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        <fairValLevel>2</fairValLevel>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
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          <isin value="US00182MAA99"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ACREC LLC</name>
        <lei>N/A</lei>
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          <isin value="US004970AC38"/>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust, Series 2024-3, Class E</title>
        <cusip>02490BAJ7</cusip>
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          <isin value="US02490BAJ70"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US02528EAE86"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US02528EAG35"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust, Series 2026-2, Class B</title>
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          <isin value="US02528FAC95"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust, Series 2026-2, Class C</title>
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          <isin value="US02528FAE51"/>
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        <balance>3385000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust, Series 2023-2, Class D</title>
        <cusip>02529YAG8</cusip>
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          <isin value="US02529YAG89"/>
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        <balance>6533707.10000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust, Series 2024-1, Class D</title>
        <cusip>02531AAG6</cusip>
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          <isin value="US02531AAG67"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
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        <cusip>02531AAJ0</cusip>
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          <isin value="US02531AAJ07"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
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        <cusip>02531FAC4</cusip>
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          <isin value="US02531FAC41"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Anchor Mortgage Trust</name>
        <lei>254900S7O2LYCU17JI96</lei>
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          <isin value="US03290CAA45"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Ansley Park Capital LLC</name>
        <lei>N/A</lei>
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          <isin value="US03637AAB89"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aqua Finance Issuer Trust</name>
        <lei>N/A</lei>
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        <cusip>038394AA0</cusip>
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          <isin value="US038394AA02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Aqua Finance Trust</name>
        <lei>N/A</lei>
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        <cusip>03842VAA5</cusip>
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        <balance>3384302.20000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>ARES Trust</name>
        <lei>N/A</lei>
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        <cusip>039955AA7</cusip>
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          <isin value="US039955AA76"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Auxilior Term Funding LLC</name>
        <lei>N/A</lei>
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        <cusip>05335JAB9</cusip>
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        <balance>18302.92000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05492VAB18"/>
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        <fairValLevel>2</fairValLevel>
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        <name>BDS LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BXG Receivables Note Trust</name>
        <lei>N/A</lei>
        <title>BXG Receivables Note Trust, Series 2020-A, Class B</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2021-BXMF, Class A</title>
        <cusip>05609RAA2</cusip>
        <identifiers>
          <isin value="US05609RAA23"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>056121AA4</cusip>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX</name>
        <lei>N/A</lei>
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        <cusip>05612UAA0</cusip>
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          <isin value="US05612UAA07"/>
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        <fairValLevel>2</fairValLevel>
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        <name>BOFAS Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BOFAS Re-REMIC Trust, Series 2026-FRR7, Class AK77</title>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>BOFAS Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BOFAS Re-REMIC Trust, Series 2026-FRR7, Class AK97</title>
        <cusip>05620CBA9</cusip>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>BOFAS Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>BOFAS Re-REMIC Trust, Series 2026-FRR8, Class A124</title>
        <cusip>05620FAA3</cusip>
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        <fairValLevel>3</fairValLevel>
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        <name>BOFAS Re-REMIC Trust</name>
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        <title>BOFAS Re-REMIC Trust, Series 2026-FRR8, Class A129</title>
        <cusip>05620FAS4</cusip>
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        <fairValLevel>3</fairValLevel>
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        <name>Ballyrock CLO Ltd.</name>
        <lei>254900EJNL3EAF77OS82</lei>
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        <cusip>05875JAJ8</cusip>
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          <isin value="US05875JAJ88"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banc of America Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Banc of America Mortgage Trust, Series 2004-D, Class 2A2</title>
        <cusip>05949ADG2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.76774000</annualizedRt>
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      <invstOrSec>
        <name>Banc of America Funding Trust</name>
        <lei>N/A</lei>
        <title>Banc of America Funding Trust, Series 2006-1, Class 2A1</title>
        <cusip>05949TBD0</cusip>
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          <isin value="US05949TBD00"/>
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        <balance>72145.67930000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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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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      <invstOrSec>
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        <curCd>USD</curCd>
        <valUSD>5015522.50000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <identifiers>
          <isin value="US10806HAE71"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Bridge Trust</name>
        <lei>N/A</lei>
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          <isin value="US10807GAA67"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US10807UAE73"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <isin value="US10807VAD73"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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          <isin value="US10807VAE56"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88000000</annualizedRt>
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      <invstOrSec>
        <name>Business Jet Securities LLC</name>
        <lei>N/A</lei>
        <title>Business Jet Securities LLC, Series 2024-2A, Class A</title>
        <cusip>12326TAA6</cusip>
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          <isin value="US12326TAA60"/>
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        <curCd>USD</curCd>
        <valUSD>4543086.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Business Jet Securities LLC</name>
        <lei>N/A</lei>
        <title>Business Jet Securities LLC, Series 2022-1A, Class A</title>
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          <isin value="US12327AAA60"/>
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        <balance>4088739.05000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4042361.71000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Business Jet Securities LLC</name>
        <lei>N/A</lei>
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        <cusip>12327CAA2</cusip>
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          <isin value="US12327CAA27"/>
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        <balance>2382933.05000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2409012.35000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.19700000</annualizedRt>
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      <invstOrSec>
        <name>CARS-DB4 LP</name>
        <lei>N/A</lei>
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        <cusip>12510HAC4</cusip>
        <identifiers>
          <isin value="US12510HAC43"/>
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        <balance>3928650.37000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CARS-DB4 LP</name>
        <lei>N/A</lei>
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          <isin value="US12510HAE09"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CARS-DB5 LP</name>
        <lei>N/A</lei>
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          <isin value="US12510HAK68"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CCG Receivables Trust</name>
        <lei>N/A</lei>
        <title>CCG Receivables Trust, Series 2023-2, Class B</title>
        <cusip>12511QAC3</cusip>
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          <isin value="US12511QAC33"/>
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        <balance>5061000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>CFIN 2022-RTL1 Issuer LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="O1FB0E2"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CF Hippolyta Issuer LLC</name>
        <lei>N/A</lei>
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          <isin value="US12530MAA36"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Consumer Portfolio Services Auto Trust</name>
        <lei>N/A</lei>
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          <isin value="US12630SAA96"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Consumer Portfolio Services Auto Trust</name>
        <lei>N/A</lei>
        <title>Consumer Portfolio Services Auto Trust, Series 2025-B, Class D</title>
        <cusip>12630SAD3</cusip>
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          <isin value="US12630SAD36"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
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      <invstOrSec>
        <name>Consumer Portfolio Services Auto Trust</name>
        <lei>N/A</lei>
        <title>Consumer Portfolio Services Auto Trust, Series 2025-A, Class A</title>
        <cusip>12633SAA6</cusip>
        <identifiers>
          <isin value="US12633SAA69"/>
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        <balance>523046.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>523403.40000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.77000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2025-C, Class C</title>
        <cusip>12634SAC1</cusip>
        <identifiers>
          <isin value="US12634SAC17"/>
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        <balance>13980000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14002024.09000000</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>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.91000000</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>CSMC OA LLC</name>
