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        <fairValLevel>2</fairValLevel>
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        <name>ACHD Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIB Group plc</name>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIB Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corebridge Global Funding</name>
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          <isin value="US00138CAV00"/>
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        <balance>645000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Corebridge Global Funding</name>
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          <isin value="US00138CBA53"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Corebridge Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Corebridge Global Funding</name>
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        <title>Corebridge Global Funding</title>
        <cusip>00138CBM9</cusip>
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          <isin value="US00138CBM91"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-09</maturityDt>
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      <invstOrSec>
        <name>AMSR Trust</name>
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          <isin value="US00178YAB74"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>AMSR Trust</name>
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          <isin value="US00180BAA52"/>
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        <balance>940000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>AMSR Trust</name>
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          <isin value="US00180BAB36"/>
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        <balance>1549000.00000000</balance>
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        <curCd>USD</curCd>
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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="US00180BAD91"/>
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        <balance>447000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ASB Bank Ltd.</name>
        <lei>549300IBZWZL1KTPF918</lei>
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        <invCountry>NZ</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Acadia Healthcare Co., Inc.</name>
        <lei>5493005CW985Y9D0NC11</lei>
        <title>Acadia Healthcare Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Accelerated LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ACHM Trust</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Acushnet Co.</name>
        <lei>549300H805O14KEFES79</lei>
        <title>Acushnet Co.</title>
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        <balance>70000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-01</maturityDt>
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        <name>Adient Global Holdings Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Affirm Asset Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ahead DB Holdings LLC</name>
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        <name>Albertsons Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aligned Data Centers Issuer LLC</name>
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        <name>Allison Transmission, Inc.</name>
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        <name>FNMA/FHLMC</name>
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        <name>Ally Bank Auto Credit-Linked Notes</name>
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        <name>Arab Republic of Egypt</name>
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        <name>Argentine Republic (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Brean Asset-Backed Securities Trust</name>
        <lei>N/A</lei>
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          <isin value="US10638PAA12"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
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          <isin value="US10638QAA94"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US107927AE56"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US107927AF22"/>
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        <balance>1569000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1555937.29000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.99000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
        <title>Bridgecrest Lending Auto Securitization Trust, Series 2024-1, Class C</title>
        <cusip>107933AE3</cusip>
        <identifiers>
          <isin value="US107933AE33"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1507760.25000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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        <cusip>10805MAG2</cusip>
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          <isin value="US10805MAG24"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>825697.04000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.21000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US10805NAD75"/>
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        <balance>1432554.86000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1435236.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-16</maturityDt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US10805NAE58"/>
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        <balance>1009000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-16</maturityDt>
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          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
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          <isin value="US10806EAE41"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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          <isin value="US10806EAG98"/>
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        <balance>950000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bridge Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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      <invstOrSec>
        <name>Bridgecrest Lending Auto Securitization Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>1564245.49000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <name>Brink's Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Buckeye Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Builders FirstSource, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bunge Ltd. Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Business Jet Securities LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>BX Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BXG Receivables Note Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CAFL Issuer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings 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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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Community Health Systems, Inc.</name>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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          <isin value="US12592KBH68"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CSC Holdings LLC</name>
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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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CNX Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CPS Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CPS Auto Receivables 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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        <name>CSTL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CSTL Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CSTL Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Caesars Entertainment, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CAFL Issuer LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Garden &amp; Pet Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Garden &amp; Pet Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chart Industries, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Chemours Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Cheniere Energy Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cherry Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Churchill Downs, Inc.</name>
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        <name>Cinemark USA, Inc.</name>
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        <name>Citi Asset Receivables Trust I</name>
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        <name>SM Energy Co.</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>DTE Energy Co.</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>DT Auto Owner Trust</name>
