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      <invstOrSec>
        <name>CENTERPOINT ENERGY INC</name>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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          <currencyInfos>
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        <name>MIRION TECHNOLOGIES INC</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Mirion Technologies Inc</title>
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      <invstOrSec>
        <name>SCULPTOR CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIRSTENERGY CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>FirstEnergy Corp</name>
              <title>FirstEnergy Corp</title>
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            <currencyInfo convRatio="20.92750000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>PRP ADVISORS LLC</name>
        <lei>N/A</lei>
        <title>PRPM, LLC 2024-RPL2</title>
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          <isin value="US69381DAB10"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage, 4.625%</title>
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          <isin value="US74460W5528"/>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>ZOETIS INC</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Zoetis Inc</name>
              <title>Zoetis Inc</title>
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          <currencyInfos>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORPORATION</name>
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        <title>Federal Home Loan Mortgage Corporation - REMIC 5092</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLIANT ENERGY CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EDISON INTERNATIONAL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PPL CORPORATION</name>
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        <fairValLevel>1</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>ISHARES S&amp;P US PREFERRED STOCK</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FEDERAL HOME LOAN MORTGAGE CORPORATION</name>
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        <title>Federal Home Loan Mortgage Corporation Conventional 30-Yr. Pass Through</title>
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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>SEMPRA</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>1</fairValLevel>
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        <name>EZCORP INC.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>TRICON RESIDENTIAL TRUST</name>
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        <title>Tricon Residential Trust 2024-SFR2</title>
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        <fairValLevel>2</fairValLevel>
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        <name>VODAFONE GROUP PLC</name>
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        <title>Vodafone Group plc</title>
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        <invCountry>GB</invCountry>
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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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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <title>MetroNet Infrastructure Issuer, LLC 2025-2A</title>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US38144GAG64"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage, 4.700%</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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              <title>Microchip Technology Inc</title>
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      <invstOrSec>
        <name>FMC CORPORATION</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corporation</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PRETIUM MORTGAGE CREDIT PARTNERS LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP MORGAN MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>HOME OWNER MORTGAGE ENHANCED SECURITIES LTD</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ROGERS COMMUNICATIONS INC</name>
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        <title>Rogers Communications, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ANCHORAGE CAPITAL CLO LTD</name>
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        <title>Anchorage Capital CLO 21, Ltd. 2021-21A</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>CORE SCIENTIFIC INC</name>
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        <title>Core Scientific, Inc., Convertible</title>
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        <fairValLevel>2</fairValLevel>
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        <name>JAZZ INVESTMENTS I LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>BLACKROCK CREDIT ALLOCATION INCOME TRUST</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GREENBRIER CO INC</name>
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              <title>Greenbrier Cos Inc/The</title>
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        <name>TELEPHONE AND DATA SYSTEMS INC</name>
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        <title>Telephone and Data Systems, Inc., 6.000%</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BARINGS LOAN PARTNERS CLO LTD 2</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WASHINGTON MUTUAL MORTGAGE PASS-THROUGH CTFS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PMT LOAN TRUST</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>KEYCORP</name>
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        <title>KeyCorp, 6.200%</title>
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          <isin value="US4932678430"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SUMITOMO LIFE INSURANCE CO</name>
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        <title>Sumitomo Life Insurance Company</title>
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        <balance>320000.00000000</balance>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AKAMAI TECHNOLOGIES INC</name>
        <lei>OC1LZNN2LF5WTJ5RIL89</lei>
        <title>Akamai Technologies, Inc., Convertible</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
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      <invstOrSec>
        <name>COLT FUNDING LLC</name>
        <lei>2138006GN5HS2TH8G784</lei>
        <title>COLT Mortgage Loan Trust 2024-INV3</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>VIAVI SOLUTIONS INC</name>