        <lei>549300818AKCJ4Q9TD76</lei>
        <title>CSMC OA LLC, Series 2014-USA, Class A2</title>
        <cusip>12649AAC3</cusip>
        <identifiers>
          <isin value="US12649AAC36"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4625365.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2022-D, Class D</title>
        <cusip>12663UAD8</cusip>
        <identifiers>
          <isin value="US12663UAD81"/>
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        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7151634.70000000</valUSD>
        <pctVal>0.186827478091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.73000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
        <lei>N/A</lei>
        <title>Countrywide Asset-Backed Certificates, Series 2003-BC2, Class 2A1</title>
        <cusip>126671YB6</cusip>
        <identifiers>
          <isin value="US126671YB67"/>
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        <balance>1358.07000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1357.27000000</valUSD>
        <pctVal>0.000035456974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.29879960</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
        <lei>N/A</lei>
        <title>Countrywide Asset-Backed Certificates, Series 2004-S1, Class M2</title>
        <cusip>126673TG7</cusip>
        <identifiers>
          <isin value="US126673TG75"/>
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        <balance>7155.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7141.30000000</valUSD>
        <pctVal>0.000186557497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.58399960</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>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2004-33, Class 3A3</title>
        <cusip>12667FC52</cusip>
        <identifiers>
          <isin value="US12667FC528"/>
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        <balance>73870.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70984.80000000</valUSD>
        <pctVal>0.001854388782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.55716080</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>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2004-J4, Class 1A6</title>
        <cusip>12667FFL4</cusip>
        <identifiers>
          <isin value="US12667FFL40"/>
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        <balance>99.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99.03000000</valUSD>
        <pctVal>0.000002587034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.37028920</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>COMM Mortgage Trust</name>
        <lei>N/A</lei>
        <title>COMM Mortgage Trust, Series 2024-CBM, Class A1</title>
        <cusip>12674GAA2</cusip>
        <identifiers>
          <isin value="US12674GAA22"/>
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        <balance>942200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>937173.46000000</valUSD>
        <pctVal>0.024482480077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.66142840</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>CSTL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSTL Commercial Mortgage Trust, Series 2025-GATE2, Class B</title>
        <cusip>12676JAC0</cusip>
        <identifiers>
          <isin value="US12676JAC09"/>
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        <balance>3400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3318875.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.85228880</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>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2026-B, Class B</title>
        <cusip>12676XAB1</cusip>
        <identifiers>
          <isin value="US12676XAB10"/>
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        <balance>8172000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8153007.45000000</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>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.59000000</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>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2026-B, Class C</title>
        <cusip>12676XAC9</cusip>
        <identifiers>
          <isin value="US12676XAC92"/>
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        <balance>2685000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2682539.47000000</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>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.93000000</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>CAFL Issuer LP</name>
        <lei>N/A</lei>
        <title>CAFL Issuer LP, Series 2025-RRTL2, Class A1</title>
        <cusip>12770JAA9</cusip>
        <identifiers>
          <isin value="US12770JAA97"/>
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        <balance>4865000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4830870.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.17899960</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>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
        <cusip>12803RAK0</cusip>
        <identifiers>
          <isin value="US12803RAK05"/>
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        <balance>7195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7197667.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.63400000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>13607QFD9</cusip>
        <identifiers>
          <isin value="US13607QFD97"/>
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        <balance>4435000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4424542.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.24300000</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>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HDM4</cusip>
        <identifiers>
          <isin value="US14040HDM43"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9830615.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.49300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Carvana Auto Receivables Trust, Series 2024-P4, Class A3</title>
        <cusip>14076LAC7</cusip>
        <identifiers>
          <isin value="US14076LAC72"/>
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        <balance>1607603.54000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1612479.08000000</valUSD>
        <pctVal>0.042123991594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.64000000</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>Carmax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Carmax Auto Owner Trust, Series 2025-3, Class B</title>
        <cusip>14290FAF3</cusip>
        <identifiers>
          <isin value="US14290FAF36"/>
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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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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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          <isin value="US146919AC98"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Centex Home Equity Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CFMT LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Citigroup, Inc.</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>2</fairValLevel>
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        <name>CNO Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Connecticut Avenue Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Connecticut Avenue Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Connecticut Avenue Securities 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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        <fairValLevel>2</fairValLevel>
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        <name>Consumer Portfolio Services Auto Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Consumer Portfolio Services Auto Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CPS Auto 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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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS Group AG</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>CSFB Mortgage-Backed Pass-Through Certificates</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Suisse First Boston Mortgage Securities Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Crossroads Asset Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DLLAA LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DT Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>DailyPay Securitization Trust 2025-1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Alt-A Securities, Inc. Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>DLIC Re-REMIC Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>DLIC Re-REMIC Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US262103AE48"/>
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        <balance>17500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dryden Senior Loan Fund</name>
        <lei>5493002P75UIPU4MC757</lei>
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          <isin value="US26245CBQ50"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5000215.00000000</valUSD>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dryden CLO Ltd.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elara Hgv Timeshare Issuer LLC</name>
        <lei>N/A</lei>
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        <cusip>28416VAA8</cusip>
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          <isin value="US28416VAA89"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.54000000</annualizedRt>
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      <invstOrSec>
        <name>ELP Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>ELP Commercial Mortgage Trust, Series 2025-ELP, Class B</title>
        <cusip>290154AC7</cusip>
        <identifiers>
          <isin value="US290154AC72"/>
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        <balance>3000000.00000000</balance>
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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>Variable</couponKind>
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      <invstOrSec>
        <name>ENEL Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>ENEL Finance International NV</title>
        <cusip>29278GBF4</cusip>
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        <balance>2775000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing LLC, Series 2025-2, Class A3</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.46000000</annualizedRt>
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        <name>Equitable America Global Funding</name>
        <lei>98450066CCBIACF06694</lei>
        <title>Equitable America Global Funding</title>
        <cusip>29446Q2B8</cusip>
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        <balance>6865000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2024-5A, Class D</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2021-4A, Class E</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2024-2A, Class C</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.74000000</annualizedRt>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2023-4A, Class C</title>
        <cusip>30166TAE3</cusip>
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          <isin value="US30166TAE38"/>
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        <balance>484413.09000000</balance>
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        <curCd>USD</curCd>
        <valUSD>485548.51000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.51000000</annualizedRt>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2025-5A, Class B</title>
        <cusip>30166VAG3</cusip>
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          <isin value="US30166VAG32"/>
