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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>American Airlines, Inc.</name>
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        <name>Acadia Healthcare Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AerCap Ireland Capital DAC</name>
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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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        <fairValLevel>2</fairValLevel>
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        <name>Albertsons Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Angola</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>APLD ComputeCo 2 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aqua Finance Issuer Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aqua Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aqua Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arab Republic of Egypt</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Aramark Services, Inc.</name>
        <lei>42YMHYH0XMHJEXDUB065</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Arbor Realty SR, Inc.</name>
        <lei>549300TW7RTL2CI3CN08</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Arches Buyer, Inc.</name>
        <lei>2549009ADY4208OH2Y47</lei>
        <title>Arches Buyer, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Archrock Partners 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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</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>
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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>Bridge Trust</name>
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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>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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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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        <fairValLevel>2</fairValLevel>
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        <name>Builders FirstSource, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</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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        <name>CCO Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC</name>
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        <name>CF Hippolyta Issuer LLC</name>
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        <name>Community Health Systems, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CIM Trust</name>
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        <title>CIM Trust, Series 2019-INV2, Class A11</title>
        <cusip>12554TAL5</cusip>
        <identifiers>
          <isin value="US12554TAL52"/>
        </identifiers>
        <balance>51197.04000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49098.07000000</valUSD>
        <pctVal>0.000731866096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.67658000</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-UBS3, Class B</title>
        <cusip>12591YBF1</cusip>
        <identifiers>
          <isin value="US12591YBF16"/>
        </identifiers>
        <balance>1738117.27000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1681611.08000000</valUSD>
        <pctVal>0.025066446338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.31300000</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-UBS5, Class C</title>
        <cusip>12592KBH6</cusip>
        <identifiers>
          <isin value="US12592KBH68"/>
        </identifiers>
        <balance>2750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2552158.13000000</valUSD>
        <pctVal>0.038043002673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.72492080</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2015-LC21, Class D</title>
        <cusip>12593FBJ2</cusip>
        <identifiers>
          <isin value="US12593FBJ21"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>942220.00000000</valUSD>
        <pctVal>0.014044928312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.24487880</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2015-CR26, Class B</title>
        <cusip>12593QBH2</cusip>
        <identifiers>
          <isin value="US12593QBH20"/>
        </identifiers>
        <balance>799752.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>782126.28000000</valUSD>
        <pctVal>0.011658537851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.68127080</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>CSC Holdings LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
        <cusip>126307AZ0</cusip>
        <identifiers>
          <isin value="US126307AZ02"/>
        </identifiers>
        <balance>1780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1045977.66000000</valUSD>
        <pctVal>0.015591561685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-CR14, Class B</title>
        <cusip>12630DBB9</cusip>
        <identifiers>
          <isin value="US12630DBB91"/>
        </identifiers>
        <balance>1533527.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1512365.12000000</valUSD>
        <pctVal>0.022543630673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.19043880</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>Consumer Portfolio Services Auto Trust</name>
        <lei>N/A</lei>
        <title>Consumer Portfolio Services Auto Trust, Series 2025-B, Class C</title>
        <cusip>12630SAC5</cusip>
        <identifiers>
          <isin value="US12630SAC52"/>
        </identifiers>
        <balance>11060000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11127802.22000000</valUSD>
        <pctVal>0.165873346415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12000000</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>Consumer Portfolio Services Auto Trust</name>
        <lei>N/A</lei>
        <title>Consumer Portfolio Services Auto Trust, Series 2025-A, Class C</title>
        <cusip>12633SAC2</cusip>
        <identifiers>
          <isin value="US12633SAC26"/>
        </identifiers>
        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11071143.60000000</valUSD>
        <pctVal>0.165028781180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2025-C, Class C</title>
        <cusip>12634SAC1</cusip>
        <identifiers>
          <isin value="US12634SAC17"/>
        </identifiers>
        <balance>14220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14242402.19000000</valUSD>
        <pctVal>0.212300224747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.91000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNX Resources Corp.</name>
        <lei>549300JK3KH8PWM3B226</lei>
        <title>CNX Resources Corp.</title>
        <cusip>12653CAM0</cusip>
        <identifiers>
          <isin value="US12653CAM01"/>
        </identifiers>
        <balance>695000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>684151.61000000</valUSD>
        <pctVal>0.010198106936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>CPS Auto Receivables Trust, Series 2022-A, Class D</title>
        <cusip>12659WAG3</cusip>
        <identifiers>
          <isin value="US12659WAG33"/>
        </identifiers>
        <balance>1484065.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1481981.95000000</valUSD>
        <pctVal>0.022090732789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.84000000</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>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2004-25CB, Class A1</title>
        <cusip>12667FWJ0</cusip>
        <identifiers>
