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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38378X2M2</cusip>
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          <isin value="US38378X2M27"/>
          <ticker value="38378X2M"/>
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        <curCd>USD</curCd>
        <valUSD>14839.97</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>0.487850</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38379KAT5</cusip>
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          <isin value="US38379KAT51"/>
          <ticker value="38379KAT"/>
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        <balance>1222275.0240</balance>
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        <curCd>USD</curCd>
        <valUSD>14743.20</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-01-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.291730</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38380PAD6</cusip>
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          <isin value="US38380PAD69"/>
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        <balance>1603787.50</balance>
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        <curCd>USD</curCd>
        <valUSD>131080.92</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-11-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.239150</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38380PBP8</cusip>
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          <isin value="US38380PBP80"/>
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        <curCd>USD</curCd>
        <valUSD>206390.30</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>0.939410</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38380PHG2</cusip>
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          <isin value="US38380PHG28"/>
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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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          <annualizedRt>1.055980</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38380PLB8</cusip>
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          <isin value="US38380PLB84"/>
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        <curCd>USD</curCd>
        <valUSD>259110.77</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-02-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.877020</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Government National Mortgage A</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association</title>
        <cusip>38384P7L8</cusip>
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          <isin value="US38384P7L84"/>
          <ticker value="38384P7L"/>
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        <curCd>USD</curCd>
        <valUSD>2211602.22</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GREAT AMERICA LEASING RECEIVAB</name>
        <lei>N/A</lei>
        <title>GreatAmerica Leasing Receivables Funding LLC Series 2026-1</title>
        <cusip>39154GAR7</cusip>
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          <isin value="US39154GAR74"/>
          <ticker value="39154GAR"/>
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        <balance>1183000</balance>
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        <curCd>USD</curCd>
        <valUSD>1192931.88</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.96</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GREAT AMERICA LEASING RECEIVAB</name>
        <lei>N/A</lei>
        <title>GreatAmerica Leasing Receivables Funding LLC Series 2023-1</title>
        <cusip>39154TCD8</cusip>
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          <isin value="US39154TCD81"/>
          <ticker value="39154TCD"/>
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        <curCd>USD</curCd>
        <valUSD>1684323.89</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.06</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GREAT AMERICA LEASING RECEIVAB</name>
        <lei>549300JFP7GIDD4UWO79</lei>
        <title>GreatAmerica Leasing Receivables Funding LLC</title>
        <cusip>39154TCR7</cusip>
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          <isin value="US39154TCR77"/>
          <ticker value="39154TCR"/>
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        <balance>1385000</balance>
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        <curCd>USD</curCd>
        <valUSD>1371463.29</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
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      <invstOrSec>
        <name>HPS CORPORATE LENDING FU</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS Corporate Lending Fund</title>
        <cusip>40440VAF2</cusip>
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          <isin value="US40440VAF22"/>
          <ticker value="40440VAF"/>
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        <balance>2981000</balance>
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        <curCd>USD</curCd>
        <valUSD>3031913.99</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75</annualizedRt>
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      <invstOrSec>
        <name>Hertz Vehicle Financing LLC</name>
        <lei>5493004IHDYOZ9K9WF47</lei>
        <title>Hertz Vehicle Financing LLC</title>
        <cusip>42806MAN9</cusip>
        <identifiers>
          <isin value="US42806MAN92"/>
          <ticker value="42806MAN"/>
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        <balance>3489000</balance>
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        <curCd>USD</curCd>
        <valUSD>3422887.29</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-26</maturityDt>
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          <annualizedRt>2.33</annualizedRt>
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      <invstOrSec>
        <name>Hotwire Funding LLC</name>
        <lei>254900ZCO90MCT7Y9348</lei>
        <title>Hotwire Funding LLC</title>
        <cusip>44148HAA1</cusip>
        <identifiers>
          <isin value="US44148HAA14"/>
          <ticker value="44148HAA"/>
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        <balance>1385000</balance>
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        <curCd>USD</curCd>
        <valUSD>1392179.84</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.6870</annualizedRt>
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      <invstOrSec>
        <name>Hotwire Funding LLC</name>
        <lei>254900ZCO90MCT7Y9348</lei>
        <title>Hotwire Funding LLC</title>
        <cusip>44148JAC3</cusip>
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          <isin value="US44148JAC36"/>
          <ticker value="44148JAC"/>
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        <balance>1250000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-20</maturityDt>
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          <annualizedRt>4.4590</annualizedRt>
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      <invstOrSec>
        <name>Hudson Yards</name>
        <lei>N/A</lei>
        <title>Hudson Yards 2025-SPRL Mortgage Trust</title>
        <cusip>44855PAA6</cusip>
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          <isin value="US44855PAA66"/>
          <ticker value="44855PAA"/>
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        <balance>1100000</balance>
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        <curCd>USD</curCd>
        <valUSD>1118631.14</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.649070</annualizedRt>
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      <invstOrSec>
        <name>WHARF Commercial Mortgage Trus</name>
        <lei>N/A</lei>
        <title>WHARF Commercial Mortgage Trust 2025-DC</title>
        <cusip>92987LAA5</cusip>
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          <isin value="US92987LAA52"/>
          <ticker value="92987LAA"/>
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        <balance>1900000</balance>
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        <curCd>USD</curCd>
        <valUSD>1917873.68</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.5278</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEALAND FINANCE Co. B.V. SUPER SNR EXIT LC   /</name>
        <lei>N/A</lei>
        <title>LEALAND FINANCE Co. B.V. SUPER SNR EXIT LC   /</title>
        <cusip>935IFTII4</cusip>
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          <isin value="N/A"/>
          <ticker value="935IFTII"/>
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        <balance>341263.2970</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>324200.13</valUSD>
        <pctVal>0.0149784602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <title>Fannie Mae Pool</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
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        <title>JP Morgan Mortgage Trust 2022-3</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2022-1</title>
        <cusip>46654WAH4</cusip>
        <identifiers>
          <isin value="US46654WAH43"/>
          <ticker value="46654WAH"/>
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        <balance>21126621.7720</balance>
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        <curCd>USD</curCd>
        <valUSD>18734099.46</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2022-2</title>
        <cusip>46655DAE2</cusip>
        <identifiers>
          <isin value="US46655DAE22"/>
          <ticker value="46655DAE"/>
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        <balance>4117604.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3653554.83</valUSD>
        <pctVal>0.1687989004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2022-4</title>
        <cusip>46655GAE5</cusip>
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          <isin value="US46655GAE52"/>
          <ticker value="46655GAE"/>
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        <balance>1247214.3480</balance>
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        <curCd>USD</curCd>
        <valUSD>1124645.36</valUSD>
        <pctVal>0.0519600523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2022-8</title>
        <cusip>46655VAE2</cusip>