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        <balance>6665000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.28000000</annualizedRt>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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          <isin value="US30166XAF15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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          <isin value="US30167KAF84"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US30168JAF03"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US30185EAD58"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Select Automobile Receivables Trust, Series 2025-3, Class B</title>
        <cusip>30185FAD2</cusip>
        <identifiers>
          <isin value="US30185FAD24"/>
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        <balance>5920000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5881826.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US30185FAE07"/>
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        <balance>8584000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8590668.91000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Exeter Select Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Select Automobile Receivables Trust, Series 2026-1, Class B</title>
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        <identifiers>
          <isin value="US301868AD73"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K83, Class C</title>
        <cusip>302958AQ6</cusip>
        <identifiers>
          <isin value="US302958AQ69"/>
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        <valUSD>6859456.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-K64, Class B</title>
        <cusip>30296CAE3</cusip>
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          <isin value="US30296CAE30"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-K64, Class C</title>
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          <isin value="US30296CAG87"/>
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        <balance>3285000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-K89, Class C</title>
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          <isin value="US302972AU81"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-K92, Class C</title>
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          <isin value="US302973AJ10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K105, Class C</title>
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          <isin value="US302975BG10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K81, Class C</title>
        <cusip>30297HAJ0</cusip>
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          <isin value="US30297HAJ05"/>
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        <balance>10682000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-25</maturityDt>
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          <annualizedRt>4.17351600</annualizedRt>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K82, Class C</title>
        <cusip>30297LAG7</cusip>
        <identifiers>
          <isin value="US30297LAG77"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>2934977.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
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          <annualizedRt>4.13290080</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREMF 2020-K104 Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>30298MAC3</cusip>
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          <isin value="US30298MAC38"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF 2019-K96 Mortgage Trust</name>
        <lei>N/A</lei>
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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>FS Rialto</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</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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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5535, Class B</title>
        <cusip>3137HL5T5</cusip>
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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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31392GWB7</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-25</maturityDt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Structured Pass-Through Certificates, Whole Loan, Series T-51, Class 1A</title>
        <cusip>31392W7F1</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC Trust, Whole Loan, Series 2003-W4, Class 5A</title>
        <cusip>31393AR33</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Structured Pass-Through Certificates, Whole Loan, Series T-54, Class 4A</title>
        <cusip>31393LFP3</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC Trust, Whole Loan, Series 2003-W15, Class 3A</title>
        <cusip>31393TC87</cusip>
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          <isin value="US31393TC875"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA Trust, Whole Loan, Series 2004-W2, Class 4A</title>
        <cusip>31393XGT8</cusip>
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          <isin value="US31393XGT81"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2006-16, Class HZ</title>
        <cusip>31394V6A3</cusip>
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          <isin value="US31394V6A33"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-25</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3085, Class VS</title>
        <cusip>31396FSL8</cusip>
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          <isin value="US31396FSL84"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2006-124, Class FC</title>
        <cusip>31396PFT3</cusip>
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          <isin value="US31396PFT30"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.07657880</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2007-76, Class ZG</title>
        <cusip>31396WZ90</cusip>
        <identifiers>
          <isin value="US31396WZ907"/>
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        <balance>84629.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85826.65000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 3300, Class FA</title>
        <cusip>31397GQR4</cusip>
        <identifiers>
          <isin value="US31397GQR47"/>
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        <balance>68455.10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67794.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <curCd>USD</curCd>
        <valUSD>17160535.45000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>FIGRE Trust</name>
        <lei>N/A</lei>
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        <cusip>31684LAA9</cusip>
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          <isin value="US31684LAA98"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIGRE Trust</name>
        <lei>N/A</lei>
        <title>FIGRE Trust, Series 2025-HE6, Class A</title>
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          <isin value="US31684NAA54"/>
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        <balance>4375808.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4332743.20000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>First Franklin Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>First Franklin Mortgage Loan Trust, Series 2002-FF1, Class M1</title>
        <cusip>32027NAR2</cusip>
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          <isin value="US32027NAR26"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>First Franklin Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>First Franklin Mortgage Loan Trust, Series 2002-FF4, Class M1</title>
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          <isin value="US32027NBU46"/>
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        <curCd>USD</curCd>
        <valUSD>500918.23000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>First Franklin Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>First Franklin Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>First Franklin Mortgage Loan Trust, Series 2004-FF8, Class M4</title>
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          <isin value="US32027NNT45"/>
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        <balance>173915.62300000</balance>
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        <curCd>USD</curCd>
        <valUSD>130962.22000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>First Horizon Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>First Horizon Mortgage Pass-Through Trust, Series 2004-AR6, Class 2A1</title>
        <cusip>32051GBD6</cusip>
        <identifiers>
          <isin value="US32051GBD60"/>
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        <balance>58813.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57801.71000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.32887760</annualizedRt>
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      <invstOrSec>
        <name>First Investors Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>First Investors Auto Owner Trust, Series 2025-1A, Class B</title>
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          <isin value="US32059WAG78"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FirstEnergy Transmission LLC</name>
        <lei>549300AINIIPOLYX2R63</lei>
        <title>FirstEnergy Transmission LLC</title>
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          <isin value="US33767BAG41"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
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          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2021-SFR1, Class A</title>
        <cusip>33767WAA1</cusip>
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          <isin value="US33767WAA18"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>1.53800000</annualizedRt>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFRA, Class A</title>
        <cusip>33768DAA2</cusip>
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          <isin value="US33768DAA28"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR3, Class B</title>
        <cusip>33768EAC6</cusip>
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          <isin value="US33768EAC66"/>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
        <lei>N/A</lei>
        <title>FirstKey Homes Trust, Series 2022-SFR1, Class B</title>
        <cusip>33768NAC6</cusip>
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          <isin value="US33768NAC65"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5966115.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-19</maturityDt>
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          <annualizedRt>4.49300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Flagstar Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Flagstar Mortgage Trust, Series 2019-2, Class A2</title>
        <cusip>33852BAB1</cusip>
        <identifiers>
          <isin value="US33852BAB18"/>
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        <balance>1115047.99000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1005913.34000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.49999920</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>
      <invstOrSec>
        <name>Fortiva Retail Credit Master Note Business Trust</name>
        <lei>N/A</lei>
        <title>Fortiva Retail Credit Master Note Business Trust, Series 2025-TWO, Class A</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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Foundation Finance Trust</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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        <fairValLevel>2</fairValLevel>
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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>Seasoned Loans Structured Transaction Trust</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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        <fairValLevel>2</fairValLevel>