          <isin value="US12667FWJ01"/>
        </identifiers>
        <balance>103902.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89609.37000000</valUSD>
        <pctVal>0.001335736004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2006-HYB2, Class 2A1B</title>
        <cusip>126694D21</cusip>
        <identifiers>
          <isin value="US126694D216"/>
        </identifiers>
        <balance>58738.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55687.85000000</valUSD>
        <pctVal>0.000830094734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.43791440</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>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2005-J2, Class 3A8</title>
        <cusip>12669GV73</cusip>
        <identifiers>
          <isin value="US12669GV738"/>
        </identifiers>
        <balance>451699.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278858.75000000</valUSD>
        <pctVal>0.004156726829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>CSTL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSTL Commercial Mortgage Trust, Series 2025-GATE2, Class C</title>
        <cusip>12676JAE6</cusip>
        <identifiers>
          <isin value="US12676JAE64"/>
        </identifiers>
        <balance>1625000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1589587.68000000</valUSD>
        <pctVal>0.023694726298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.14378080</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>CSTL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSTL Commercial Mortgage Trust, Series 2025-GATE2, Class D</title>
        <cusip>12676JAG1</cusip>
        <identifiers>
          <isin value="US12676JAG13"/>
        </identifiers>
        <balance>2530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2480282.97000000</valUSD>
        <pctVal>0.036971616511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.62885920</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>CSTL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSTL Commercial Mortgage Trust, Series 2025-GATE2, Class E</title>
        <cusip>12676JAJ5</cusip>
        <identifiers>
          <isin value="US12676JAJ51"/>
        </identifiers>
        <balance>4725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4642564.34000000</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>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Six Flags Entertainment Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Celanese US Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Celanese US Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Garden &amp; Pet Co.</name>
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        <title>Central Garden &amp; Pet Co.</title>
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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>CFMT LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Chart Industries, Inc.</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
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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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        <name>Chemours Co. (The)</name>
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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>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <name>SM Energy Co.</name>
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        <name>Clarivate Science Holdings Corp.</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
        <lei>254900XBEE6V1ENYS150</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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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS Group AG</name>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSFB Mortgage-Backed Pass-Through Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crossroads Asset 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>CSTL Commercial Mortgage Trust</name>
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        <name>DT Midstream, Inc.</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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        <name>DT Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DT Auto Owner Trust</name>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
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          <isin value="US25470XBE40"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
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          <isin value="US25470XBF15"/>
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        <curCd>USD</curCd>
        <valUSD>1025505.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DLIC Re-REMIC Trust</name>
        <lei>N/A</lei>
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          <isin value="US255928AE37"/>
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        <curCd>USD</curCd>
        <valUSD>4431409.65000000</valUSD>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2049-08-27</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>DNB Bank ASA</name>
        <lei>549300GKFG0RYRRQ1414</lei>
        <title>DNB Bank ASA</title>
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          <isin value="US25601B2E49"/>
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        <balance>11980000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11784560.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-04</maturityDt>
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      <invstOrSec>
        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
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        <cusip>25714PED6</cusip>
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          <isin value="US25714PED69"/>
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        <balance>1940000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-30</maturityDt>
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      <invstOrSec>
        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic Government Bond</title>
        <cusip>25714PET1</cusip>
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          <isin value="US25714PET12"/>
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        <balance>1140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1202985.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Drive Auto Receivables Trust, Series 2024-2, Class C</title>
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          <isin value="US26207AAF03"/>
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        <balance>4775000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-17</maturityDt>
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        <name>Drive Auto Receivables Trust</name>
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          <isin value="US26207AAG85"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.94000000</annualizedRt>
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      <invstOrSec>
        <name>Driven Brands Funding LLC</name>
        <lei>N/A</lei>
        <title>Driven Brands Funding LLC, Series 2021-1A, Class A2</title>
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        <balance>4924129.66000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4572100.68000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.79100000</annualizedRt>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Drive Auto Receivables Trust, Series 2025-1, Class D</title>
        <cusip>262102AF3</cusip>
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          <isin value="US262102AF30"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Drive Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Drive Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Dycom Industries, Inc.</name>