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          <isin value="US46655VAE20"/>
          <ticker value="46655VAE"/>
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        <balance>103748.6350</balance>
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        <curCd>USD</curCd>
        <valUSD>98138.76</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>4</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust Series 2024-3</title>
        <cusip>46657QAH4</cusip>
        <identifiers>
          <isin value="US46657QAH48"/>
          <ticker value="46657QAH"/>
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        <balance>3752517.9460</balance>
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        <curCd>USD</curCd>
        <valUSD>3384371.17</valUSD>
        <pctVal>0.1563622715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3</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>JP Morgan Seasoned Mortgage Tr</name>
        <lei>N/A</lei>
        <title>JP Morgan Seasoned Mortgage Trust Series 2025-1</title>
        <cusip>46659PAG6</cusip>
        <identifiers>
          <isin value="US46659PAG63"/>
          <ticker value="46659PAG"/>
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        <balance>4070555.5450</balance>
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        <curCd>USD</curCd>
        <valUSD>3770491.29</valUSD>
        <pctVal>0.1742015143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.655320</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>John Deere Owner Trust</name>
        <lei>N/A</lei>
        <title>John Deere Owner Trust 2023-C</title>
        <cusip>47787CAD5</cusip>
        <identifiers>
          <isin value="US47787CAD56"/>
          <ticker value="47787CAD"/>
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        <balance>1664000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1677818.19</valUSD>
        <pctVal>0.0775173437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.39</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>John Deere Owner Trust</name>
        <lei>N/A</lei>
        <title>John Deere Owner Trust 2023-B</title>
        <cusip>477920AD4</cusip>
        <identifiers>
          <isin value="US477920AD44"/>
          <ticker value="477920AD"/>
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        <balance>1203000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1208857.29</valUSD>
        <pctVal>0.0558507511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.11</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>John Deere Owner Trust</name>
        <lei>N/A</lei>
        <title>John Deere Owner Trust 2023</title>
        <cusip>47800CAD8</cusip>
        <identifiers>
          <isin value="US47800CAD83"/>
          <ticker value="47800CAD"/>
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        <balance>1372000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1375596.42</valUSD>
        <pctVal>0.0635543119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.01</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>KANSAS GAS SVC SEC I LLC</name>
        <lei>N/A</lei>
        <title>Kansas Gas Service Securitization I LLC</title>
        <cusip>484915AA1</cusip>
        <identifiers>
          <isin value="US484915AA16"/>
          <ticker value="484915AA"/>
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        <balance>4604544.2950</balance>
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        <curCd>USD</curCd>
        <valUSD>4701800.10</valUSD>
        <pctVal>0.2172291710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.4860</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>Kubota Credit Owner Trust</name>
        <lei>N/A</lei>
        <title>Kubota Credit Owner Trust 2023-2</title>
        <cusip>500945AD2</cusip>
        <identifiers>
          <isin value="US500945AD28"/>
          <ticker value="500945AD"/>
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        <balance>1359000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1366124.42</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.23</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>Kubota Credit Owner Trust</name>
        <lei>N/A</lei>
        <title>Kubota Credit Owner Trust 2023-1</title>
        <cusip>50117KAD2</cusip>
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          <isin value="US50117KAD28"/>
          <ticker value="50117KAD"/>
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        <balance>876000</balance>
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        <curCd>USD</curCd>
        <valUSD>878444.30</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.07</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIGHTPATH FIBER ISSUER LLC</name>
        <lei>N/A</lei>
        <title>Lightpath Fiber Issuer LLC</title>
        <cusip>53229YAA7</cusip>
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          <isin value="US53229YAA73"/>
          <ticker value="53229YAA"/>
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        <balance>4398000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4394290.73</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5970</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR CANADA 2017-1AA PTT</name>
        <lei>N/A</lei>
        <title>Air Canada 2017-1 Class AA Pass-Through Trust</title>
        <cusip>00908PAA5</cusip>
        <identifiers>
          <isin value="US00908PAA57"/>
          <ticker value="00908PAA"/>
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        <balance>1548007.9820</balance>
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        <curCd>USD</curCd>
        <valUSD>1461087.02</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ally Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Ally Auto Receivables Trust 2023-1</title>
        <cusip>02007WAD0</cusip>
        <identifiers>
          <isin value="US02007WAD02"/>
          <ticker value="02007WAD"/>
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        <balance>931000</balance>
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        <curCd>USD</curCd>
        <valUSD>937337.04</valUSD>
        <pctVal>0.0433061687</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.27</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>AMERICAN TOWER TRUST I</name>
        <lei>5493004YGM0MQZJOEJ36</lei>
        <title>American Tower Trust #1</title>
        <cusip>03027WAM4</cusip>
        <identifiers>
          <isin value="US03027WAM47"/>
          <ticker value="03027WAM"/>
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        <balance>8058000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8108910.44</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.49</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>Arbor Realty Collateralized Lo</name>
        <lei>N/A</lei>
        <title>Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd.</title>
        <cusip>03880XAA4</cusip>
        <identifiers>
          <isin value="US03880XAA46"/>
          <ticker value="03880XAA"/>
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        <balance>840272.8050</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>840272.89</valUSD>
        <pctVal>0.0388216809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.043010</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Arbor Multifamily Mortgage Sec</name>
        <lei>N/A</lei>
        <title>Arbor Multifamily Mortgage Securities Trust 2020-MF1</title>
        <cusip>03881BAE3</cusip>
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          <isin value="US03881BAE39"/>
          <ticker value="03881BAE"/>
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        <balance>6960000</balance>
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        <curCd>USD</curCd>
        <valUSD>6484426.68</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Avis Budget Rental Car Funding</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
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          <isin value="US05377RGC25"/>
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        <curCd>USD</curCd>
        <valUSD>1067830.26</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Avis Budget Rental Car Funding</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding</name>
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        <cusip>05377RHG2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
        <cusip>05377RHM9</cusip>
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          <isin value="US05377RHM97"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner</name>
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          <isin value="US891941AE65"/>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.66</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140LS6W10"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Avis Budget Rental Car Funding</name>
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        <title>Avis Budget Rental Car Funding AESOP LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays Commercial Mortgage S</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage S</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BMW Vehicle Owner Trust</name>
        <lei>N/A</lei>
        <title>BMW Vehicle Owner Trust 2023-A</title>
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          <isin value="US05592XAE04"/>
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        <valUSD>705578.86</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <title>Freddie Mac Pool</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</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>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50</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>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICS</title>
        <cusip>3137A6WW8</cusip>
        <identifiers>
          <isin value="US3137A6WW85"/>
          <ticker value="3137A6WW"/>
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        <balance>812456.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>789829.30</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICS</title>
        <cusip>3137AYHU8</cusip>
        <identifiers>
          <isin value="US3137AYHU88"/>
          <ticker value="3137AYHU"/>
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        <balance>57990.1050</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56517.84</valUSD>