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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>529900ZVQVVVNGMGDO97</lei>
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        <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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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GSAA Trust</name>
        <lei>N/A</lei>
        <title>GSAA Trust, Series 2004-CW1, Class 1A1</title>
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          <isin value="US36228FT483"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GSR Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>GSR Mortgage Loan Trust, Series 2004-10F, Class 7A1</title>
        <cusip>36242DEZ2</cusip>
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          <isin value="US36242DEZ24"/>
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        <balance>36051.09000000</balance>
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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>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2022-1A, Class E</title>
        <cusip>36263XAJ2</cusip>
        <identifiers>
          <isin value="US36263XAJ28"/>
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        <balance>7000000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2023-1A, Class D</title>
        <cusip>36266XAE0</cusip>
        <identifiers>
          <isin value="US36266XAE04"/>
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        <balance>4451844.06000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2024-4A, Class A2</title>
        <cusip>36271BAC5</cusip>
        <identifiers>
          <isin value="US36271BAC54"/>
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        <balance>605358.17000000</balance>
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        <curCd>USD</curCd>
        <valUSD>606391.33000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2024-4A, Class C</title>
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          <isin value="US36271BAG68"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>254900R6PO5A0PCKSU63</lei>
        <title>GS Mortgage-Backed Securities Trust, Series 2025-CES1, Class A1A</title>
        <cusip>36271RAA4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Select Receivables Trust, Series 2025-3A, Class B</title>
        <cusip>36272GAE9</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2025-4A, Class C</title>
        <cusip>36273HAJ5</cusip>
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          <isin value="US36273HAJ59"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2026-1A, Class B</title>
        <cusip>36274AAD2</cusip>
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          <isin value="US36274AAD28"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust, Series 2026-1A, Class C</title>
        <cusip>36274AAE0</cusip>
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          <isin value="US36274AAE01"/>
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        <balance>10056000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-17</maturityDt>
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          <annualizedRt>4.56000000</annualizedRt>
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      <invstOrSec>
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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>3</fairValLevel>
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        <name>GoodLeap Home Improvement Solutions 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>Goodgreen Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.41515160</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.20514920</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H15, Class FB</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H04, Class FL</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-12, Class PA</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2021-H07, Class FA</title>
        <cusip>38380Q3B6</cusip>
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        <balance>6011277.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6100958.22000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2071-05-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.64014080</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2023-24, Class FD</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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        <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>GNMA</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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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Harley-Davidson Motorcycle Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HERO Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hertz Vehicle Financing III LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hertz Vehicle Financing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hertz Vehicle Financing III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
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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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          <maturityDt>2034-10-25</maturityDt>
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          <annualizedRt>4.47879960</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Impac CMB Trust</name>
        <lei>N/A</lei>
        <title>Impac CMB Trust, Series 2005-5, Class A1</title>
        <cusip>45254NPU5</cusip>
        <identifiers>
          <isin value="US45254NPU53"/>
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        <balance>200733.93000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192796.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.33879920</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>IndyMac INDA Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>IndyMac INDA Mortgage Loan Trust, Series 2007-AR1, Class 1A1</title>
        <cusip>45669AAA2</cusip>
        <identifiers>
          <isin value="US45669AAA25"/>
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        <balance>182658.21010000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132968.05000000</valUSD>
        <pctVal>0.003473623372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.88165320</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>JPMorgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JPMorgan Mortgage Trust, Series 2003-A1, Class 1A1</title>
        <cusip>466247AA1</cusip>
        <identifiers>
          <isin value="US466247AA12"/>
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        <balance>9481.23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9131.52000000</valUSD>
        <pctVal>0.000238549495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.58308080</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>JPMorgan Prime Money Market Fund</name>
        <lei>549300YD7H8SEEU7VG41</lei>
        <title>JPMorgan Prime Money Market Fund, Class IM</title>
        <cusip>46637K844</cusip>
        <identifiers>
          <isin value="US46637K8449"/>
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        <balance>48660488.80600000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48670220.90000000</valUSD>
        <pctVal>1.271448418488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jonah Energy ABS II LLC</name>
        <lei>254900MMTK6TS4MGMV20</lei>
        <title>Jonah Energy ABS LLC, Series 2025-2A, Class A1</title>
        <cusip>479915AA8</cusip>
        <identifiers>
          <isin value="US479915AA81"/>
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        <balance>1445858.53000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1443978.91000000</valUSD>
        <pctVal>0.037722136195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90800000</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>LCM 29 Ltd.</name>
        <lei>N/A</lei>
        <title>LCM Ltd., Series 29A, Class AR</title>
        <cusip>50201MAQ6</cusip>
        <identifiers>
          <isin value="US50201MAQ69"/>
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        <balance>293566.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293499.90000000</valUSD>
        <pctVal>0.007667316416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.00470920</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>LCM Ltd.</name>
        <lei>54930038DJKYPKSVRB29</lei>
        <title>LCM Ltd., Series 34A, Class A1R</title>
        <cusip>50203CAL7</cusip>
        <identifiers>
          <isin value="US50203CAL72"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15003840.00000000</valUSD>
        <pctVal>0.391956483584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.85523000</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>LHOME Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LHOME Mortgage Trust, Series 2024-RTL4, Class A1</title>
        <cusip>50205PAA0</cusip>
        <identifiers>
          <isin value="US50205PAA03"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3007479.30000000</valUSD>
        <pctVal>0.078566621003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.92099920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LHOME Mortgage Trust</name>
        <lei>5299002NGIWITLMXOH85</lei>
        <title>LHOME Mortgage Trust, Series 2025-RTL1, Class A1</title>
        <cusip>50205UAA9</cusip>
        <identifiers>
          <isin value="US50205UAA97"/>
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        <balance>3740000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3756326.60000000</valUSD>
        <pctVal>0.098129316583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.65200000</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>LHOME Mortgage Trust</name>
        <lei>529900XB146PHFHY2T23</lei>
        <title>LHOME Mortgage Trust, Series 2025-RTL3, Class A1</title>
        <cusip>50205YAA1</cusip>
        <identifiers>
          <isin value="US50205YAA10"/>
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        <balance>7250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7253822.93000000</valUSD>
        <pctVal>0.189497017309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.23900080</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>LHOME Mortgage Trust</name>
        <lei>52990026MRD22HI0T740</lei>
        <title>LHOME Mortgage Trust, Series 2026-RTL1, Class A1</title>
        <cusip>50206JAA3</cusip>
        <identifiers>
          <isin value="US50206JAA34"/>
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        <balance>4640000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4608582.56000000</valUSD>
        <pctVal>0.120393433582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.90799880</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>Lhome Mortgage Trust</name>
        <lei>529900COAFD3IY51O355</lei>
        <title>LHOME Mortgage Trust, Series 2025-RTL2, Class A1</title>
        <cusip>50206RAA5</cusip>
        <identifiers>
          <isin value="US50206RAA59"/>
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        <balance>1695000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1703543.14000000</valUSD>
        <pctVal>0.044502925836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.61200040</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>LAD Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>LAD Auto Receivables Trust, Series 2025-2A, Class B</title>
        <cusip>505912AF2</cusip>
        <identifiers>
          <isin value="US505912AF24"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3986079.20000000</valUSD>
        <pctVal>0.104131314818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.53000000</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>Lending Funding Trust</name>
        <lei>N/A</lei>
        <title>Lending Funding Trust, Series 2020-2A, Class C</title>
