212675.19000000</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>2029-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sitios Latinoamerica SAB de CV</name>
        <lei>984500D2C0CDC0BFDD35</lei>
        <title>Sitios Latinoamerica SAB de CV</title>
        <cusip>82983PAA1</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204308.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sixth Street Lending Partners</name>
        <lei>549300S9P1HMDERGCR64</lei>
        <title>Sixth Street Lending Partners</title>
        <cusip>829932AB8</cusip>
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          <isin value="US829932AB85"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>214808.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>Smith &amp; Nephew plc</name>
        <lei>213800ZTMDN8S67S1H61</lei>
        <title>Smith &amp; Nephew plc</title>
        <cusip>83192PAC2</cusip>
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          <isin value="US83192PAC23"/>
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        <balance>443000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445497.29000000</valUSD>
        <pctVal>0.308353994228</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RBZ4</cusip>
        <identifiers>
          <isin value="US83368RBZ47"/>
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        <balance>608000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612447.41000000</valUSD>
        <pctVal>0.423909660883</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SoFi Consumer Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Consumer Loan Program Trust, Series 2025-1, Class A</title>
        <cusip>83406YAA9</cusip>
        <identifiers>
          <isin value="US83406YAA91"/>
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        <balance>43039.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43157.88000000</valUSD>
        <pctVal>0.029872021624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SoFi Consumer Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Consumer Loan Program Trust, Series 2025-2, Class A</title>
        <cusip>83407HAA5</cusip>
        <identifiers>
          <isin value="US83407HAA59"/>
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        <balance>47432.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47582.24000000</valUSD>
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        <name>Solventum Corp.</name>
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        <name>Southern California Edison Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southwest Airlines Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Starwood Retail Property Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Stellantis Financial Underwritten Enhanced Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Stellantis Financial Services US Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Swedbank AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TD SYNNEX Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Synchrony Financial</name>
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        <name>Synchrony Card Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carlyle Secured Lending, Inc.</name>
        <lei>5493003POT0JT6WD1D83</lei>
        <title>Carlyle Secured Lending, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TCO Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TTX Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sumisho Air Lease Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Take-Two Interactive Software, Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Targa Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
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        <title>Toronto-Dominion Bank (The)</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
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        <title>Toronto-Dominion Bank (The)</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Lease Owner Trust</name>
        <lei>254900R64DFTI1MWY364</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Toyota Lease Owner Trust</name>
        <lei>25490023VYI9VGKU0357</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trafigura Securitisation Finance plc</name>
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        <title>Trafigura Securitisation Finance plc, Series 2024-1A, Class A2</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS AG</name>
        <lei>254900R882POXXVAK772</lei>
        <title>UBS AG</title>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>USAA Capital Corp.</name>
        <lei>5493007XLF4LU3U2W757</lei>
        <title>USAA Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>US Bank NA</name>
        <lei>6BYL5QZYBDK8S7L73M02</lei>
        <title>US Bank NA</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>USB Auto Owner Trust</name>
        <lei>N/A</lei>
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          <isin value="US90367VAC37"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Airlines Holdings, Inc.</name>
        <lei>98450079DA0B78DD6764</lei>
        <title>United Airlines Holdings, Inc.</title>
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          <isin value="US910047AM17"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US91282CNV99"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-31</maturityDt>
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          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CPS4</cusip>
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          <isin value="US91282CPS43"/>
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        <balance>10982000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10892342.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
        <cusip>91282CQB0</cusip>
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          <isin value="US91282CQB09"/>
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        <balance>15121000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14988691.25000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-29</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
        <cusip>91324PFN7</cusip>
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          <isin value="US91324PFN78"/>
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        <curCd>USD</curCd>
        <valUSD>782529.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>Universal Health Services, Inc.</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>Universal Health Services, Inc.</title>
        <cusip>913903BB5</cusip>
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          <isin value="US913903BB57"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104256.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Master Trust</name>
        <lei>N/A</lei>
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        <cusip>92348KCU5</cusip>
        <identifiers>
          <isin value="US92348KCU51"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576371.32000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.21000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Master Trust</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>Verizon Master Trust, Series 2024-8, Class A1A</title>
        <cusip>92348KDM2</cusip>