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        <name>DaVita, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DRC International Bond</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <curCd>USD</curCd>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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          <isin value="US251526CU14"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526DD8</cusip>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Dext ABS LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Diebold Nixdorf, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Digicel International Finance Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH Network Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DLIC Re-REMIC Trust</name>
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        <fairValLevel>3</fairValLevel>
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        <name>DNB Bank ASA</name>
        <lei>549300GKFG0RYRRQ1414</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Drive Auto Receivables Trust, Series 2025-2, Class C</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Ecopetrol SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Ecuador</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Edged Compute LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Edgewell Personal Care Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Elara HGV Timeshare Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Elastic NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Elara Hgv Timeshare Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Element Fleet Management Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELP Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELP Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Encompass Health Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Energizer Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>EnerSys</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ENEL Finance International NV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <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>Plurinational State of Bolivia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Exeter Automobile Receivables Trust</name>
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        <name>Exeter Automobile Receivables Trust</name>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
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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="US30166XAF15"/>
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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="US30167FAF99"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
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          <isin value="US30167KAE10"/>
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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="US30167KAF84"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2022-6A, Class D</title>
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          <isin value="US30168AAF93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2023-5A, Class D</title>
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          <isin value="US30168DAF33"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Exeter Automobile Receivables Trust, Series 2026-1A, Class C</title>
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          <isin value="US30168HAE71"/>
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        <curCd>USD</curCd>
        <valUSD>1598118.17000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Exeter Automobile Receivables Trust</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US30168HAF47"/>
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        <curCd>USD</curCd>
        <valUSD>2034568.67000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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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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        <identifiers>
          <isin value="US30168JAF03"/>
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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>Exeter Select Automobile Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US30185FAE07"/>
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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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          <isin value="US302673AG32"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <isin value="US302673AJ70"/>
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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="US302673AL27"/>
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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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          <isin value="US30289SAN71"/>
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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>
        <lei>N/A</lei>
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          <isin value="US30289SAS68"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-25</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K83, Class D</title>
        <cusip>302958AS2</cusip>
        <identifiers>
          <isin value="US302958AS26"/>
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        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1139481.14000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2016-K57, Class C</title>
        <cusip>30295DAJ1</cusip>
        <identifiers>
          <isin value="US30295DAJ19"/>
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        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184234.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.86238960</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K82, Class X2A</title>
        <cusip>30297LAA0</cusip>
        <identifiers>
          <isin value="US30297LAA08"/>
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        <balance>10339340.58000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18439.18000000</valUSD>
        <pctVal>0.001252567168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K82, Class X2B</title>
        <cusip>30297LAC6</cusip>
        <identifiers>
          <isin value="US30297LAC63"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6293.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2018-K82, Class D</title>
        <cusip>30297LAJ1</cusip>
        <identifiers>
          <isin value="US30297LAJ17"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>830431.50000000</valUSD>
        <pctVal>0.056410926766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-KC07, Class C</title>
        <cusip>302988AN0</cusip>
        <identifiers>
          <isin value="US302988AN09"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510625.38000000</valUSD>
        <pctVal>0.034686606802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.57991200</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-K68, Class D</title>
        <cusip>30305EAJ7</cusip>
        <identifiers>
          <isin value="US30305EAJ73"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>899975.80000000</valUSD>
        <pctVal>0.061135047196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-K93, Class C</title>
        <cusip>30313FAU9</cusip>
        <identifiers>
          <isin value="US30313FAU93"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1940615.00000000</valUSD>
        <pctVal>0.131825310874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12140240</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K113, Class D</title>
        <cusip>30315KAE2</cusip>
        <identifiers>
          <isin value="US30315KAE29"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>709613.70000000</valUSD>
        <pctVal>0.048203815081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FS Luxembourg Sarl</name>
        <lei>222100EKR3JUJPGGOY81</lei>
        <title>FS Luxembourg SARL</title>
        <cusip>30315XAC8</cusip>
        <identifiers>
          <isin value="US30315XAC83"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>206000.00000000</valUSD>
        <pctVal>0.013993509294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-KSG1, Class X2A</title>
        <cusip>30316JAJ3</cusip>
        <identifiers>
          <isin value="US30316JAJ34"/>
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        <balance>5319042.66000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17156.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-KSG1, Class X2B</title>
        <cusip>30316JAL8</cusip>
        <identifiers>
          <isin value="US30316JAL89"/>
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        <balance>431153.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1502.35000000</valUSD>