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        <title>Viavi Solutions, Inc., Convertible</title>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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              <title>Viavi Solutions Inc</title>
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        <name>TERAWULF INC</name>
        <lei>254900CVMW1SX2T78A64</lei>
        <title>Terawulf, Inc., Convertible</title>
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        <name>HERTZ VEHICLE FINANCING LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>M&amp;T BANK CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HUNTINGTON BANCSHARES INC</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares, Inc./OH</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLSTATE CORPORATION (THE)</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>UBER TECHNOLOGIES INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHNGE MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBER TECHNOLOGIES INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARCHWEST MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PUGET ENERGY INC</name>
        <lei>SYBSJ96YIDMIUY7WDR33</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>RESIDENTIAL FUNDING MTG SEC I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRETIUM MORTGAGE CREDIT PARTNERS LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NUVEEN CREDIT STRATEGIES INCOME FUND</name>
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        <title>Nuveen Credit Strategies Income Fund</title>
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        <fairValLevel>1</fairValLevel>
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        <name>CFST MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CFST Mortgage Trust 2025-RTL1</title>
        <cusip>12532GAA4</cusip>
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        <fairValLevel>2</fairValLevel>
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              <title>InterDigital Inc</title>
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        <name>PRP ADVISORS LLC</name>
        <lei>N/A</lei>
        <title>PRPM Trust 2023-NQM1</title>
        <cusip>693965AD7</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Federal National Mortgage Association Conventional 30-Yr. Pass Through</title>
        <cusip>01F050650</cusip>
        <identifiers>
          <isin value="US01F0506505"/>
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        <balance>14150000.00000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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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>HOME OWNER MORTGAGE ENHANCED SECURITIES LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AES CORPORATION (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</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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        <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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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              <title>WEC Energy Group Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</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>1</fairValLevel>
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        <name>CHNGE MORTGAGE TRUST</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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              <title>BioMarin Pharmaceutical Inc</title>
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        <name>FEDERAL HOME LOAN MORTGAGE CORPORATION</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>LHOME MORTGAGE 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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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANNISA CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>A&amp;D MORTGAGE TRUST</name>
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        <title>A&amp;D Mortgage Trust 2024-NQM4</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LIGHTPATH FIBER ISSUER LLC</name>
        <lei>N/A</lei>
        <title>Lightpath Fiber Issuer, LLC 2026-1A</title>
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          <isin value="US53229YAA73"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1603840.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PALMER SQUARE LOAN FUNDING LTD</name>
        <lei>N/A</lei>
        <title>Palmer Square Loan Funding, Ltd. 2025-1A</title>
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          <isin value="US69704CAE75"/>
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        <balance>1450000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25250000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc., Convertible</title>
        <cusip>37940XAU6</cusip>
        <identifiers>
          <isin value="US37940XAU63"/>
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        <balance>231000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207322.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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              <title>Global Payments Inc</title>
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        <name>SYNAPTICS INC</name>
        <lei>549300AJ3LI4FWNRQX29</lei>
        <title>Synaptics, Inc., Convertible</title>
        <cusip>87157DAJ8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Synaptics Inc</title>
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          <currencyInfos>
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      <invstOrSec>
        <name>ROC SECURITIES TRUST</name>
        <lei>N/A</lei>
        <title>Roc Mortgage Trust 2024-RTL1</title>
        <cusip>77118UAA8</cusip>
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          <isin value="US77118UAA88"/>
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        <balance>1750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>COUNTRYWIDE ALTERNATIVE LOAN TRUST</name>
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        <title>Countrywide Alternative Loan Trust 2005-85CB</title>
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        <balance>85583.79500000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>INTEGER HOLDINGS CORP</name>
        <lei>549300SUD2ED5XG6X569</lei>
        <title>Integer Holdings Corporation, Convertible</title>
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        <fairValLevel>2</fairValLevel>
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              <title>Integer Holdings Corp</title>
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      <invstOrSec>