        <cusip>51507KAC0</cusip>
        <identifiers>
          <isin value="US51507KAC09"/>
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        <balance>980000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>966978.94000000</valUSD>
        <pctVal>0.025261110823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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>Lendmark Funding Trust</name>
        <lei>N/A</lei>
        <title>Lendmark Funding Trust, Series 2025-3A, Class C</title>
        <cusip>525951AC3</cusip>
        <identifiers>
          <isin value="US525951AC35"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3909411.60000000</valUSD>
        <pctVal>0.102128470019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.04000000</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>Lendmark Funding Trust</name>
        <lei>N/A</lei>
        <title>Lendmark Funding Trust, Series 2025-2A, Class A</title>
        <cusip>52603GAA4</cusip>
        <identifiers>
          <isin value="US52603GAA40"/>
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        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5984837.40000000</valUSD>
        <pctVal>0.156346363472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78000000</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>Lendmark Funding Trust</name>
        <lei>N/A</lei>
        <title>Lendmark Funding Trust, Series 2025-2A, Class B</title>
        <cusip>52603GAB2</cusip>
        <identifiers>
          <isin value="US52603GAB23"/>
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        <balance>11025000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10990176.44000000</valUSD>
        <pctVal>0.287104561991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.98000000</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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        <name>M&amp;T Equipment 2024-LEAF1 Notes</name>
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        <name>MVW LLC</name>
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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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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance Issuance 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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance Issuance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marlette Funding Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Marvell Technology, Inc.</name>
        <lei>254900WVU0BM7ZCJ9E93</lei>
        <title>Marvell Technology, Inc.</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Adjustable Rate Mortgages Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Adjustable Rate Mortgages Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Mellon Residential Funding Corp. Mortgage Pass-Through Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MRFC Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
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        <cusip>59020UGF6</cusip>
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        <balance>7812.89000000</balance>
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        <curCd>USD</curCd>
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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>Morgan Stanley Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Dean Witter Capital I, Inc. Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</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>Morgan Stanley Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Private Bank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MTN Commercial Mortgage Trust</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>MVW LLC</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>NAAC Reperforming Loan REMIC Trust Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NXPA Re-REMIC Trust</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>Nationwide Building Society</name>
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        <title>Nationwide Building Society</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Markets plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Neuberger Berman Loan Advisers CLO 42 Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>New Century Home Equity Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>New Residential Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Residential Mortgage Loan Trust</name>
        <lei>213800ECBEJHYYK9P940</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Nomura Asset Acceptance Corp. Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AMSR Trust</name>
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        <cusip>66982GAA5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>AMSR Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <valUSD>4998570.00000000</valUSD>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OCP CLO Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US67116HAJ14"/>
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        <invCountry>JE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NYMT Loan Trust</name>
        <lei>254900Q6RDCV3HGA6340</lei>
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        <cusip>67119RAA5</cusip>
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        <balance>586889.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>586855.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>254900NDJVO62R77II89</lei>
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        <cusip>67121LAA4</cusip>
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          <isin value="US67121LAA44"/>
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        <curCd>USD</curCd>
        <valUSD>4436916.15000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.45299920</annualizedRt>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>254900YXEB756F6RCA13</lei>
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        <cusip>67449DAA7</cusip>
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          <isin value="US67449DAA72"/>
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        <curCd>USD</curCd>
        <valUSD>1753482.27000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Octane Receivables Trust</name>
        <lei>N/A</lei>
        <title>Octane Receivables Trust, Series 2024-3A, Class E</title>
        <cusip>67571GAF9</cusip>
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          <isin value="US67571GAF90"/>
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        <curCd>USD</curCd>
        <valUSD>1619760.78000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.66000000</annualizedRt>
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      <invstOrSec>
        <name>Octane Receivables Trust</name>
        <lei>N/A</lei>
        <title>Octane Receivables Trust, Series 2024-2A, Class D</title>
        <cusip>67578YAE6</cusip>
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        <balance>3801000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3892910.08000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.19000000</annualizedRt>
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      <invstOrSec>
        <name>OAKST Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>OAKST Commercial Mortgage Trust, Series 2023-NLP, Class A</title>
        <cusip>67630KAA0</cusip>
        <identifiers>
          <isin value="US67630KAA07"/>
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        <curCd>USD</curCd>
        <valUSD>929219.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.09490080</annualizedRt>
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      <invstOrSec>
        <name>One Bryant Park Trust</name>
        <lei>N/A</lei>
        <title>One Bryant Park Trust, Series 2019-OBP, Class A</title>
        <cusip>68236JAA9</cusip>
        <identifiers>
          <isin value="US68236JAA97"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4621723.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.51641000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2020-2A, Class B</title>
        <cusip>682696AB5</cusip>
        <identifiers>
          <isin value="US682696AB50"/>
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        <balance>1132000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1100876.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.21000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2019-2A, Class A</title>
        <cusip>68269BAA6</cusip>
        <identifiers>
          <isin value="US68269BAA61"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>592454.94000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.14000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2019-2A, Class B</title>
        <cusip>68269BAB4</cusip>
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          <isin value="US68269BAB45"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4855366.50000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.41000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2019-2A, Class C</title>
        <cusip>68269BAC2</cusip>
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          <isin value="US68269BAC28"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.66000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2021-1A, Class A1</title>
        <cusip>68269MAA2</cusip>
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          <isin value="US68269MAA27"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>OneMain Financial Issuance Trust, Series 2021-1A, Class B</title>
        <cusip>68269MAC8</cusip>
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          <isin value="US68269MAC82"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Onemain Financial Issuance Trust</name>
        <lei>N/A</lei>
        <title>Onemain Financial Issuance Trust, Series 2025-1A, Class C</title>
        <cusip>68270DAC5</cusip>
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          <isin value="US68270DAC56"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>Onity Loan Investment Trust</name>
        <lei>N/A</lei>
        <title>Onity Loan Investment Trust, Series 2025-HB1, Class A</title>
        <cusip>68278EAA9</cusip>
        <identifiers>
          <isin value="US68278EAA91"/>
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        <balance>1236915.85000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2038-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.99999880</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>OneMain Direct Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>OneMain Direct Auto Receivables Trust, Series 2026-1A, Class B</title>
        <cusip>682940AB7</cusip>
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          <isin value="US682940AB70"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5932005.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Funding Trust</name>
        <lei>N/A</lei>
        <title>Oportun Funding Trust, Series 2025-1, Class A</title>
        <cusip>68377PAA4</cusip>
        <identifiers>
          <isin value="US68377PAA49"/>
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        <balance>51546.84000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51557.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-B, Class A</title>
        <cusip>68378QAA1</cusip>
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          <isin value="US68378QAA13"/>
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        <balance>7250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7256612.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-B, Class B</title>
        <cusip>68378QAB9</cusip>
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          <isin value="US68378QAB95"/>
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        <curCd>USD</curCd>
        <valUSD>5004470.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-C, Class A</title>
        <cusip>68378RAA9</cusip>