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        <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>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-KSG1, Class C</title>
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          <isin value="US30316JAN46"/>
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        <balance>431153.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K118, Class X2A</title>
        <cusip>30316TAN2</cusip>
        <identifiers>
          <isin value="US30316TAN28"/>
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        <balance>11877833.03000000</balance>
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        <valUSD>39351.26000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K118, Class X2B</title>
        <cusip>30316TAQ5</cusip>
        <identifiers>
          <isin value="US30316TAQ58"/>
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        <balance>2457000.00000000</balance>
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        <valUSD>8559.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K118, Class D</title>
        <cusip>30316TAS1</cusip>
        <identifiers>
          <isin value="US30316TAS15"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>787653.46000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-25</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2021-K126, Class X2A</title>
        <cusip>30319DAA2</cusip>
        <identifiers>
          <isin value="US30319DAA28"/>
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        <balance>10245552.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36257.98000000</valUSD>
        <pctVal>0.002462992136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-25</maturityDt>
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          <annualizedRt>0.10000000</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>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2021-K126, Class X2B</title>
        <cusip>30319DAC8</cusip>
        <identifiers>
          <isin value="US30319DAC83"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
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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>FRTKL</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fair Isaac Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHF 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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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Pool</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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <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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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K120, Class X1</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <cusip>3137F83S0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137F8ZX4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137F9YZ8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K125, Class X3</title>
        <cusip>3137F9ZB0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4718, Class DA</title>
        <cusip>3137FAST6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K068, Class X1</title>
        <cusip>3137FBBZ8</cusip>
        <identifiers>
          <isin value="US3137FBBZ81"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4754, Class VG</title>
        <cusip>3137FDUF7</cusip>
        <identifiers>
          <isin value="US3137FDUF72"/>
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        <balance>34748.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34698.03000000</valUSD>
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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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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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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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <title>FHLMC, REMIC, Series 5516, Class DV</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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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA UMBS, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FirstKey Homes Trust</name>
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          <isin value="US33768NAN21"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Flash Compute LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>549300MQ65NOVQXYNB21</lei>
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        <cusip>35041LAA8</cusip>
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          <isin value="US35041LAA89"/>
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        <balance>33961.86000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>N/A</lei>
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          <isin value="US35042AAB98"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>N/A</lei>
        <title>Foundation Finance Trust, Series 2025-3A, Class A</title>
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          <isin value="US35042TAA07"/>
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        <balance>1782679.61000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundry JV Holdco LLC</name>
        <lei>21380048QROAMGM6EP30</lei>
        <title>Foundry JV Holdco LLC</title>
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          <isin value="US350930AB92"/>
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        <balance>1690000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>529900ZTXRUUVE8G8W08</lei>
        <title>FHLMC STACR REMIC Trust, Series 2023-HQA3, Class M2</title>
        <cusip>35564NAA1</cusip>
        <identifiers>
          <isin value="US35564NAA19"/>
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        <balance>725000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>5299009HC4IGFM6RXF30</lei>
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        <cusip>35564UAQ0</cusip>
        <identifiers>
          <isin value="US35564UAQ04"/>
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        <balance>1137500.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>529900KABSM46L5D1T20</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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          <isin value="US35690AAU25"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF 2020-K740 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF 2020-K740 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FREMF 2020-K740 Mortgage Trust</name>
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        <title>FREMF Mortgage Trust, Series 2020-K740, Class D</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GFL Environmental, Inc.</name>
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        <title>GFL Environmental, Inc.</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GFL Environmental, Inc.</name>
        <lei>894500E7NLBY9VZRT696</lei>
        <title>GFL Environmental, Inc.</title>
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        <invCountry>CA</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GFL Environmental, Inc.</name>
        <lei>894500E7NLBY9VZRT696</lei>
        <title>GFL Environmental, Inc.</title>
        <cusip>36168QAQ7</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust, Series 2023-PJ5, Class A16</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Select Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Receivables Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities 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>2549005U12N6A8G3H936</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed 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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        <name>HUB International Ltd.</name>
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        <name>Huntington Bank Auto Credit-Linked Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>INEOS Finance plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>iHeartCommunications, Inc.</name>
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        <name>Identity Digital Capital LLC</name>
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        <name>Ingram Micro, Inc.</name>
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        <name>Crescent Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Instituto Costarricense de Electricidad</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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        <fairValLevel>2</fairValLevel>
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        <name>Istanbul Metropolitan Municipality</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JELD-WEN, Inc.</name>