        <name>ARROYO MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>Arroyo Mortgage Trust 2022-1</title>
        <cusip>042855AL0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HERTZ VEHICLE FINANCING LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
        <title>Hertz Vehicle Financing III, LLC 2025-6A</title>
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          <isin value="US42806MDR79"/>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust, Convertible</title>
        <cusip>70509VAA8</cusip>
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          <isin value="US70509VAA89"/>
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        <balance>237000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Pebblebrook Hotel Trust</name>
              <title>Pebblebrook Hotel Trust</title>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRTUS CONVERTIBLE &amp; INCOME FUND</name>
        <lei>549300WT3ICVH2Z06O49</lei>
        <title>Virtus Convertible &amp; Income Fund</title>
        <cusip>92838X805</cusip>
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          <isin value="US92838X8056"/>
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        <balance>11067.00000000</balance>
        <units>NS</units>
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        <fairValLevel>1</fairValLevel>
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        <name>ARRAY TECHNOLOGIES INC</name>
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        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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            <dbtSecRefInstrument>
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              <title>Array Technologies Inc</title>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Conventional 30-Yr. Pass Through</title>
        <cusip>3140L2PV9</cusip>
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          <isin value="US3140L2PV98"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ZIFF DAVIS INC</name>
        <lei>5493008OJYGLHD7MXA18</lei>
        <title>Ziff Davis, Inc., Convertible</title>
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        <balance>92000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90712.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Ziff Davis Inc</name>
              <title>Ziff Davis Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="48123V102"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="10.00000000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>Pebblebrook Hotel Trust, Convertible</title>
        <cusip>70509VAB6</cusip>
        <identifiers>
          <isin value="US70509VAB62"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>LIVE NATION ENTERTAINMENT INC</name>
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        <title>Live Nation Entertainment, Inc., Convertible</title>
        <cusip>538034BA6</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Live Nation Entertainment Inc</name>
              <title>Live Nation Entertainment Inc</title>
              <curCd>USD</curCd>
              <identifiers>
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          <currencyInfos>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>APPLIED DIGITAL CORP</name>
        <lei>2549004NE2B6RYXINZ02</lei>
        <title>Applied Digital Corporation, Convertible</title>
        <cusip>038169AB4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>TRANSCANADA PIPELINES LTD</name>
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        <title>TransCanada PipeLines, Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Federal National Mortgage Association Conventional 15-Yr. Pass Through</title>
        <cusip>01F042459</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ZAYO ISSUER LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>KITE REALTY GROUP LP</name>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORPORATION (THE)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HTAP TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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        <name>VIRTUS DIVIDEND INTEREST &amp; PREMIUM STRATEGY FUND</name>
        <lei>549300535GECAFITZP67</lei>
        <title>Virtus Dividend, Interest &amp; Premium Strategy Fund</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>SEQUOIA MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2024-2</title>
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          <isin value="US81749HAM07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RESIDENTIAL ACCREDIT LOANS INC</name>
        <lei>N/A</lei>
        <title>Residential Accredit Loans, Inc. Trust 2007-QS6</title>
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          <isin value="US75116CAF32"/>
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        <balance>155038.49200000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851BV0</cusip>
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          <isin value="US816851BV01"/>
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        <balance>148000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149520.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.55000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PMT LOAN TRUST</name>
        <lei>N/A</lei>
        <title>PMT Loan Trust 2026-J1</title>
        <cusip>73015MAH4</cusip>
        <identifiers>
          <isin value="US73015MAH43"/>
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        <balance>1650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1579740.20000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Company</title>
        <cusip>95002YAA1</cusip>
        <identifiers>
          <isin value="US95002YAA10"/>
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        <balance>289000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303455.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PATRICK INDUSTRIES INC</name>
        <lei>549300FZ5ZTCCJ3Z5W14</lei>
        <title>Patrick Industries, Inc., Convertible</title>
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          <isin value="US703343AG80"/>
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        <balance>184000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>276368.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Patrick Industries Inc</name>
              <title>Patrick Industries Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="703343103"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="15.24080000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851BS7</cusip>
        <identifiers>