        <identifiers>
          <isin value="US68378RAA95"/>
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        <balance>10140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10104917.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.49000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-D, Class B</title>
        <cusip>68379HAB8</cusip>
        <identifiers>
          <isin value="US68379HAB87"/>
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        <balance>6300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6290365.41000000</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>2033-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.31000000</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>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XDX0</cusip>
        <identifiers>
          <isin value="US68389XDX03"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9833458.00000000</valUSD>
        <pctVal>0.256886744937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-04</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2026-A, Class A</title>
        <cusip>68390VAA4</cusip>
        <identifiers>
          <isin value="US68390VAA44"/>
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        <balance>12000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11910026.40000000</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>2034-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.32000000</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>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2026-A, Class B</title>
        <cusip>68390VAB2</cusip>
        <identifiers>
          <isin value="US68390VAB27"/>
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        <balance>4220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4205169.23000000</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>2034-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.06000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PFP Ltd.</name>
        <lei>N/A</lei>
        <title>PFP Ltd., Series 2026-14, Class A</title>
        <cusip>69292DAA1</cusip>
        <identifiers>
          <isin value="US69292DAA19"/>
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        <balance>3600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3600000.00000000</valUSD>
        <pctVal>0.094045480417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.97000000</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>PEAC Solutions Receivables LLC</name>
        <lei>N/A</lei>
        <title>PEAC Solutions Receivables LLC, Series 2024-2A, Class A2</title>
        <cusip>69392BAB2</cusip>
        <identifiers>
          <isin value="US69392BAB27"/>
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        <balance>363292.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>363750.51000000</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>2027-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.74000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRET Trust</name>
        <lei>N/A</lei>
        <title>PRET Trust, Series 2024-RPL2, Class A1</title>
        <cusip>69392CAA2</cusip>
        <identifiers>
          <isin value="US69392CAA27"/>
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        <balance>1655741.60000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1571706.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.07499840</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>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM LLC, Series 2025-RPL2, Class A1</title>
        <cusip>69392MAA0</cusip>
        <identifiers>
          <isin value="US69392MAA09"/>
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        <balance>4285388.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4174427.18000000</valUSD>
        <pctVal>0.109051669336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75000120</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pagaya AI Technology in Housing Trust</name>
        <lei>N/A</lei>
        <title>Pagaya AI Technology in Housing Trust, Series 2023-1, Class A</title>
        <cusip>69547YAA8</cusip>
        <identifiers>
          <isin value="US69547YAA82"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3376907.10000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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., Series 2025-1A, Class A2</title>
        <cusip>69704CAC1</cusip>
        <identifiers>
          <isin value="US69704CAC10"/>
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        <balance>4800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4797480.00000000</valUSD>
        <pctVal>0.125328142053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.85106840</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Post Road Equipment Finance LLC</name>
        <lei>N/A</lei>
        <title>Post Road Equipment Finance LLC, Series 2026-1A, Class B</title>
        <cusip>73747RAC9</cusip>
        <identifiers>
          <isin value="US73747RAC97"/>
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        <balance>1690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1686413.14000000</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>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.91000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PowerPay Issuance Trust</name>
        <lei>N/A</lei>
        <title>PowerPay Issuance Trust, Series 2025-1A, Class A</title>
        <cusip>73940MAA9</cusip>
        <identifiers>
          <isin value="US73940MAA99"/>
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        <balance>4351493.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4334435.15000000</valUSD>
        <pctVal>0.113231676672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.23000000</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>Prime Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Prime Mortgage Trust, Series 2005-2, Class 2A1</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2026-SFR2, Class B</title>
        <cusip>74334KAC1</cusip>
        <identifiers>
          <isin value="US74334KAC18"/>
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        <balance>3290000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3151863.10000000</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>2043-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.32000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
        <title>Progress Residential Trust, Series 2025-SFR5, Class A</title>
        <cusip>74334RAA0</cusip>
        <identifiers>
          <isin value="US74334RAA05"/>
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        <balance>31770484.49000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30390187.20000000</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>2042-10-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Purchasing Power Funding LLC</name>
        <lei>N/A</lei>
        <title>Purchasing Power Funding LLC, Series 2026-A, Class A</title>
        <cusip>74614AAA8</cusip>
        <identifiers>
          <isin value="US74614AAA88"/>
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        <balance>4930000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4891318.73000000</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>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKT Mortgage Trust</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust, Series 2025-CES12, Class A1A</title>
        <cusip>749349AA4</cusip>
        <identifiers>
          <isin value="US749349AA42"/>
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        <balance>5812665.46000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5785320.36000000</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>2055-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.02700040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKTL</name>
        <lei>N/A</lei>
        <title>RCKTL, Series 2025-2A, Class B</title>
        <cusip>74939HAB9</cusip>
        <identifiers>
          <isin value="US74939HAB96"/>
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        <balance>3400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3391370.46000000</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>2034-11-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKT Mortgage Trust</name>
        <lei>254900FCN7EI8DTYGA19</lei>
        <title>RCKT Mortgage Trust, Series 2025-CES8, Class A1A</title>
        <cusip>74939WAA8</cusip>
        <identifiers>
          <isin value="US74939WAA80"/>
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        <balance>7290331.15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7278753.38000000</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>2055-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.14773000</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>RCKT Mortgage Trust</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust, Series 2026-CES4, Class A1A</title>
        <cusip>74940CAA9</cusip>
        <identifiers>
          <isin value="US74940CAA99"/>
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        <balance>3997859.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3986189.46000000</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>2056-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.12399880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RCKT Mortgage Trust</name>
        <lei>254900JZ559190WVJ551</lei>
        <title>RCKT Mortgage Trust, Series 2026-CES2, Class A1A</title>
        <cusip>74940EAA5</cusip>
        <identifiers>
          <isin value="US74940EAA55"/>
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        <balance>7237931.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7161677.09000000</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>2056-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.76200080</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RCKT Mortgage Trust</name>
        <lei>254900BTBXWWIQBK4D47</lei>
        <title>RCKT Mortgage Trust, Series 2025-CES11, Class A1A</title>
        <cusip>749423AA7</cusip>
        <identifiers>
          <isin value="US749423AA74"/>
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        <balance>4355030.91000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4325404.07000000</valUSD>
        <pctVal>0.112995751045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.96599840</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>RFMSI Trust</name>
        <lei>N/A</lei>
        <title>RFMSI Trust, Series 2006-SA4, Class 2A1</title>
        <cusip>74958CAB6</cusip>
        <identifiers>
          <isin value="US74958CAB63"/>
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        <balance>102796.67790000</balance>
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        <curCd>USD</curCd>
        <valUSD>87506.36000000</valUSD>
        <pctVal>0.002285993796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.40704160</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>ROCK Trust</name>
        <lei>N/A</lei>
        <title>ROCK Trust, Series 2024-CNTR, Class A</title>
        <cusip>74970WAA8</cusip>
        <identifiers>
          <isin value="US74970WAA80"/>
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        <balance>2380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2413506.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.38834000</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>RFM Re-REMIC Trust</name>
        <lei>N/A</lei>
        <title>RFM Re-REMIC Trust, Series 2022-FRR1, Class AB60</title>
        <cusip>74971BBP9</cusip>
        <identifiers>
          <isin value="US74971BBP94"/>
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        <balance>6500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6387425.85000000</valUSD>
        <pctVal>0.166863481303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.30793480</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>RKTL</name>