        <pctVal>0.0026111964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3</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>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137BKGK0</cusip>
        <identifiers>
          <isin value="US3137BKGK03"/>
          <ticker value="3137BKGK"/>
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        <balance>2981000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2880186.16</valUSD>
        <pctVal>0.1330682799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5110</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>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137F72P9</cusip>
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          <isin value="US3137F72P90"/>
          <ticker value="3137F72P"/>
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        <balance>2108000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1867702.33</valUSD>
        <pctVal>0.0862902336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</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>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FBBX3</cusip>
        <identifiers>
          <isin value="US3137FBBX34"/>
          <ticker value="3137FBBX"/>
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        <balance>784000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>774179.07</valUSD>
        <pctVal>0.0357680620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.2440</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>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418DVZ2</cusip>
        <identifiers>
          <isin value="US31418DVZ22"/>
          <ticker value="31418DVZ"/>
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        <balance>727911.0230</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>614701.06</valUSD>
        <pctVal>0.0283999742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</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>Hyundai Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Hyundai Auto Receivables Trust 2023-B</title>
        <cusip>44933XAE7</cusip>
        <identifiers>
          <isin value="US44933XAE76"/>
          <ticker value="44933XAE"/>
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        <balance>1112000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1120409.39</valUSD>
        <pctVal>0.0517643451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.31</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>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2021-5</title>
        <cusip>46592LAH3</cusip>
        <identifiers>
          <isin value="US46592LAH33"/>
          <ticker value="46592LAH"/>
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        <balance>504066.6510</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453390.86</valUSD>
        <pctVal>0.0209472369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2021-7</title>
        <cusip>46592NAF3</cusip>
        <identifiers>
          <isin value="US46592NAF33"/>
          <ticker value="46592NAF"/>
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        <balance>5503056.7170</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4919166.99</valUSD>
        <pctVal>0.2272717990</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust 2021-8</title>
        <cusip>46592TAF0</cusip>
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          <isin value="US46592TAF03"/>
          <ticker value="46592TAF"/>
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        <balance>1839733.9340</balance>
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        <curCd>USD</curCd>
        <valUSD>1644914.02</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SBA TOWER TRUST</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAR1</cusip>
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          <isin value="US78403DAR17"/>
          <ticker value="78403DAR"/>
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        <balance>1767000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SBA TOWER TRUST</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAT7</cusip>
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          <isin value="US78403DAT72"/>
          <ticker value="78403DAT"/>
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        <balance>1380000</balance>
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        <curCd>USD</curCd>
        <valUSD>1361608.46</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.6310</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>SBA TOWER TRUST</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAZ3</cusip>
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          <isin value="US78403DAZ33"/>
          <ticker value="78403DAZ"/>
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        <balance>1049000</balance>
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        <curCd>USD</curCd>
        <valUSD>1060090.76</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.5990</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SCE RECOVERY FUNDING LLC</name>
        <lei>N/A</lei>
        <title>SCE Recovery Funding LLC</title>
        <cusip>78433LAJ5</cusip>
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          <isin value="US78433LAJ52"/>
          <ticker value="78433LAJ"/>
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        <balance>13270000</balance>
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        <curCd>USD</curCd>
        <valUSD>13037775</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.4530</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SLG Office Trust</name>
        <lei>N/A</lei>
        <title>SLG Office Trust 2021-OVA</title>
        <cusip>78449RAA3</cusip>
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          <isin value="US78449RAA32"/>
          <ticker value="78449RAA"/>
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        <balance>5585000</balance>
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        <curCd>USD</curCd>
        <valUSD>4977296.15</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5854</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2021-9</title>
        <cusip>81748CAD2</cusip>
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          <isin value="US81748CAD20"/>
          <ticker value="81748CAD"/>
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        <balance>3541419.5150</balance>
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        <curCd>USD</curCd>
        <valUSD>3139802.71</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2021-4</title>
        <cusip>81748WAD8</cusip>
        <identifiers>
          <isin value="US81748WAD83"/>
          <ticker value="81748WAD"/>
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        <balance>2274880.4070</balance>
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        <curCd>USD</curCd>
        <valUSD>2031898.38</valUSD>
        <pctVal>0.0938763008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2021-5</title>
        <cusip>81748XAD6</cusip>
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          <isin value="US81748XAD66"/>
          <ticker value="81748XAD"/>
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        <curCd>USD</curCd>
        <valUSD>824759.14</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2021-5</title>
        <cusip>81748XAE4</cusip>
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          <isin value="US81748XAE40"/>
          <ticker value="81748XAE"/>
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        <balance>1732924.5370</balance>
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        <curCd>USD</curCd>
        <valUSD>1514582.98</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2</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>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2021-6</title>
        <cusip>81748YAD4</cusip>
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          <isin value="US81748YAD40"/>
          <ticker value="81748YAD"/>
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        <curCd>USD</curCd>
        <valUSD>7366451.47</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2022-1</title>
        <cusip>81749CAD1</cusip>
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          <isin value="US81749CAD11"/>
          <ticker value="81749CAD"/>
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        <balance>676558.3420</balance>
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        <curCd>USD</curCd>
        <valUSD>598959.20</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Sequoia Mortgage Trust 2025-S1</title>
        <cusip>81749TAD4</cusip>
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          <isin value="US81749TAD46"/>
          <ticker value="81749TAD"/>
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        <balance>7855044.5130</balance>
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        <curCd>USD</curCd>
        <valUSD>6943555.36</valUSD>
        <pctVal>0.3208011278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</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>SFS Auto Receivables Securitiz</name>
        <lei>N/A</lei>
        <title>SFS Auto Receivables Securitization Trust 2026-1</title>
        <cusip>81885FAE6</cusip>
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          <isin value="US81885FAE60"/>
          <ticker value="81885FAE"/>
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        <balance>1665000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1635229.63</valUSD>
        <pctVal>0.0755496979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.07</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>Springcastle SPV</name>
        <lei>N/A</lei>
        <title>SpringCastle America Funding LLC</title>
        <cusip>85022WAP9</cusip>
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          <isin value="US85022WAP95"/>
          <ticker value="85022WAP"/>
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        <balance>451946.9130</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>422524.72</valUSD>
        <pctVal>0.0195211818</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.97</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>TEXAS ELECTRIC MKT STABL</name>