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          <isin value="US92348KDM27"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25188.72000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Master Trust</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>Verizon Master Trust, Series 2025-7, Class A1A</title>
        <cusip>92348KEN9</cusip>
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          <isin value="US92348KEN90"/>
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        <curCd>USD</curCd>
        <valUSD>119266.42000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.96000000</annualizedRt>
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      <invstOrSec>
        <name>Veros Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Veros Auto Receivables Trust, Series 2026-1, Class A</title>
        <cusip>92511CAA0</cusip>
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        <curCd>USD</curCd>
        <valUSD>77003.05000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
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          <annualizedRt>4.53000000</annualizedRt>
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        <name>VICI Properties LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
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          <isin value="US925650AJ26"/>
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        <balance>75000.00000000</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>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Vmed O2 UK Financing I plc</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 UK Financing I plc</title>
        <cusip>92858RAE0</cusip>
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          <isin value="US92858RAE09"/>
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        <balance>550000.00000000</balance>
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        <valUSD>502748.24000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-15</maturityDt>
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          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Volkswagen Auto Loan Enhanced Trust</name>
        <lei>N/A</lei>
        <title>Volkswagen Auto Loan Enhanced Trust, Series 2024-1, Class A2A</title>
        <cusip>92868RAB4</cusip>
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          <isin value="US92868RAB42"/>
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        <balance>84602.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84734.38000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
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      <invstOrSec>
        <name>VStrong Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>VStrong Auto Receivables Trust, Series 2024-A, Class B</title>
        <cusip>92891PAG8</cusip>
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        <balance>40000.00000000</balance>
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        <valUSD>40426.86000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-15</maturityDt>
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          <annualizedRt>5.77000000</annualizedRt>
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      <invstOrSec>
        <name>WSP Global, Inc.</name>
        <lei>549300IQ87LU6X6ERQ78</lei>
        <title>WSP Global, Inc.</title>
        <cusip>92938WAG8</cusip>
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          <isin value="US92938WAG87"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>517774.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-18</maturityDt>
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          <annualizedRt>5.03900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>WEC Energy Group, Inc.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Western-Southern Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Westlake Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac New Zealand Ltd.</name>
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        <name>Wheels Fleet Lease Funding 1 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>World Financial Network Credit Card Master Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>World Omni Select Auto Trust</name>
        <lei>N/A</lei>
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        <balance>85177.59000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85453.41000000</valUSD>
        <pctVal>0.059147161801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.98000000</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>World Omni Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>World Omni Auto Receivables Trust, Series 2024-C, Class A3</title>
        <cusip>98164NAD7</cusip>
        <identifiers>
          <isin value="US98164NAD75"/>
        </identifiers>
        <balance>179881.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180321.63000000</valUSD>
        <pctVal>0.124810848695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.43000000</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>World Omni Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>World Omni Auto Receivables Trust, Series 2025-C, Class A2A</title>
        <cusip>981936AB3</cusip>
        <identifiers>
          <isin value="US981936AB31"/>
        </identifiers>
        <balance>186318.18000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186429.28000000</valUSD>
        <pctVal>0.129038300388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.19000000</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>Xcel Energy, Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy, Inc.</title>
        <cusip>98389BBD1</cusip>
        <identifiers>
          <isin value="US98389BBD10"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30143.11000000</valUSD>
        <pctVal>0.020863759613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-21</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>ZF North America Capital, Inc.</name>
        <lei>529900JYGMS9CW9IQX78</lei>
        <title>ZF North America Capital, Inc.</title>
        <cusip>98877DAH8</cusip>
        <identifiers>
          <isin value="US98877DAH89"/>
        </identifiers>
        <balance>315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>315405.58000000</valUSD>
        <pctVal>0.218310127980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="316534.50000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="TYM6COS"/>
          <other otherDesc="Future Ticker" value="TYM6 Comdty"/>
        </identifiers>
        <balance>-44.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>87800.51000000</valUSD>
        <pctVal>0.060771723109</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>N/A</issuerName>
                <issueTitle>U.S. Treasury 10 Year Note</issueTitle>
                <identifiers>
                  <ticker value="TYM6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-06-18</expDate>
            <notionalAmt>-4866125.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>87800.51000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Nationwide Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>David Majewski</ncom:signature>
      <ncom:signerName>David Majewski</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