        <lei>N/A</lei>
        <title>RKTL, Series 2026-1A, Class B</title>
        <cusip>74990JAB1</cusip>
        <identifiers>
          <isin value="US74990JAB17"/>
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        <balance>2630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2608903.98000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.33000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2026-2A, Class B</title>
        <cusip>754923AB6</cusip>
        <identifiers>
          <isin value="US754923AB60"/>
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        <balance>6680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6681784.90000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.81000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2025-1A, Class A</title>
        <cusip>75525PAA0</cusip>
        <identifiers>
          <isin value="US75525PAA03"/>
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        <balance>258645.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>259031.47000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.96000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2026-1A, Class B</title>
        <cusip>75526XAB0</cusip>
        <identifiers>
          <isin value="US75526XAB01"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1990489.60000000</valUSD>
        <pctVal>0.051999041860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37000000</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>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2026-1A, Class C</title>
        <cusip>75526XAC8</cusip>
        <identifiers>
          <isin value="US75526XAC83"/>
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        <balance>6225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6157458.75000000</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>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Regional Management Issuance Trust</name>
        <lei>N/A</lei>
        <title>Regional Management Issuance Trust, Series 2024-1, Class A</title>
        <cusip>758983AA8</cusip>
        <identifiers>
          <isin value="US758983AA85"/>
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        <curCd>USD</curCd>
        <valUSD>5965954.24000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Regional Management Issuance Trust</name>
        <lei>N/A</lei>
        <title>Regional Management Issuance Trust, Series 2022-1, Class C</title>
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        <identifiers>
          <isin value="US75907DAC11"/>
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        <curCd>USD</curCd>
        <valUSD>1328250.19000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Regional Management Issuance Trust</name>
        <lei>N/A</lei>
        <title>Regional Management Issuance Trust, Series 2021-2, Class A</title>
        <cusip>75907UAA7</cusip>
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          <isin value="US75907UAA79"/>
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        <curCd>USD</curCd>
        <valUSD>5856248.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Regional Management Issuance Trust</name>
        <lei>N/A</lei>
        <title>Regional Management Issuance Trust, Series 2025-1, Class A</title>
        <cusip>75908AAA0</cusip>
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          <isin value="US75908AAA07"/>
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        <balance>4055000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4065076.27000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Republic Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Republic Finance Issuance Trust, Series 2025-A, Class A</title>
        <cusip>76042FAA4</cusip>
        <identifiers>
          <isin value="US76042FAA49"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9934279.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Republic Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Republic Finance Issuance Trust, Series 2026-A, Class B</title>
        <cusip>76042LAB9</cusip>
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          <isin value="US76042LAB99"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4478363.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Trust, Series 2025-5A, Class A3</title>
        <cusip>76089KAC3</cusip>
        <identifiers>
          <isin value="US76089KAC36"/>
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        <balance>7147000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7123918.76000000</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>2034-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83800000</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Asset Trust, Series 2026-2A, Class A2</title>
        <cusip>76091HAB8</cusip>
        <identifiers>
          <isin value="US76091HAB87"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10007014.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-26</maturityDt>
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          <annualizedRt>4.83600000</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Asset Trust, Series 2026-2A, Class A3</title>
        <cusip>76091HAC6</cusip>
        <identifiers>
          <isin value="US76091HAC60"/>
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        <balance>3156000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3160879.18000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-26</maturityDt>
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          <annualizedRt>5.38200000</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Asset Trust, Series 2026-3A, Class A2</title>
        <cusip>76091NAB5</cusip>
        <identifiers>
          <isin value="US76091NAB55"/>
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        <balance>6755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6754241.41000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-26</maturityDt>
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          <annualizedRt>4.85300000</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Asset Trust, Series 2026-3A, Class A3</title>
        <cusip>76091NAC3</cusip>
        <identifiers>
          <isin value="US76091NAC39"/>
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        <balance>3705000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3706483.85000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.37700000</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Trust, Series 2025-6A, Class A3</title>
        <cusip>76100JAC1</cusip>
        <identifiers>
          <isin value="US76100JAC18"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3990239.20000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-25</maturityDt>
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          <annualizedRt>5.01300000</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Asset Trust, Series 2026-1A, Class A3</title>
        <cusip>76100KAC8</cusip>
        <identifiers>
          <isin value="US76100KAC80"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9937148.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.86400000</annualizedRt>
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      <invstOrSec>
        <name>RASC Trust</name>
        <lei>N/A</lei>
        <title>RASC Trust, Series 2003-KS4, Class MI2</title>
        <cusip>76110WRW8</cusip>
        <identifiers>
          <isin value="US76110WRW81"/>
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        <balance>522587.18000000</balance>
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        <curCd>USD</curCd>
        <valUSD>433322.03000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-25</maturityDt>
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          <annualizedRt>5.01000120</annualizedRt>
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      <invstOrSec>
        <name>RFMSI Trust</name>
        <lei>N/A</lei>
        <title>RFMSI Trust, Series 2005-SA2, Class 2A2</title>
        <cusip>76111XVG5</cusip>
        <identifiers>
          <isin value="US76111XVG59"/>
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        <balance>157851.46000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-25</maturityDt>
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          <annualizedRt>5.48669880</annualizedRt>
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      <invstOrSec>
        <name>Roc Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Roc Mortgage Trust, Series 2025-RTL1, Class A1</title>
        <cusip>77119RAA4</cusip>
        <identifiers>
          <isin value="US77119RAA41"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002005.60000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-25</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>RWC Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>RWC Commercial Mortgage Trust, Series 2025-1, Class A</title>
        <cusip>78348LAA8</cusip>
        <identifiers>
          <isin value="US78348LAA89"/>
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        <balance>3652766.86000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3619050.36000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00700000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>SCF Equipment Leasing LLC</name>
        <lei>N/A</lei>
        <title>SCF Equipment Leasing LLC, Series 2025-2A, Class B</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMRT</name>
        <lei>N/A</lei>
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        <cusip>78457JAA0</cusip>
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          <isin value="US78457JAA07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMR Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SMR Mortgage Trust, Series 2022-IND, Class A</title>
        <cusip>78458MAA2</cusip>
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          <isin value="US78458MAA27"/>
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        <balance>7283079.62000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STWD Mortgage Trust</name>
        <lei>N/A</lei>
        <title>STWD Mortgage Trust, Series 2021-LIH, Class B</title>
        <cusip>78486EAJ7</cusip>
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          <isin value="US78486EAJ73"/>
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        <balance>2300000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
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          <isin value="US80281LAX38"/>
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        <balance>4405000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-22</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Santander Bank Auto Credit-Linked Notes</name>
        <lei>N/A</lei>
        <title>Santander Bank Auto Credit-Linked Notes, Series 2024-A, Class C</title>
        <cusip>80290CCK8</cusip>
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          <isin value="US80290CCK80"/>
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        <balance>3673937.05000000</balance>
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        <valUSD>3707870.27000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2024-4, Class D</title>
        <cusip>802919AF7</cusip>
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          <isin value="US802919AF77"/>
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        <balance>10406000.00000000</balance>
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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>2031-12-15</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 2025-4, Class C</title>
        <cusip>802923AE2</cusip>
        <identifiers>
          <isin value="US802923AE23"/>
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        <balance>1140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1135575.32000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SDR Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A</title>