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        <name>JetBlue Airways Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KBC Group NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KBC Group NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KBC Group NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KKR Static CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Kenya</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kinder Morgan, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Kingston Airport Revenue Finance Ltd.</name>
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        <name>LCM Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lamar Media Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lending Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crescent Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Legacy Mortgage Asset Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lendmark Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lennar Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lendmark Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Level 3 Financing, Inc.</name>
        <lei>254900AE5FEFIJOXWL19</lei>
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        <name>Life Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lincoln Financial Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lithia Motors, Inc.</name>
        <lei>SE8N1EZEHPZQBCBVKD53</lei>
        <title>Lithia Motors, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Macquarie Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison IAQ LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison Park Funding XLIX Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison Park Funding XLVI Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Discovery Global Holdings, Inc.</name>
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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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        <name>Mariner Finance Issuance Trust</name>
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        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NCR Atleos Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NOVA Chemicals Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AMSR Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Novelis Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NuStar Logistics LP</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>Chord Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Octane Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ON Semiconductor Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OLIT</name>
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        <fairValLevel>3</fairValLevel>
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        <name>OneMain Direct Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2021-B, Class B</title>
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          <isin value="US68377GAB23"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oportun Funding Trust</name>
        <lei>N/A</lei>
        <title>Oportun Funding Trust, Series 2024-3, Class B</title>
        <cusip>68377NAB7</cusip>
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          <isin value="US68377NAB73"/>
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        <curCd>USD</curCd>
        <valUSD>618938.74000000</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>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-C, Class B</title>
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          <isin value="US68378RAB78"/>
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        <balance>1250000.00000000</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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          <maturityDt>2033-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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          <isin value="US68378RAC51"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>744289.28000000</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>2033-07-08</maturityDt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-D, Class C</title>
        <cusip>68379HAC6</cusip>
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          <isin value="US68379HAC60"/>
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        <balance>768000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>768190.54000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US68389XDX03"/>
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        <balance>4360000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
          <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 2026-A, Class C</title>
        <cusip>68390VAC0</cusip>
        <identifiers>
          <isin value="US68390VAC00"/>
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        <balance>933000.00000000</balance>
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        <curCd>USD</curCd>
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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>5.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
        <title>Outfront Media Capital LLC</title>
        <cusip>69007TAE4</cusip>
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          <isin value="US69007TAE47"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>195190.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Outfront Media Capital LLC</name>
        <lei>N/A</lei>
        <title>Outfront Media Capital LLC</title>
        <cusip>69007TAG9</cusip>
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          <isin value="US69007TAG94"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>88648.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>Accendra Health, Inc.</name>
        <lei>549300LMT5KQQXCEZ733</lei>
        <title>Accendra Health, Inc.</title>
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          <isin value="US690732AF97"/>
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        <balance>152000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119801.69000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>PFP Ltd.</name>
        <lei>N/A</lei>
        <title>PFP Ltd., Series 2026-14, Class A</title>
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          <isin value="US69292DAA19"/>
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        <balance>1390000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PRET LLC</name>
        <lei>2549002NGM9N1GT2FK83</lei>
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          <isin value="US69383TAA60"/>
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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>
        <debtSec>
          <maturityDt>2056-01-25</maturityDt>
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      <invstOrSec>
        <name>PR RNO Property Owner 1 LLC</name>
        <lei>N/A</lei>
        <title>PR RNO Property Owner 1 LLC</title>
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          <isin value="US69393LAA17"/>
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        <balance>225000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Islamic Republic of Pakistan</name>
        <lei>529900LOP29R5WKHOD86</lei>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PK</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Penske Automotive Group, Inc.</name>
        <lei>549300W7UTQ0M4C7LB15</lei>
        <title>Penske Automotive Group, Inc.</title>
        <cusip>70959WAK9</cusip>
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          <isin value="US70959WAK99"/>
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        <balance>64000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61338.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Permian Resources Operating LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating LLC</title>
        <cusip>71424VAA8</cusip>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>349313.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Post Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PowerPay Issuance Trust</name>
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        <name>Prestige Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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          <isin value="US74334GAG10"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Purewest ABS Issuer LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Qnity Electronics, Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QXO Building Products, Inc.</name>
        <lei>549300HDXQWWCBOYXP31</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Mortgage LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Quikrete Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RCKT Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RCKTL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RCKT Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RCKT Mortgage Trust</name>