        <lei>N/A</lei>
        <title>Texas Electric Market Stabilization Funding N LLC</title>
        <cusip>88240TAA9</cusip>
        <identifiers>
          <isin value="US88240TAA97"/>
          <ticker value="88240TAA"/>
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        <balance>4713287.3480</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4632676.94</valUSD>
        <pctVal>0.2140355927</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.2650</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>TEXAS NATURAL GAS SECURITIZTN</name>
        <lei>N/A</lei>
        <title>Texas Natural Gas Securitization Finance Corp.</title>
        <cusip>88258MAA3</cusip>
        <identifiers>
          <isin value="US88258MAA36"/>
          <ticker value="88258MAA"/>
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        <balance>627884.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>636334.01</valUSD>
        <pctVal>0.0293994442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.1020</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>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust 2018-2</title>
        <cusip>89175VAA1</cusip>
        <identifiers>
          <isin value="US89175VAA17"/>
          <ticker value="89175VAA"/>
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        <balance>61290.5140</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60808.97</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.25</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>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust 2019-4</title>
        <cusip>89178BAA2</cusip>
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          <isin value="US89178BAA26"/>
          <ticker value="89178BAA"/>
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        <balance>2965825.5250</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.90</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust 2020-4</title>
        <cusip>89179JAA4</cusip>
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          <ticker value="89179JAA"/>
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        <balance>497387.0320</balance>
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        <curCd>USD</curCd>
        <valUSD>451553.36</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust 2023-1</title>
        <cusip>89181JAA0</cusip>
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          <isin value="US89181JAA07"/>
          <ticker value="89181JAA"/>
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        <balance>1360327.15</balance>
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        <curCd>USD</curCd>
        <valUSD>1293311.99</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner</name>
        <lei>N/A</lei>
        <title>Toyota Auto Receivables 2023-A Owner Trust</title>
        <cusip>891940AD0</cusip>
        <identifiers>
          <isin value="US891940AD00"/>
          <ticker value="891940AD"/>
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        <balance>1343000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1343534.92</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.42</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FVNG3</cusip>
        <identifiers>
          <isin value="US3137FVNG37"/>
          <ticker value="3137FVNG"/>
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        <balance>1407000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1250419.75</valUSD>
        <pctVal>0.0577709898</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.3660</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FWG79</cusip>
        <identifiers>
          <isin value="US3137FWG796"/>
          <ticker value="3137FWG7"/>
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        <balance>1978000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1761563.09</valUSD>
        <pctVal>0.0813864651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.3830</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>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FWHT0</cusip>
        <identifiers>
          <isin value="US3137FWHT05"/>
          <ticker value="3137FWHT"/>
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        <balance>564000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500884.62</valUSD>
        <pctVal>0.0231415093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
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        <cusip>3137FX3Q9</cusip>
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        <curCd>USD</curCd>
        <valUSD>8251937.42</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.4060</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137HA4B9</cusip>
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          <isin value="US3137HA4B92"/>
          <ticker value="3137HA4B"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.4120</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137HAGZ3</cusip>
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          <isin value="US3137HAGZ36"/>
          <ticker value="3137HAGZ"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.2840</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137HBC51</cusip>
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          <isin value="US3137HBC514"/>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140JCCP7</cusip>
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          <isin value="US3140JCCP74"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140JCE42</cusip>
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          <isin value="US3140JCE427"/>
          <ticker value="3140JCE4"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.8860</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140KSXK8</cusip>
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          <isin value="US3140KSXK81"/>
          <ticker value="3140KSXK"/>
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        <curCd>USD</curCd>
        <valUSD>1237937.52</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>1.9560</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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          <isin value="US3140L0LQ83"/>
          <ticker value="3140L0LQ"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>DRAWBRIDGE SPEC OPPOR FU</name>
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          <ticker value="26150TAF"/>
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        <balance>6876000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>DUKE ENERGY NC ST FDG II</name>
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          <isin value="US26443UAA16"/>
          <ticker value="26443UAA"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>ECHOSTAR CORP</name>
        <lei>549300EE20907QZ9GT38</lei>
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          <ticker value="278768AB"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>EchoStar Corp</title>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing 2023-3 LLC</title>
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          <ticker value="29374LAC"/>
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        <valUSD>3822705.89</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Fleet Financing LLC</name>
        <lei>N/A</lei>
        <title>Enterprise Fleet Financing 2024-4 LLC</title>
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          <ticker value="29374MAD"/>
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        <curCd>USD</curCd>
        <valUSD>1695632.28</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70</annualizedRt>
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        <securityLending>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <name>Freddie Mac</name>
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        <name>Freddie Mac</name>
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        <name>FHLMC Multifamily Structured P</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FEZU7</cusip>
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          <isin value="US3137FEZU77"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FG6X8</cusip>
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          <isin value="US3137FG6X87"/>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FGZT5</cusip>
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          <isin value="US3137FGZT52"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FHPJ6</cusip>
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          <isin value="US3137FHPJ63"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FJEH8</cusip>
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          <isin value="US3137FJEH82"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FJKE8</cusip>
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          <isin value="US3137FJKE87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FJXV6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FJZ93</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FK4M5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FL6P4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GM Financial Consumer Automobi</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GM Financial Revolving Receiva</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GM Financial Revolving Receiva</name>
        <lei>N/A</lei>
        <title>GM Financial Revolving Receivables Trust 2024-1</title>
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          <isin value="US36269KAA34"/>
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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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        <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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        <name>JP Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JP Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JP Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Equipment Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MF1</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Equipment Notes</name>
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      <invstOrSec>
        <name>Manhattan West</name>
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          <maturityDt>2039-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.13</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ AUTO RECEIVABLES</name>