          <isin value="US816851BS71"/>
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        <balance>148000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150620.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="58308.78000000"/>
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      <invstOrSec>
        <name>TCW CLO</name>
        <lei>N/A</lei>
        <title>TCW CLO, Ltd. 2018-1A</title>
        <cusip>87240UBB5</cusip>
        <identifiers>
          <isin value="US87240UBB52"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1250658.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.46660000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HEWLETT PACKARD ENTERPRISE CO</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Company, Convertible, 7.625%</title>
        <cusip>42824C208</cusip>
        <identifiers>
          <isin value="US42824C2089"/>
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        <balance>3729.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>285715.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRP ADVISORS LLC</name>
        <lei>N/A</lei>
        <title>PRPM, LLC 2024-7</title>
        <cusip>74448LAB4</cusip>
        <identifiers>
          <isin value="US74448LAB45"/>
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        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1751835.75000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.83500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HAT HOLDINGS I LLC</name>
        <lei>N/A</lei>
        <title>HAT Holdings I, LLC/HAT Holdings II, LLC, Convertible</title>
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        <identifiers>
          <isin value="US418751AJ20"/>
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        <balance>66000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104973.00000000</valUSD>
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        <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>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>HA Sustainable Infrastructure Capital Inc</name>
              <title>HA Sustainable Infrastructure Capital Inc</title>
              <curCd>USD</curCd>
              <identifiers>
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          <currencyInfos>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Conventional 30-Yr. Pass Through</title>
        <cusip>3140XME77</cusip>
        <identifiers>
          <isin value="US3140XME773"/>
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        <balance>438887.41600000</balance>
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        <curCd>USD</curCd>
        <valUSD>403070.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>TVC MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>TVC Mortgage Trust 2024-RRTL1</title>
        <cusip>87306WAA5</cusip>
        <identifiers>
          <isin value="US87306WAA53"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1553578.02000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.54500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association - REMIC 2013-2</title>
        <cusip>3136AB3K7</cusip>
        <identifiers>
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        <balance>80331.75000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Conventional 30-Yr. Pass Through</title>
        <cusip>3140XHQG5</cusip>
        <identifiers>
          <isin value="US3140XHQG50"/>
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        <balance>719183.07100000</balance>
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        <curCd>USD</curCd>
        <valUSD>664504.10000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMSR TRUST</name>
        <lei>N/A</lei>
        <title>AMSR Trust 2021-SFR1</title>
        <cusip>00179DAC0</cusip>
        <identifiers>
          <isin value="US00179DAC02"/>
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        <balance>1079000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1016597.87000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UGI CORPORATION</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI Corporation, Convertible</title>
        <cusip>902681AB1</cusip>
        <identifiers>
          <isin value="US902681AB18"/>
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        <balance>92000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>127880.00000000</valUSD>
        <pctVal>0.014954966570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ATHENE HOLDING LTD</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Company, Inc.</title>
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          <isin value="US37045XCA28"/>
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        <balance>81000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COUNTRYWIDE HOME LOANS INC</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust 2007-18</title>
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          <isin value="US12544JAB26"/>
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        <curCd>USD</curCd>
        <valUSD>190557.78000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Core Scientific Inc</title>
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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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          <isin value="US65339KDB35"/>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK MORTGAGE TRUST</name>
        <lei>254900EYRFLK2LMLVT67</lei>
        <title>NYMT Loan Trust 2025-INV2</title>
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          <isin value="US62957JAG67"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP MORGAN MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS COMMERCIAL MORTGAGE SECURITIES LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>EATON VANCE TAX MANAGED GLOBAL DIVERSIFIED EQUITY INCOME FUND</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PENDING</name>
        <lei>N/A</lei>
        <title>Builder Circle Mortgage Trust 2026-RTL1</title>
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        <fairValLevel>3</fairValLevel>
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        <name>UNITED STATES TREASURY</name>
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        <title>U.S. Treasury Notes</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AKAMAI TECHNOLOGIES INC</name>
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        <title>Akamai Technologies, Inc., Convertible</title>
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        <fairValLevel>2</fairValLevel>