        <lei>549300F56EKTHQI3WT60</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>EFMT</name>
        <lei>254900CMJGXNT3R7H775</lei>
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        <cusip>26846VAA2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Ecopetrol SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
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        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Republic of Ecuador</name>
        <lei>5299003Y2U5XK0A35H71</lei>
        <title>Republic of Ecuador</title>
        <cusip>27927WAQ5</cusip>
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        <balance>715000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EC</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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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        </debtSec>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K115, Class X2B</title>
        <cusip>302673AL2</cusip>
        <identifiers>
          <isin value="US302673AL27"/>
        </identifiers>
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        <valUSD>61767.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2020-K739, Class X2A</title>
        <cusip>30289SAN7</cusip>
        <identifiers>
          <isin value="US30289SAN71"/>
        </identifiers>
        <balance>67213139.75000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50866.90000000</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>2053-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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 2020-K739, Class X2B</title>
        <cusip>30289SAQ0</cusip>
        <identifiers>
          <isin value="US30289SAQ03"/>
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        <balance>17500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17204.25000000</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>2053-11-25</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 2020-K739, Class D</title>
        <cusip>30289SAS6</cusip>
        <identifiers>
          <isin value="US30289SAS68"/>
        </identifiers>
        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6058994.90000000</valUSD>
        <pctVal>0.090316644752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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</name>
        <lei>N/A</lei>
        <title>FREMF, Series 2018-KF46, Class B</title>
        <cusip>302955AC3</cusip>
        <identifiers>
          <isin value="US302955AC35"/>
        </identifiers>
        <balance>9819.01000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9550.39000000</valUSD>
        <pctVal>0.000142360110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.71365000</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 2018-K83, Class D</title>
        <cusip>302958AS2</cusip>
        <identifiers>
          <isin value="US302958AS26"/>
        </identifiers>
        <balance>6900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5616014.19000000</valUSD>
        <pctVal>0.083713481673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-25</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 Trust</name>
        <lei>N/A</lei>
        <title>FREMF Trust, Series 2018-KW04, Class C</title>
        <cusip>30296MAG6</cusip>
        <identifiers>
          <isin value="US30296MAG69"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3508792.50000000</valUSD>
        <pctVal>0.052302794599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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 2019-K89, Class C</title>
        <cusip>302972AU8</cusip>
        <identifiers>
          <isin value="US302972AU81"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5863666.80000000</valUSD>
        <pctVal>0.087405043255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.29033600</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 2018-K82, Class X2A</title>
        <cusip>30297LAA0</cusip>
        <identifiers>
          <isin value="US30297LAA08"/>
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        <balance>94818332.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>169099.01000000</valUSD>
        <pctVal>0.002520625197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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 2018-K82, Class X2B</title>
        <cusip>30297LAC6</cusip>
        <identifiers>
          <isin value="US30297LAC63"/>
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        <balance>24694906.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51807.44000000</valUSD>
        <pctVal>0.000772252532</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>Fixed</couponKind>
          <annualizedRt>0.10000000</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 2018-K82, Class D</title>
        <cusip>30297LAJ1</cusip>
        <identifiers>
          <isin value="US30297LAJ17"/>
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        <balance>9392906.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7800165.02000000</valUSD>
        <pctVal>0.116270890592</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 2020-K107, Class D</title>
        <cusip>302982AA1</cusip>
        <identifiers>
          <isin value="US302982AA18"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6201567.75000000</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>2030-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50519040</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>4700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3999898.81000000</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>2029-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.57991200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>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>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7199806.40000000</valUSD>
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        <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>
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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 2017-KF38, Class B</title>
        <cusip>30305MAG5</cusip>
        <identifiers>
          <isin value="US30305MAG50"/>
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        <balance>54915.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54895.96000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.26365080</annualizedRt>
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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 2019-KC06, Class B</title>
        <cusip>30312MAL5</cusip>
        <identifiers>
          <isin value="US30312MAL54"/>
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        <balance>7600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7512756.56000000</valUSD>
        <pctVal>0.111986719998</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.85203600</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>8652000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8395100.49000000</valUSD>
        <pctVal>0.125139123093</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>
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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 2020-K113, Class D</title>
        <cusip>30315KAE2</cusip>
        <identifiers>
          <isin value="US30315KAE29"/>
        </identifiers>
        <balance>9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6386523.30000000</valUSD>
        <pctVal>0.095198851560</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"/>