        <lei>N/A</lei>
        <title>Mercedes-Benz Auto Receivables Trust 2023-1</title>
        <cusip>58770AAD5</cusip>
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          <isin value="US58770AAD54"/>
          <ticker value="58770AAD"/>
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        <balance>816000</balance>
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        <curCd>USD</curCd>
        <valUSD>816028.23</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.31</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ AUTO RECEIVABLES</name>
        <lei>N/A</lei>
        <title>Mercedes-Benz Auto Receivables Trust 2024-1</title>
        <cusip>587918AE3</cusip>
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          <isin value="US587918AE35"/>
          <ticker value="587918AE"/>
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        <balance>1038000</balance>
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        <curCd>USD</curCd>
        <valUSD>1042602.18</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.79</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MetroNet Infrastructure Issuer</name>
        <lei>5493000BIROCAEATAQ61</lei>
        <title>MetroNet Infrastructure Issuer LLC</title>
        <cusip>59170JBL1</cusip>
        <identifiers>
          <isin value="US59170JBL17"/>
          <ticker value="59170JBL"/>
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        <balance>838000</balance>
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        <curCd>USD</curCd>
        <valUSD>840682.69</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.10</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIDCAP FINANCIAL ISSR TR</name>
        <lei>N/A</lei>
        <title>Midcap Financial Issuer Trust</title>
        <cusip>59567LAA2</cusip>
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          <isin value="US59567LAA26"/>
          <ticker value="59567LAA"/>
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        <balance>10563000</balance>
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        <curCd>USD</curCd>
        <valUSD>10548653.33</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MMAF Equipment Finance LLC</name>
        <lei>N/A</lei>
        <title>MMAF Equipment Finance LLC 2020-A</title>
        <cusip>60700MAE8</cusip>
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          <isin value="US60700MAE84"/>
          <ticker value="60700MAE"/>
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        <balance>736000</balance>
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        <curCd>USD</curCd>
        <valUSD>718429.99</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.56</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nissan Auto Receivables Owner</name>
        <lei>N/A</lei>
        <title>Nissan Auto Receivables 2023-A Owner Trust</title>
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          <isin value="US65480WAE12"/>
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        <balance>1485000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Onslow Bay Financial LLC</name>
        <lei>N/A</lei>
        <title>OBX 2021-J1 Trust</title>
        <cusip>67113XAD2</cusip>
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          <isin value="US67113XAD21"/>
          <ticker value="67113XAD"/>
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        <balance>13172352.3280</balance>
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        <curCd>USD</curCd>
        <valUSD>11782503.19</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Onslow Bay Financial LLC</name>
        <lei>N/A</lei>
        <title>OBX 2022-J1 Trust</title>
        <cusip>67116WAC3</cusip>
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          <isin value="US67116WAC38"/>
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        <balance>6003680.9240</balance>
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        <curCd>USD</curCd>
        <valUSD>5404695.48</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OAKTREE STRATEGIC CREDIT</name>
        <lei>2549006RRE0JC7G43241</lei>
        <title>Oaktree Strategic Credit Fund</title>
        <cusip>67403AAB5</cusip>
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          <isin value="US67403AAB52"/>
          <ticker value="67403AAB"/>
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        <balance>4032000</balance>
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        <curCd>USD</curCd>
        <valUSD>4225371.90</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.40</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Onslow Bay Financial LLC</name>
        <lei>N/A</lei>
        <title>OBX 2021-J3 Trust</title>
        <cusip>67448XAD8</cusip>
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          <isin value="US67448XAD84"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.50</annualizedRt>
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        <name>OKLAHOMA ST DEV FIN AUTH</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>Oklahoma Development Finance Authority</title>
        <cusip>6789083Z5</cusip>
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          <isin value="US6789083Z58"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>OKLAHOMA ST DEV FIN AUTH</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>Oklahoma Development Finance Authority</title>
        <cusip>6789084C5</cusip>
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          <isin value="US6789084C54"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>3.8770</annualizedRt>
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      <invstOrSec>
        <name>OKLAHOMA ST DEV FIN AUTH</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>Oklahoma Development Finance Authority</title>
        <cusip>6789084F8</cusip>
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          <isin value="US6789084F85"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>BLUE OWL CREDIT INCOME</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>Blue Owl Credit Income Corp.</title>
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          <isin value="US69120VBB62"/>
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        <balance>5727000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>PG&amp;E WILDFIRE RECOVERY</name>
        <lei>N/A</lei>
        <title>PG&amp;E Wildfire Recovery Funding LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Pretium Mortgage Credit Partne</name>
        <lei>N/A</lei>
        <title>PRET 2024-RPL1 Trust</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-10-25</maturityDt>
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          <annualizedRt>3.90</annualizedRt>
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      <invstOrSec>
        <name>PG&amp;E RECOVERY FND LLC</name>
        <lei>N/A</lei>
        <title>PG&amp;E Recovery Funding LLC</title>
        <cusip>71710TAD0</cusip>
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        <balance>3124999.33</balance>
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        <curCd>USD</curCd>
        <valUSD>3183593.07</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Porsche Financial Auto Securit</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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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Progress Residential Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Woodward Capital Management</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toyota Auto Loan Extended Note</name>
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        <name>Toyota Auto Receivables Owner</name>
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        <name>Toyota Auto Loan Extended Note</name>
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        <name>Toyota Auto Loan Extended Note</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797TF4</cusip>
        <identifiers>
          <isin value="US912797TF47"/>
          <ticker value="912797TF"/>
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        <balance>15486000</balance>
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        <curCd>USD</curCd>
        <valUSD>15484457.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797TN7</cusip>
        <identifiers>
          <isin value="US912797TN70"/>
          <ticker value="912797TN"/>
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        <curCd>USD</curCd>
        <valUSD>68317069.70</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note</title>
        <cusip>91282CPN5</cusip>
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          <isin value="US91282CPN55"/>
          <ticker value="91282CPN"/>
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        <balance>31841000</balance>
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        <curCd>USD</curCd>
        <valUSD>30942985.09</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note</title>
        <cusip>91282CPR6</cusip>
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          <isin value="US91282CPR69"/>
          <ticker value="91282CPR"/>
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        <balance>123798000</balance>
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        <curCd>USD</curCd>
        <valUSD>120874943.52</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.6250</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note</title>
        <cusip>91282CPW5</cusip>
        <identifiers>
          <isin value="US91282CPW54"/>
          <ticker value="91282CPW"/>
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        <balance>178681000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175302821.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note</title>
        <cusip>91282CQD6</cusip>
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          <isin value="US91282CQD64"/>
          <ticker value="91282CQD"/>
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        <curCd>USD</curCd>
        <valUSD>182446440</valUSD>
        <pctVal>8.4292585968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note</title>
        <cusip>91282CQG9</cusip>
        <identifiers>
          <isin value="US91282CQG95"/>