        <cusip>811304AA2</cusip>
        <identifiers>
          <isin value="US811304AA27"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5006250.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.01873840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust, Series 2003-3, Class A2</title>
        <cusip>81743PAU0</cusip>
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          <isin value="US81743PAU03"/>
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        <balance>24701.51000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust, Series 11, Class A</title>
        <cusip>81744AAA6</cusip>
        <identifiers>
          <isin value="US81744AAA60"/>
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        <balance>4372.26000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust, Series 2004-11, Class A2</title>
        <cusip>81744FFK8</cusip>
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          <isin value="US81744FFK84"/>
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        <balance>133116.47000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
        <lei>N/A</lei>
        <title>Sierra Timeshare Receivables Funding LLC, Series 2025-3A, Class A</title>
        <cusip>82650FAA5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
        <lei>N/A</lei>
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        <cusip>82653CAA9</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <title>Sierra Timeshare Receivables Funding LLC, Series 2025-2A, Class A</title>
        <cusip>82653HAA8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RCL4</cusip>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SoFi Professional Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Professional Loan Program Trust, Series 2021-B, Class AFX</title>
        <cusip>83405NAA4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.14000000</annualizedRt>
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        <securityLending>
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        <fairValLevel>2</fairValLevel>
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        <name>STAR Trust</name>
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          <isin value="US85520CAA36"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STAR Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Stellantis Financial Underwritten Enhanced Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Street Capital Group, Inc.</name>
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          <other otherDesc="Inhouse Sedol" value="O28E77A"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Stream Innovations Issuer Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Amortizing Residential Collateral Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Asset Securities Corp. Mortgage Pass-Through Certificates</name>
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          <isin value="US86359AG640"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Asset Securities Corp. Mortgage Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>Structured Asset Securities Corp. Mortgage Pass-Through Certificates, Series 2003-40A, Class 4A</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments II Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>TCI-Flatiron CLO Ltd.</name>
        <lei>N/A</lei>
        <title>TCI-Flatiron CLO Ltd., Series 2018-1A, Class AR2</title>
        <cusip>87232CAA8</cusip>
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          <isin value="US87232CAA80"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tesla Lease Electric Vehicle Securitization LLC</name>
        <lei>N/A</lei>
        <title>Tesla Lease Electric Vehicle Securitization LLC, Series 2025-A, Class A4</title>
        <cusip>88162VAE0</cusip>
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          <isin value="US88162VAE02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Tesla Auto Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tesla Auto Lease Trust</name>
        <lei>N/A</lei>
        <title>Tesla Auto Lease Trust, Series 2024-B, Class A4</title>
        <cusip>881934AE3</cusip>
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          <isin value="US881934AE32"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust, Series 2004-4, Class 5A</title>
        <cusip>885220GK3</cusip>
        <identifiers>
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        <balance>986944.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>878892.66000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.49568920</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toorak Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Toorak Mortgage Trust, Series 2025-RRTL1, Class A1</title>
        <cusip>89053JAB3</cusip>
        <identifiers>
          <isin value="US89053JAB35"/>
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        <balance>1050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1052353.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.52399840</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>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2018-4, Class A1</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>254900HMDJT9KG22DU68</lei>
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        <cusip>89183TAA6</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>25490034D0KGIZRC3Y05</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tricon Residential Trust</name>
        <lei>N/A</lei>
        <title>Tricon Residential Trust, Series 2025-SFR1, Class A</title>
        <cusip>895974AA1</cusip>
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          <isin value="US895974AA11"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tricon American Homes</name>
        <lei>N/A</lei>
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          <isin value="US89613GAA40"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tricon American Homes Trust</name>
        <lei>N/A</lei>
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          <isin value="US89613JAE01"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Tricon Residential Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Tricon Residential Trust</name>
        <lei>N/A</lei>
        <title>Tricon Residential Trust, Series 2024-SFR2, Class A</title>
        <cusip>89616VAA8</cusip>
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        <balance>1644791.83000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1636343.69000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Truist Bank Auto Credit-Linked Notes</name>
        <lei>N/A</lei>
        <title>Truist Bank Auto Credit-Linked Notes, Series 2025-1, Class B</title>
        <cusip>897926CB5</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>20 Times Square Trust</name>
        <lei>N/A</lei>
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          <isin value="US90137LAA89"/>
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        <fairValLevel>2</fairValLevel>
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        <name>UPG HI Issuer Trust</name>
        <lei>N/A</lei>
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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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        <name>United States of America</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>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Upstart Securitization Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UPX HIL Issuer 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>VOLT C LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verdant Receivables LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Veros Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Veros Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vista Point Securitization Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLT XCV LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Volvo Financial Equipment LLC</name>
        <lei>N/A</lei>
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          <isin value="US92886CAC38"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Volvo Financial Equipment LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Voya CLO Ltd., Series 2020-1A, Class ARR</title>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-16</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
        <title>WaMu Mortgage Pass-Through Certificates Trust, Series 2004-AR3, Class A1</title>
        <cusip>92922FNH7</cusip>
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          <isin value="US92922FNH72"/>
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        <balance>172182.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>165091.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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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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        <name>Westlake Automobile Receivables Trust</name>
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          <maturityDt>2030-03-13</maturityDt>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="FVU6COS"/>
          <other otherDesc="Future Ticker" value="FVU6 Comdty"/>
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        <curCd>USD</curCd>
        <valUSD>-1729262.64000000</valUSD>
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        <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">
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              <counterpartyName>CME Clearing House</counterpartyName>
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                <issuerName>United States of America</issuerName>
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            <expDate>2026-09-30</expDate>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="TUU6COM"/>
          <other otherDesc="Future Ticker" value="TUU6 Comdty"/>
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        <curCd>USD</curCd>
        <valUSD>2311285.15000000</valUSD>
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        <fairValLevel>1</fairValLevel>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="TYU6COS"/>
          <other otherDesc="Future Ticker" value="TYU6 Comdty"/>
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        <valUSD>-424248.59000000</valUSD>
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        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Long Bond</title>
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          <other otherDesc="Inhouse Sedol" value="USU6COS"/>
          <other otherDesc="Future Ticker" value="USU6 Comdty"/>
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        <curCd>USD</curCd>
        <valUSD>-460245.94000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
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          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Note</title>
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          <other otherDesc="Inhouse Sedol" value="UXYU6CM"/>
          <other otherDesc="Future Ticker" value="UXYU6 Comdty"/>
        </identifiers>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-751419.27000000</valUSD>
        <pctVal>-0.01962988506</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Short</payOffProf>
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                <issuerName>United States of America</issuerName>
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                  <ticker value="UXYU6 Comdty"/>
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            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>-52847671.88000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-751419.27000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      
      
      
      
      
      
      
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>J.P. Morgan Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