        </identifiers>
        <balance>523000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>538690.00000000</valUSD>
        <pctVal>0.008029825765</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>
          <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>30315XAD6</cusip>
        <identifiers>
          <isin value="US30315XAD66"/>
        </identifiers>
        <balance>1070000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1061975.00000000</valUSD>
        <pctVal>0.015830021380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</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-KSG1, Class X2A</title>
        <cusip>30316JAJ3</cusip>
        <identifiers>
          <isin value="US30316JAJ34"/>
        </identifiers>
        <balance>67213357.28000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216789.96000000</valUSD>
        <pctVal>0.003231516468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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-KSG1, Class X2B</title>
        <cusip>30316JAL8</cusip>
        <identifiers>
          <isin value="US30316JAL89"/>
        </identifiers>
        <balance>4100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14286.45000000</valUSD>
        <pctVal>0.000212956810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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-KSG1, Class C</title>
        <cusip>30316JAN4</cusip>
        <identifiers>
          <isin value="US30316JAN46"/>
        </identifiers>
        <balance>4100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2904440.41000000</valUSD>
        <pctVal>0.043294195991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-25</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 2020-K118, Class X2A</title>
        <cusip>30316TAN2</cusip>
        <identifiers>
          <isin value="US30316TAN28"/>
        </identifiers>
        <balance>80985225.22000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268304.05000000</valUSD>
        <pctVal>0.003999396264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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-K118, Class X2B</title>
        <cusip>30316TAQ5</cusip>
        <identifiers>
          <isin value="US30316TAQ58"/>
        </identifiers>
        <balance>16750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58353.65000000</valUSD>
        <pctVal>0.000869831707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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-K118, Class D</title>
        <cusip>30316TAS1</cusip>
        <identifiers>
          <isin value="US30316TAS15"/>
        </identifiers>
        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5370364.50000000</valUSD>
        <pctVal>0.080051776035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-25</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 2021-K126, Class X2A</title>
        <cusip>30319DAA2</cusip>
        <identifiers>
          <isin value="US30319DAA28"/>
        </identifiers>
        <balance>97236484.20000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344110.19000000</valUSD>
        <pctVal>0.005129378436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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 2021-K126, Class X2B</title>
        <cusip>30319DAC8</cusip>
        <identifiers>
          <isin value="US30319DAC83"/>
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        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95260.00000000</valUSD>
        <pctVal>0.001419965476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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 2021-K126, Class D</title>
        <cusip>30319DAE4</cusip>
        <identifiers>
          <isin value="US30319DAE40"/>
        </identifiers>
        <balance>9500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6509994.70000000</valUSD>
        <pctVal>0.097039342063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>F&amp;G Global Funding</name>
        <lei>6354009CCUKJIZ7KFX73</lei>
        <title>F&amp;G Global Funding</title>
        <cusip>30321L2G6</cusip>
        <identifiers>
          <isin value="US30321L2G69"/>
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        <balance>9710000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9823248.51000000</valUSD>
        <pctVal>0.146427396067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRTKL</name>
        <lei>N/A</lei>
        <title>FRTKL, Series 2021-SFR1, Class D</title>
        <cusip>30322DAG4</cusip>
        <identifiers>
          <isin value="US30322DAG43"/>
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        <balance>6762000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6690944.90000000</valUSD>
        <pctVal>0.099736623576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.17200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRTKL</name>
        <lei>N/A</lei>
        <title>FRTKL, Series 2021-SFR1, Class E1</title>
        <cusip>30322DAS8</cusip>
        <identifiers>
          <isin value="US30322DAS80"/>
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        <balance>3750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3710973.38000000</valUSD>
        <pctVal>0.055316545067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fair Isaac Corp.</name>
        <lei>RI6HET5SJUEY30V1PS26</lei>
        <title>Fair Isaac Corp.</title>
        <cusip>303250AF1</cusip>
        <identifiers>
          <isin value="US303250AF16"/>
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        <balance>855000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>837024.31000000</valUSD>
        <pctVal>0.012476859364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHF Issuer Trust</name>
        <lei>N/A</lei>
        <title>FHF Issuer Trust, Series 2024-3A, Class A2</title>
        <cusip>30339EAB4</cusip>
        <identifiers>
          <isin value="US30339EAB48"/>
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        <balance>2391628.27000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2386190.19000000</valUSD>
        <pctVal>0.035569049860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.94000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Gold Pools, 15 Year</title>
        <cusip>3128MMSS3</cusip>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K088, Class X3</title>
        <cusip>3137FL6H2</cusip>
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        <name>FHLMC</name>
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        <cusip>3137FLN67</cusip>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FNAH3</cusip>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K736, Class X3</title>
        <cusip>3137FNX21</cusip>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Multi-Family Structured Pass-Through Certificates, Series K097, Class X3</title>
        <cusip>3137FNX88</cusip>
        <identifiers>
          <isin value="US3137FNX881"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <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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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FR2Z3</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 K104, Class X3</title>
        <cusip>3137FREL1</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 K105, Class X3</title>
        <cusip>3137FRUM1</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 K110, Class X3</title>
        <cusip>3137FTZT7</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 K111, Class X3</title>
        <cusip>3137FUZF4</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 K112, Class X1</title>