          <ticker value="91282CQG"/>
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        <balance>3470000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3420932.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note</title>
        <cusip>91282CQK0</cusip>
        <identifiers>
          <isin value="US91282CQK08"/>
          <ticker value="91282CQK"/>
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        <balance>188831000</balance>
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        <curCd>USD</curCd>
        <valUSD>186116554.38</valUSD>
        <pctVal>8.5988225696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.8750</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TSY INFL IX N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Inflation Indexed Bonds</title>
        <cusip>91282CQP9</cusip>
        <identifiers>
          <isin value="US91282CQP94"/>
          <ticker value="91282CQP"/>
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        <balance>33873072.75</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32815843.34</valUSD>
        <pctVal>1.5161338834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VT TOPCO INC</name>
        <lei>5493007T812R37X02Y38</lei>
        <title>VT Topco, Inc.</title>
        <cusip>91838PAA9</cusip>
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          <isin value="US91838PAA93"/>
          <ticker value="91838PAA"/>
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        <balance>5947000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6036205</valUSD>
        <pctVal>0.2788803820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VCP RRL ABS I, Ltd</name>
        <lei>N/A</lei>
        <title>VCP RRL ABS I Ltd.</title>
        <cusip>92243RAA2</cusip>
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          <isin value="US92243RAA23"/>
          <ticker value="92243RAA"/>
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        <balance>506500.03</balance>
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        <curCd>USD</curCd>
        <valUSD>482302.50</valUSD>
        <pctVal>0.0222829916</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-20</maturityDt>
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          <annualizedRt>2.1520</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VCP RRL ABS I, Ltd</name>
        <lei>N/A</lei>
        <title>VCP RRL ABS I Ltd.</title>
        <cusip>92243RAC8</cusip>
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          <isin value="US92243RAC88"/>
          <ticker value="92243RAC"/>
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        <valUSD>743648.59</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.8480</annualizedRt>
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      <invstOrSec>
        <name>Verizon Master Trust</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>Verizon Master Trust</title>
        <cusip>92348KCH4</cusip>
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          <isin value="US92348KCH41"/>
          <ticker value="92348KCH"/>
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        <curCd>USD</curCd>
        <valUSD>10366423.80</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83</annualizedRt>
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      <invstOrSec>
        <name>Verizon Master Trust</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>Verizon Master Trust</title>
        <cusip>92348KDJ9</cusip>
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          <isin value="US92348KDJ97"/>
          <ticker value="92348KDJ"/>
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        <curCd>USD</curCd>
        <valUSD>4549396.31</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-20</maturityDt>
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          <annualizedRt>4.35</annualizedRt>
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      <invstOrSec>
        <name>Verizon Master Trust</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>Verizon Master Trust</title>
        <cusip>92348VAA7</cusip>
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          <isin value="US92348VAA70"/>
          <ticker value="92348VAA"/>
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        <balance>8097000</balance>
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        <valUSD>8247630.92</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>VIRGINIA POWER FUEL SEC</name>
        <lei>254900BELJ95ONW6U791</lei>
        <title>Virginia Power Fuel Securitization LLC</title>
        <cusip>92808VAB8</cusip>
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          <isin value="US92808VAB80"/>
          <ticker value="92808VAB"/>
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        <balance>8504000</balance>
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        <curCd>USD</curCd>
        <valUSD>8525260</valUSD>
        <pctVal>0.3938779027</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.8770</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Volkswagen Auto Loan Enhanced</name>
        <lei>N/A</lei>
        <title>Volkswagen Auto Loan Enhanced Trust 2023-1</title>
        <cusip>92867WAE8</cusip>
        <identifiers>
          <isin value="US92867WAE84"/>
          <ticker value="92867WAE"/>
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        <balance>1181000</balance>
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        <curCd>USD</curCd>
        <valUSD>1185679.71</valUSD>
        <pctVal>0.0547799173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Volvo Financial Equipment LLC</name>
        <lei>N/A</lei>
        <title>Volvo Financial Equipment LLC Series 2025-2</title>
        <cusip>92886CAD1</cusip>
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          <isin value="US92886CAD11"/>
          <ticker value="92886CAD"/>
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        <balance>812000</balance>
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        <curCd>USD</curCd>
        <valUSD>801341.36</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Copper Property CTL Pass Throu</name>
        <lei>N/A</lei>
        <title>Copper Property CTL Pass-Through Trust</title>
        <cusip>217519107</cusip>
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          <isin value="US2175191079"/>
          <ticker value="CPPTL"/>
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        <balance>58520</balance>
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        <curCd>USD</curCd>
        <valUSD>620312</valUSD>
        <pctVal>0.0286592068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MSILF Treasury Portfolio</name>
        <lei>549300D1XR6GP7EZ0T47</lei>
        <title>MSILF Treasury Portfolio - Class Institutional</title>
        <cusip>61747C582</cusip>
        <identifiers>
          <isin value="US61747C5821"/>
          <ticker value="MISXX"/>
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        <balance>12455904.36</balance>
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        <curCd>USD</curCd>
        <valUSD>12455904.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>OCREDIT BDC SENIOR NOTE DDTL   /</name>
        <lei>N/A</lei>
        <title>OCREDIT BDC SENIOR NOTE DDTL   /</title>
        <cusip>999999999</cusip>
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          <ticker value="OCREDIT"/>
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        <balance>1557000</balance>
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        <curCd>USD</curCd>
        <valUSD>1557000</valUSD>
        <pctVal>0.0719353890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.77</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHI Group Inc/DE</name>
        <lei>5493002853B5XXHLIP12</lei>
        <title>PHI Group, Inc.</title>
        <cusip>69360B104</cusip>
        <identifiers>
          <isin value="US69360B1044"/>
          <ticker value="PHIG"/>
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        <balance>75292</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2409344</valUSD>
        <pctVal>0.1113147707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MMAF Equipment Finance LLC</name>
        <lei>N/A</lei>
        <title>Barings Equipment Finance LLC 2025-A</title>
        <cusip>06764MAD6</cusip>
        <identifiers>
          <isin value="US06764MAD65"/>
          <ticker value="06764MAD"/>
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        <balance>4370000</balance>
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        <curCd>USD</curCd>
        <valUSD>4416232.85</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.02</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MMAF Equipment Finance LLC</name>
        <lei>N/A</lei>
        <title>Barings Equipment Finance LLC 2026-A</title>
        <cusip>06764QAC9</cusip>
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          <isin value="US06764QAC96"/>
          <ticker value="06764QAC"/>
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        <balance>889000</balance>
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        <curCd>USD</curCd>
        <valUSD>873702.18</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24</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>
        <name>MMAF Equipment Finance LLC</name>
        <lei>N/A</lei>
        <title>Barings Equipment Finance LLC 2025-B</title>
        <cusip>06764YAD0</cusip>
        <identifiers>
          <isin value="US06764YAD04"/>
          <ticker value="06764YAD"/>
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        <balance>4330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4266362.42</valUSD>
        <pctVal>0.1971113939</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.29</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barclays Commercial Mortgage S</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust 2025-5C34</title>
        <cusip>07337BAC8</cusip>
        <identifiers>
          <isin value="US07337BAC81"/>
          <ticker value="07337BAC"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1025511.30</valUSD>
        <pctVal>0.0473799321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.6590</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2024-V11 Mortgage Trust</title>
        <cusip>081921AZ1</cusip>
        <identifiers>
          <isin value="US081921AZ13"/>