        <lei>254900JZ559190WVJ551</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>RCKT Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RHP Hotel Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROCK Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Range Resources Corp.</name>
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        <title>Range Resources Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2026-2A, Class C</title>
        <cusip>754923AC4</cusip>
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        <balance>1150000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>RTX Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2026-1A, Class B</title>
        <cusip>75526XAB0</cusip>
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          <isin value="US75526XAB01"/>
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        <balance>1771000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.37000000</annualizedRt>
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        <name>Reach ABS Trust</name>
        <lei>N/A</lei>
        <title>Reach ABS Trust, Series 2026-1A, Class C</title>
        <cusip>75526XAC8</cusip>
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          <isin value="US75526XAC83"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>Anywhere Real Estate Group LLC</name>
        <lei>N/A</lei>
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        <cusip>75606DAL5</cusip>
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        <balance>284000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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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>
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          <isin value="US758983AA85"/>
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        <balance>1500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Republic Finance Issuance Trust, Series 2024-A, Class A</title>
        <cusip>76041RAA9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Republic Finance Issuance Trust, Series 2025-A, Class A</title>
        <cusip>76042FAA4</cusip>
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          <isin value="US76042FAA49"/>
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        <balance>2540000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Republic Finance Issuance Trust, Series 2024-B, Class A</title>
        <cusip>76042GAA2</cusip>
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          <isin value="US76042GAA22"/>
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        <balance>1513000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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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>
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        <balance>2500000.00000000</balance>
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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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          <annualizedRt>4.83600000</annualizedRt>
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      <invstOrSec>
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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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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SMRT</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SS&amp;C Technologies, Inc.</name>
        <lei>549300KY09TR3J12JU49</lei>
        <title>SS&amp;C Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SS&amp;C Technologies, Inc.</name>
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        <title>SS&amp;C Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STWD Mortgage Trust</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SV RNO Property Owner 1 LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Saavi Energia Sarl</name>
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        <title>Saavi Energia SARL</title>
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        <invCountry>LU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Bank Auto Credit-Linked Notes</name>
        <lei>N/A</lei>
        <title>Santander Bank Auto Credit-Linked Notes, Series 2024-B, Class C</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander UK Group Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Bank Auto Credit-Linked Notes</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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          <isin value="US802923AD40"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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          <isin value="US802923AF97"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Santander Drive Auto Receivables Trust, Series 2023-4, Class C</title>
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          <isin value="US802927AF02"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Scotts Miracle-Gro Co. (The)</name>
        <lei>2TH9E0JTOUXOEGI2R879</lei>
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          <isin value="US810186AS55"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Scripps Escrow II, Inc.</name>
        <lei>N/A</lei>
        <title>Scripps Escrow II, Inc.</title>
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          <isin value="US81105DAA37"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SDR Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>SDR Commercial Mortgage Trust, Series 2024-DSNY, Class A</title>
        <cusip>811304AA2</cusip>
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          <isin value="US811304AA27"/>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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          <isin value="US811304AE49"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
        <lei>N/A</lei>
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        <invCountry>SG</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Sensata Technologies BV</name>
        <lei>PUCKW5P5O3XMOZVH7T53</lei>
        <title>Sensata Technologies BV</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Sensata Technologies, Inc.</name>
        <lei>5493002MMDDCUNV7NY90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Sensata Technologies, Inc.</name>
        <lei>5493002MMDDCUNV7NY90</lei>
        <title>Sensata Technologies, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Service Corp. International</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp. International</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Stream Innovations Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.25000000</annualizedRt>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>Superior Plus LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Suriname Government International Bond</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Suriname Government International Bond</name>
        <lei>254900SYU4G5JM13TN77</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Synaptics, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Symphony CLO XVI Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Symphony CLO XX Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Tallgrass Energy Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Somnigroup International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Terex Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Termocandelaria Power SA</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Toorak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Trust</name>
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        <name>Trans-Allegheny Interstate Line Co.</name>
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        <name>TransDigm, Inc.</name>
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        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Tricon Residential Trust</name>
        <lei>N/A</lei>
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        <name>Tricon Residential 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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        <name>Coherent Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>UPG HI Issuer Trust</name>
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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>United Rentals North America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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      <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>
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  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