        <cusip>3137FUZX5</cusip>
        <identifiers>
          <isin value="US3137FUZX58"/>
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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 K114, Class X3</title>
        <cusip>3137FVNK4</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 Q012, Class X</title>
        <cusip>3137FVNQ1</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 K115, Class X3</title>
        <cusip>3137FWGA2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5021, Class MI</title>
        <cusip>3137FWMC1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5394, Class AV</title>
        <cusip>3137HBQK3</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5510, Class GV</title>
        <cusip>3137HJN45</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5516, Class DV</title>
        <cusip>3137HKBD5</cusip>
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        <curCd>USD</curCd>
        <valUSD>8993037.12000000</valUSD>
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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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 5531, Class DA</title>
        <cusip>3137HKRY2</cusip>
        <identifiers>
          <isin value="US3137HKRY24"/>
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        <balance>15487161.41000000</balance>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fells Point Funding Trust</name>
        <lei>N/A</lei>
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        <cusip>314382AA0</cusip>
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          <isin value="US314382AA01"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FIGRE Trust</name>
        <lei>N/A</lei>
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          <isin value="US31684NAA54"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>First Investors Auto Owner Trust</name>
        <lei>N/A</lei>
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          <isin value="US320986AC63"/>
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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>2029-12-17</maturityDt>
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      <invstOrSec>
        <name>FirstEnergy Transmission LLC</name>
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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>2030-01-15</maturityDt>
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        <name>FirstKey Homes Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FirstKey Homes Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FirstKey Homes Trust</name>
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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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        <name>Flash Compute LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Foundation Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
        <lei>549300MQ65NOVQXYNB21</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Foundation Finance Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Foundation Finance Trust</name>
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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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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>549300XWC4JMK6CH6K84</lei>
        <title>FHLMC MSCR Trust, Series 2021-MN1, Class M1</title>
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        <balance>92439.80000000</balance>
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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>FREMF 2020-K740 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GFL Environmental, Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage 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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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Select Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GLS Auto Select Receivables 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>254900R6PO5A0PCKSU63</lei>
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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 Select Receivables Trust</name>
        <lei>N/A</lei>
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        <cusip>36272GAG4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLS Auto Receivables Issuer Trust</name>
        <lei>N/A</lei>
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        <cusip>36273HAJ5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <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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        <name>Huntington Bank Auto Credit-Linked Notes</name>
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        <name>Hyundai Capital America</name>
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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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        <name>INEOS Finance plc</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Icahn Enterprises LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>iHeartCommunications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>iHeartCommunications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Identity Digital Capital LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Ingram Micro, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crescent Energy Finance LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ING Groep NV</name>
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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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        <name>IQVIA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Iron Mountain, Inc.</name>
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        <name>Istanbul Metropolitan Municipality</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ITC Holdings Corp.</name>
        <lei>549300HTO5U9D3SLE207</lei>
        <title>ITC Holdings Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JELD-WEN, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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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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        <name>KKR Static CLO Ltd.</name>
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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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        <name>Kinetik Holdings LP</name>
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        <name>Kingston Airport Revenue Finance Ltd.</name>
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        <name>Kioxia Holdings Corp.</name>
        <lei>35380080RTKRARNH4R73</lei>
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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>MRCD MARK Mortgage Trust</name>
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        <lei>N/A</lei>
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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="US55348UAS78"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MVW LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Macquarie Group Ltd.</name>
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        <title>Macquarie Group Ltd.</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Madison IAQ LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison IAQ LLC</name>
        <lei>549300IXDNBXNHUPBU73</lei>
        <title>Madison IAQ LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding XLIX Ltd.</name>
        <lei>N/A</lei>
        <title>Madison Park Funding Ltd., Series 2021-49A, Class B1R</title>