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              <title>Akamai Technologies Inc</title>
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        <name>STARWOOD PROPERTY TRUST INC</name>
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        <title>Starwood Property Trust, Inc., Convertible</title>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Starwood Property Trust Inc</title>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORPORATION</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corporation - REMIC 5617</title>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <name>KEYCORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>CITIGROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Federal National Mortgage Association - REMIC 2025-69</title>
        <cusip>3136BWD52</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>CENTERPOINT ENERGY INC</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy, Inc., Convertible</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Company, 4.375%</title>
        <cusip>95002Y202</cusip>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association Conventional 30-Yr. Pass Through</title>
        <cusip>3140XJF73</cusip>
        <identifiers>
          <isin value="US3140XJF735"/>
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        <balance>205477.23600000</balance>
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        <curCd>USD</curCd>
        <valUSD>189178.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PAGAYA AI DEBT SELECTION TRUST</name>
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        <title>Pagaya AI Debt Grantor Trust and Pagaya AI Debt Trust 2024-6</title>
        <cusip>69548KAA7</cusip>
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          <isin value="US69548KAA79"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BLOCK INC</name>
        <lei>549300OHIIUWSTIZME52</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Company, 4.950%</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SIGNAL PEAK CLO LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>CENTERPOINT ENERGY INC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORPORATION</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>FEDERAL HOME LOAN MORTGAGE CORPORATION</name>
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        <name>PUBLIC STORAGE</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GOLDMAN SACHS GROUP INC/THE</name>
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        <title>Goldman Sachs Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AVIS BUDGET RENTAL CAR FUNDING (AESOP) LLC</name>
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        <title>Avis Budget Rental Car Funding AESOP, LLC 2025-4A</title>
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        <name>TERAWULF INC</name>
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              <title>Terawulf Inc</title>
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      <invstOrSec>
        <name>BATTALION CLO LTD</name>
        <lei>549300O0R7FIDPTPCK50</lei>
        <title>Battalion CLO XI, Ltd. 2017-11A</title>
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        <name>COREBRIDGE FINANCIAL INC</name>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>GCAT TRUST</name>
        <lei>N/A</lei>
        <title>GCAT Trust 2024-INV3</title>
        <cusip>36830FAA4</cusip>
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          <isin value="US36830FAA49"/>
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        <balance>1148155.26000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>COREWEAVE 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>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <pctVal>0.011175518603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.47050000</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>GOLDMAN SACHS GROUP INC/THE</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc.</title>
        <cusip>38141GYU2</cusip>
        <identifiers>
          <isin value="US38141GYU20"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296987.40000000</valUSD>
        <pctVal>0.034731284320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAGAYA AI DEBT SELECTION TRUST</name>
        <lei>N/A</lei>
        <title>Pagaya AI Debt Grantor Trust 2024-11</title>
        <cusip>69544AAA3</cusip>
        <identifiers>
          <isin value="US69544AAA34"/>
        </identifiers>
        <balance>562135.66000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>563879.57000000</valUSD>
        <pctVal>0.065943072562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.09200000</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>BARINGS GLOBAL SHORT DURATION HIGH YIELD FUND</name>
        <lei>549300WWIZCL845OP089</lei>
        <title>Barings Global Short Duration High Yield Fund</title>
        <cusip>06760L100</cusip>
        <identifiers>
          <isin value="US06760L1008"/>
        </identifiers>
        <balance>3133.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44707.91000000</valUSD>
        <pctVal>0.005228380509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Registered Investment Company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Company, 4.750%</title>
        <cusip>48128B622</cusip>
        <identifiers>
          <isin value="US48128B6222"/>
        </identifiers>
        <balance>12500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>251000.00000000</valUSD>
        <pctVal>0.029353273453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The daily NAV is calculated on a T+1 basis on most days. The current exception to this occurs on the fiscal quarter ends. On these fiscal quarter end dates, the NAV is calculated on a T+0 basis." noteItem="B.1.c"/>
      <explntrNote note="For derivatives owned, if any, Unrealized Appreciation/Depreciation is reported as Value for future and swap type derivatives.  Actual security Value is reported for option type derivatives." noteItem="C.2.c"/>
      <explntrNote note="Data presented is directly from day-to-day accounting records of Fund used to calculate net asset value per share.  It does not reflect adjustments necessary to make data GAAP compliant, such as reclassifying prepaid expenses, expenses reimbursements, and/or any other related adjustments." noteItem="B.1.b"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Thrivent Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>Sarah L. Bergstrom</ncom:signature>
      <ncom:signerName>Sarah L. Bergstrom</ncom:signerName>
      <ncom:title>Treasurer and Principal Accounting Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