          <ticker value="081921AZ"/>
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        <balance>2591000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2666755.14</valUSD>
        <pctVal>0.1232074942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.9090</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLUE OWL FINANCE LLC</name>
        <lei>254900OF2NO2GYFV5T41</lei>
        <title>Blue Owl Finance LLC</title>
        <cusip>09581JAR7</cusip>
        <identifiers>
          <isin value="US09581JAR77"/>
          <ticker value="09581JAR"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4385515</valUSD>
        <pctVal>0.2026163953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.1250</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO 2024-5C7 Mortgage Trust</title>
        <cusip>09660WAU5</cusip>
        <identifiers>
          <isin value="US09660WAU53"/>
          <ticker value="09660WAU"/>
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        <balance>2581000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2629171.27</valUSD>
        <pctVal>0.1214710713</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.5657</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO 2024-5C8 Mortgage Trust</title>
        <cusip>09661XAC2</cusip>
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          <isin value="US09661XAC20"/>
          <ticker value="09661XAC"/>
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        <balance>1258000</balance>
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        <curCd>USD</curCd>
        <valUSD>1285870.74</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.6253</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO 2025-5C13 Mortgage Trust</title>
        <cusip>09664JAC0</cusip>
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          <isin value="US09664JAC09"/>
          <ticker value="09664JAC"/>
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        <balance>2696000</balance>
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        <curCd>USD</curCd>
        <valUSD>2720643.87</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.2270</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRAZOS SECURITIZATN LLC</name>
        <lei>N/A</lei>
        <title>Brazos Securitization LLC</title>
        <cusip>106230AA3</cusip>
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          <isin value="US106230AA39"/>
          <ticker value="106230AA"/>
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        <balance>570579.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>574177.49</valUSD>
        <pctVal>0.0265277335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.0140</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>CNH Equipment Trust</name>
        <lei>N/A</lei>
        <title>CNH Equipment Trust 2022-B</title>
        <cusip>12663JAD3</cusip>
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          <isin value="US12663JAD37"/>
          <ticker value="12663JAD"/>
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        <balance>581000</balance>
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        <curCd>USD</curCd>
        <valUSD>580119.84</valUSD>
        <pctVal>0.0268022777</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.91</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNH Equipment Trust</name>
        <lei>N/A</lei>
        <title>CNH Equipment Trust 2023-A</title>
        <cusip>12664QAD6</cusip>
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          <isin value="US12664QAD60"/>
          <ticker value="12664QAD"/>
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        <balance>644000</balance>
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        <curCd>USD</curCd>
        <valUSD>645829.67</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.77</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CNH Equipment Trust</name>
        <lei>N/A</lei>
        <title>CNH Equipment Trust 2023-B</title>
        <cusip>12666DAD3</cusip>
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          <isin value="US12666DAD30"/>
          <ticker value="12666DAD"/>
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        <balance>1805000</balance>
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        <curCd>USD</curCd>
        <valUSD>1828793.87</valUSD>
        <pctVal>0.0844926130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.46</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CNH Equipment Trust</name>
        <lei>N/A</lei>
        <title>CNH Equipment Trust 2026-B</title>
        <cusip>12676QAE0</cusip>
        <identifiers>
          <isin value="US12676QAE08"/>
          <ticker value="12676QAE"/>
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        <balance>1692000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1698593.89</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.74</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Carmax Auto Owner Trust 2023-2</title>
        <cusip>142921AE5</cusip>
        <identifiers>
          <isin value="US142921AE59"/>
          <ticker value="142921AE"/>
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        <balance>2027000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2035082.05</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.01</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>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>CarMax Auto Owner Trust 2023-1</title>
        <cusip>14318DAD1</cusip>
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          <isin value="US14318DAD12"/>
          <ticker value="14318DAD"/>
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        <balance>904000</balance>
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        <curCd>USD</curCd>
        <valUSD>905306.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Carmax Auto Owner Trust 2023-3</title>
        <cusip>14319BAD4</cusip>
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          <isin value="US14319BAD47"/>
          <ticker value="14319BAD"/>
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        <balance>2146000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2161327.38</valUSD>
        <pctVal>0.0998560860</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.26</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CENTERPOINT ENERGY RE II</name>
        <lei>N/A</lei>
        <title>Centerpoint Energy Restoration Bond Co. II LLC</title>
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          <isin value="US15201GAA76"/>
          <ticker value="15201GAA"/>
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        <balance>9713424.55</balance>
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        <curCd>USD</curCd>
        <valUSD>9545751.42</valUSD>
        <pctVal>0.4410259100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.2550</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cerberus</name>
        <lei>635400YAOHPN8ZVJAS71</lei>
        <title>Cerberus Loan Funding XLI LLC</title>
        <cusip>15674VAA2</cusip>
        <identifiers>
          <isin value="US15674VAA26"/>
          <ticker value="15674VAA"/>
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        <balance>5057000</balance>
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        <curCd>USD</curCd>
        <valUSD>5071978.83</valUSD>
        <pctVal>0.2343319012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.2231</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FIVE POINT OPERATING CO</name>
        <lei>N/A</lei>
        <title>Five Point Operating Co. LP</title>
        <cusip>33834YAC2</cusip>
        <identifiers>
          <isin value="US33834YAC21"/>
          <ticker value="33834YAC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>409344</valUSD>
        <pctVal>0.0189122157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8</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>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Owner Trust 2023-A</title>
        <cusip>344928AE6</cusip>
        <identifiers>
          <isin value="US344928AE62"/>
          <ticker value="344928AE"/>
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        <balance>1343000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1344423.71</valUSD>
        <pctVal>0.0621140929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.56</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>Ford Credit Auto Owner Trust 2023-B</title>
        <cusip>344930AE2</cusip>
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          <isin value="US344930AE27"/>
          <ticker value="344930AE"/>
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        <balance>734000</balance>
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        <curCd>USD</curCd>
        <valUSD>737805.57</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.06</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master O</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
        <cusip>34528PAK2</cusip>
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          <isin value="US34528PAK21"/>
          <ticker value="34528PAK"/>
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        <balance>10771000</balance>
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        <curCd>USD</curCd>
        <valUSD>10669878.62</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06</annualizedRt>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master O</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
        <cusip>34528QJF2</cusip>
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          <isin value="US34528QJF28"/>
          <ticker value="34528QJF"/>
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        <balance>6057000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.24</annualizedRt>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master O</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
        <cusip>34528QJQ8</cusip>
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          <isin value="US34528QJQ82"/>
          <ticker value="34528QJQ"/>
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        <balance>3949000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master O</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
        <cusip>34528QKE3</cusip>