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          <isin value="US55820VAN38"/>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Discovery Global Holdings, Inc.</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Discovery Global Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance Issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance Issuance Trust, Series 2025-AA, Class A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance issuance Trust</name>
        <lei>N/A</lei>
        <title>Mariner Finance issuance Trust, Series 2024-BA, Class B</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance Issuance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance Issuance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mariner Finance Issuance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marvell Technology, Inc.</name>
        <lei>254900WVU0BM7ZCJ9E93</lei>
        <title>Marvell Technology, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Masterbrand, Inc.</name>
        <lei>549300E0Y4BR5Z9RDZ64</lei>
        <title>Masterbrand, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Matador Resources Co.</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NCR Voyix 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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nationwide Building Society</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Nationwide Building Society</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>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>Novelis Corp.</name>
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        <name>Chord Energy Corp.</name>
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        <name>ON Semiconductor Corp.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Onity Loan Investment Trust</name>
        <lei>N/A</lei>
        <title>Onity Loan Investment Trust, Series 2025-HB1, Class A</title>
        <cusip>68278EAA9</cusip>
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          <isin value="US68278EAA91"/>
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        <curCd>USD</curCd>
        <valUSD>6070442.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2038-06-25</maturityDt>
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      <invstOrSec>
        <name>1261229 BC Ltd.</name>
        <lei>N/A</lei>
        <title>1261229 BC Ltd.</title>
        <cusip>68288AAA5</cusip>
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          <isin value="US68288AAA51"/>
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        <curCd>USD</curCd>
        <valUSD>800625.03000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>OneMain Direct Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <cusip>682940AD3</cusip>
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          <isin value="US682940AD37"/>
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        <balance>5840000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2021-B, Class A</title>
        <cusip>68377GAA4</cusip>
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          <isin value="US68377GAA40"/>
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        <curCd>USD</curCd>
        <valUSD>545764.37000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-08</maturityDt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2021-B, Class B</title>
        <cusip>68377GAB2</cusip>
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          <isin value="US68377GAB23"/>
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        <balance>287647.34000000</balance>
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        <curCd>USD</curCd>
        <valUSD>283608.94000000</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>2031-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.96000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2021-C, Class A</title>
        <cusip>68377WAA9</cusip>
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          <isin value="US68377WAA99"/>
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        <balance>937878.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>925722.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.18000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-C, Class B</title>
        <cusip>68378RAB7</cusip>
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          <isin value="US68378RAB78"/>
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        <balance>8250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8220469.13000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.93000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2025-C, Class C</title>
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          <isin value="US68378RAC51"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4961928.50000000</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>
          <annualizedRt>5.18000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>68379HAC6</cusip>
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          <isin value="US68379HAC60"/>
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        <balance>4347000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4348078.49000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Fibercop SpA</name>
        <lei>8156007022402E114A31</lei>
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        <cusip>683879AB6</cusip>
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          <isin value="US683879AB65"/>
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        <balance>607000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>607054.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
        <title>Oportun Issuance Trust, Series 2026-A, Class A</title>
        <cusip>68390VAA4</cusip>
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          <isin value="US68390VAA44"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oportun Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>68390VAC0</cusip>
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          <isin value="US68390VAC00"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Organon &amp; Co.</name>
        <lei>N/A</lei>
        <title>Organon &amp; Co.</title>
        <cusip>68622TAB7</cusip>
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          <isin value="US68622TAB70"/>
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        <fairValLevel>2</fairValLevel>
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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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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Accendra Health, Inc.</name>
        <lei>549300LMT5KQQXCEZ733</lei>
        <title>Accendra Health, Inc.</title>
        <cusip>690732AF9</cusip>
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          <isin value="US690732AF97"/>
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        <balance>986000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>777134.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PFP Ltd.</name>
        <lei>N/A</lei>
        <title>PFP Ltd., Series 2026-14, Class A</title>
        <cusip>69292DAA1</cusip>
        <identifiers>
          <isin value="US69292DAA19"/>
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        <balance>6400000.00000000</balance>
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        <name>Islamic Republic of Pakistan</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Palmer Square Loan Funding Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Penske Automotive Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Performance Food Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Perrigo Finance Unlimited Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Petroleos Mexicanos</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PetSmart LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
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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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        <fairValLevel>2</fairValLevel>
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        <name>ADT Security Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PRM7 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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        <fairValLevel>2</fairValLevel>
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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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        <name>Progress Residential Trust</name>
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        <name>Progress Residential Trust</name>
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      <invstOrSec>
        <name>Progress Residential Trust</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>Puget Energy, Inc.</name>
        <lei>SYBSJ96YIDMIUY7WDR33</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Purchasing Power Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Purewest ABS Issuer LLC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Purewest ABS Issuer LLC</name>
        <lei>254900N011GHBESCKS35</lei>
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          <isin value="US74628AAC80"/>
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        <fairValLevel>3</fairValLevel>
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        <name>Qnity Electronics, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <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>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>RCKT Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>749349AA4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>RCKT Mortgage Trust</name>
        <lei>N/A</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>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP</title>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ROCK Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank UA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Finance Issuance Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Research-Driven Pagaya Motor Asset Trust</name>
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        <name>Resideo Funding, Inc.</name>
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        <name>MH Sub I LLC</name>
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        <name>RingCentral, Inc.</name>
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        <name>RB Global Holdings, Inc.</name>
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        <name>EMRLD Borrower LP</name>
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        <name>Roc Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Caribbean Cruises Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SCF Equipment Leasing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SG Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Stonepeak ABS</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SBNA Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <name>SCF Equipment Leasing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SM Energy Co.</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Bank Auto Credit-Linked Notes</name>
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        <name>Santander Bank Auto Credit-Linked Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Scotts Miracle-Gro Co. (The)</name>
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        <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>WEC US Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>UKG, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sensata Technologies BV</name>
        <lei>PUCKW5P5O3XMOZVH7T53</lei>
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        <name>Sensata Technologies, Inc.</name>
        <lei>5493002MMDDCUNV7NY90</lei>
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        <name>Sensata Technologies, Inc.</name>
        <lei>5493002MMDDCUNV7NY90</lei>
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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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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>54930001NJU8E40NQ561</lei>
        <title>Sunoco LP</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sunoco LP</name>
        <lei>N/A</lei>
        <title>Sunoco LP</title>
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          <isin value="US86765LAT44"/>
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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>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Superior Plus LP</name>
        <lei>N/A</lei>
        <title>Superior Plus LP</title>
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          <isin value="US86828LAC63"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>532835.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Suriname Government International Bond</name>
        <lei>254900SYU4G5JM13TN77</lei>
        <title>Suriname Government International Bond</title>
        <cusip>86886PAE2</cusip>
        <identifiers>
          <isin value="US86886PAE25"/>
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        <balance>1395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1440142.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Suriname Government International Bond</name>
        <lei>254900SYU4G5JM13TN77</lei>
        <title>Suriname Government International Bond</title>
        <cusip>86886PAF9</cusip>
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          <isin value="US86886PAF99"/>
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        <balance>1922000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2059000.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Svenska Handelsbanken AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
        <title>Svenska Handelsbanken AB</title>
        <cusip>86959LAP8</cusip>
        <identifiers>
          <isin value="US86959LAP85"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10214656.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
        <cusip>87019DAA5</cusip>
        <identifiers>
          <isin value="US87019DAA54"/>
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        <balance>6900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7004795.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.08300000</annualizedRt>
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      <invstOrSec>
        <name>Symphony CLO XVI Ltd.</name>
        <lei>5493004PWOYFPAFQVT02</lei>
        <title>Symphony CLO Ltd., Series 2015-16A, Class B1RR</title>
        <cusip>87165VAZ2</cusip>
        <identifiers>
          <isin value="US87165VAZ22"/>
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        <balance>5822000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5822727.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
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      <invstOrSec>
        <name>Symphony CLO XX Ltd.</name>
        <lei>N/A</lei>
        <title>Symphony CLO Ltd., Series 2018-20A, Class BR2</title>
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        <identifiers>
          <isin value="US87166VAY48"/>
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        <balance>9350000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TCI-Flatiron CLO Ltd.</name>
        <lei>N/A</lei>
        <title>TCI-Flatiron CLO Ltd., Series 2018-1A, Class BR2</title>
        <cusip>87232CAC4</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.06889000</annualizedRt>
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      <invstOrSec>
        <name>TVC Mortgage Trust</name>
        <lei>N/A</lei>
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        <cusip>87306XAA3</cusip>
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        <balance>4296000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.96400040</annualizedRt>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
        <cusip>87470LAD3</cusip>
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        <balance>670000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Tallgrass Energy Partners LP</name>
        <lei>N/A</lei>
        <title>Tallgrass Energy Partners LP</title>
        <cusip>87470LAJ0</cusip>
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        <balance>1760000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Somnigroup International, Inc.</name>
        <lei>549300HFEKVR3US71V91</lei>
        <title>Somnigroup International, Inc.</title>
        <cusip>88023UAH4</cusip>
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          <isin value="US88023UAH41"/>
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        <balance>1592000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1530228.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
        <cusip>88033GDH0</cusip>
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        <balance>635000.00000000</balance>
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        <valUSD>630808.87000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
        <cusip>88033GDM9</cusip>
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        <balance>2728000.00000000</balance>
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        <valUSD>2659492.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tenet Healthcare Corp.</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp.</title>
        <cusip>88033GDQ0</cusip>
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        <balance>1525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1539373.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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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>MH Sub I LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toorak Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trans-Allegheny Interstate Line Co.</name>
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        <title>Trans-Allegheny Interstate Line Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Transocean International Ltd.</name>
        <lei>DOL4HJ22ADYSIWES4H94</lei>
        <title>Transocean International Ltd.</title>
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        <invCountry>BM</invCountry>
        
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        <fairValLevel>2</fairValLevel>
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        <name>Tricon Residential Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TriMas Corp.</name>
        <lei>75G1WUQ8QK4P5MZOYD78</lei>
        <title>TriMas Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Trinidad Generation UnLtd</name>
        <lei>N/A</lei>
        <title>Trinidad Generation UnLtd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Trinity Industries, Inc.</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>Trinity Industries, Inc.</title>
        <cusip>896522AJ8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Coherent Corp.</name>
        <lei>549300O5C25A0MMHHU33</lei>
        <title>Coherent Corp.</title>
        <cusip>902104AC2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>UBS Group AG</name>
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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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      <invstOrSec>
        <name>AAdvantage Loyalty IP Ltd.</name>
        <lei>N/A</lei>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>United Airlines, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <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>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>VOLT XCV LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>VOLT CVI LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>VoltaGrid LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WFRBS Commercial Mortgage Trust, Series 2014-C22, Class C</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>VStrong Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>VStrong Auto Receivables Trust, Series 2023-A, Class B</title>
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          <isin value="US92920CAG24"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya Global Funding</name>
        <lei>N/A</lei>
        <title>Voya Global Funding</title>
        <cusip>92921LAA4</cusip>
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          <isin value="US92921LAA44"/>
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        <balance>5880000.00000000</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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      <invstOrSec>
        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
        <title>WR Grace Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>WR Grace Holdings LLC</name>
        <lei>549300WNOVFRGYOAEB12</lei>
        <title>WR Grace Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WHARF Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WHARF Commercial Mortgage Trust, Series 2025-DC, Class A</title>
        <cusip>92987LAA5</cusip>
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          <isin value="US92987LAA52"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WHARF Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WHARF Commercial Mortgage Trust, Series 2025-DC, Class B</title>
        <cusip>92987LAE7</cusip>
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          <isin value="US92987LAE74"/>
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        <balance>570000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WHARF Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WHARF Commercial Mortgage Trust, Series 2025-DC, Class C</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wand NewCo 3, Inc.</name>
        <lei>549300Y3VZEWMSQW8494</lei>
        <title>Wand NewCo 3, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wayfair LLC</name>
        <lei>549300CTUWTZGOXMYI40</lei>
        <title>Wayfair LLC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-31</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Ista Jet Seri</name>
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        <fairValLevel>3</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <name>Ardagh Holdings SA</name>
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        <fairValLevel>3</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Sonangol Finance Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Republic of Ecuador</name>
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        <fairValLevel>2</fairValLevel>
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    </invstOrSecs>
    <explntrNotes>
      
      
      
      
      
      
      
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>JPMorgan Trust I</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