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        <curCd>USD</curCd>
        <valUSD>4501945.20</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Fortress Credit Opportunities</name>
        <lei>2549008RD44HDM6DNP14</lei>
        <title>Fortress Credit Opportunities IX CLO Ltd.</title>
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          <ticker value="34961JAY"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Fortress Credit Opportunities</name>
        <lei>2549008RD44HDM6DNP14</lei>
        <title>Fortress Credit Opportunities IX CLO Ltd.</title>
        <cusip>34961MAE7</cusip>
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          <isin value="US34961MAE75"/>
          <ticker value="34961MAE"/>
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        <curCd>USD</curCd>
        <valUSD>8760208.16</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors</name>
        <lei>N/A</lei>
        <title>GMF Floorplan Owner Revolving Trust</title>
        <cusip>361886CW2</cusip>
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          <isin value="US361886CW21"/>
          <ticker value="361886CW"/>
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        <balance>2130000</balance>
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        <curCd>USD</curCd>
        <valUSD>2161981.52</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>General Motors</name>
        <lei>N/A</lei>
        <title>GMF Floorplan Owner Revolving Trust</title>
        <cusip>361886DF8</cusip>
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          <isin value="US361886DF88"/>
          <ticker value="361886DF"/>
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        <balance>6852000</balance>
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        <curCd>USD</curCd>
        <valUSD>6941572.08</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>General Motors</name>
        <lei>N/A</lei>
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          <isin value="US361886ES90"/>
          <ticker value="361886ES"/>
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        <curCd>USD</curCd>
        <valUSD>3098043.54</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Corp. Trust 2021-PJ5</title>
        <cusip>36261HAJ9</cusip>
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          <isin value="US36261HAJ95"/>
          <ticker value="36261HAJ"/>
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        <curCd>USD</curCd>
        <valUSD>5426980.15</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.50</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2021-PJ7</title>
        <cusip>36262CAJ9</cusip>
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          <isin value="US36262CAJ99"/>
          <ticker value="36262CAJ"/>
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        <curCd>USD</curCd>
        <valUSD>3372767.66</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2021-PJ6</title>
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          <isin value="US36262LAJ98"/>
          <ticker value="36262LAJ"/>
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        <curCd>USD</curCd>
        <valUSD>5119271.33</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2021-PJ10</title>
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          <isin value="US36262PAH47"/>
          <ticker value="36262PAH"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GM Financial Revolving Receiva</name>
        <lei>N/A</lei>
        <title>GM Financial Revolving Receivables Trust 2021-1</title>
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          <isin value="US36263HAA68"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2021-INV1</title>
        <cusip>36263KAF8</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities</name>
        <lei>N/A</lei>
        <title>GS Mortgage-Backed Securities Trust 2022-PJ1</title>
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          <isin value="US36263NAH89"/>
          <ticker value="36263NAH"/>
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        <curCd>USD</curCd>
        <valUSD>7390078.56</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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      <invstOrSec>
        <name>Woodward Capital Management</name>
        <lei>N/A</lei>
        <title>RCKT Mortgage Trust 2021-3</title>
        <cusip>74938DAE3</cusip>
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          <isin value="US74938DAE31"/>
          <ticker value="74938DAE"/>
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        <valUSD>7337481.80</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.50</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ROCC Trust</name>
        <lei>N/A</lei>
        <title>ROCK Trust 2024-CNTR</title>
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          <isin value="US74970WAA80"/>
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        <curCd>USD</curCd>
        <valUSD>4354970.91</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>SFS Auto Receivables Securitiz</name>
        <lei>N/A</lei>
        <title>SFS Auto Receivables Securitization Trust 2023-1</title>
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          <ticker value="78398AAE"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>SFS Auto Receivables Securitiz</name>
        <lei>N/A</lei>
        <title>SFS Auto Receivables Securitization Trust 2026-2</title>
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          <isin value="US78398NAE58"/>
          <ticker value="78398NAE"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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          <ticker value="3140W1N9"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418D7A4</cusip>
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          <ticker value="31418D7A"/>
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        <curCd>USD</curCd>
        <valUSD>1878420.64</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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        <title>Fannie Mae Pool</title>
        <cusip>31418DU67</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418DUA8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
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        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FTZQ3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
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        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FV5N8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FLMV3</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily Structured P</name>
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        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <name>FHLMC Multifamily Structured P</name>
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        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FNB82</cusip>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FNX54</cusip>
        <identifiers>
          <isin value="US3137FNX543"/>
          <ticker value="3137FNX5"/>
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        <balance>5934750</balance>
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        <curCd>USD</curCd>
        <valUSD>5612484.77</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5080</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FPJG1</cusip>
        <identifiers>
          <isin value="US3137FPJG15"/>
          <ticker value="3137FPJG"/>
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        <balance>2622000</balance>
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        <curCd>USD</curCd>
        <valUSD>2474675.85</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5950</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FQ3A9</cusip>
        <identifiers>
          <isin value="US3137FQ3A94"/>
          <ticker value="3137FQ3A"/>
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        <balance>2550000</balance>
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        <curCd>USD</curCd>
        <valUSD>2415434.21</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.6730</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FQ3Z4</cusip>
        <identifiers>
          <isin value="US3137FQ3Z46"/>
          <ticker value="3137FQ3Z"/>
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        <balance>6883000</balance>
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        <curCd>USD</curCd>
        <valUSD>6477345.58</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5240</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FQKC6</cusip>
        <identifiers>
          <isin value="US3137FQKC64"/>
          <ticker value="3137FQKC"/>
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        <balance>4314000</balance>
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        <curCd>USD</curCd>
        <valUSD>4071362.09</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.5370</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FQKN2</cusip>
        <identifiers>
          <isin value="US3137FQKN20"/>
          <ticker value="3137FQKN"/>
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        <balance>6001000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5663109.49</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.6510</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FREH0</cusip>
        <identifiers>
          <isin value="US3137FREH09"/>
          <ticker value="3137FREH"/>
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        <balance>2381000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2223529.23</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.2530</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FRUJ8</cusip>
        <identifiers>
          <isin value="US3137FRUJ80"/>
          <ticker value="3137FRUJ"/>
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        <balance>449000</balance>
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        <curCd>USD</curCd>
        <valUSD>410500.85</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.8720</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FRUT6</cusip>
        <identifiers>
          <isin value="US3137FRUT62"/>
          <ticker value="3137FRUT"/>
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        <curCd>USD</curCd>
        <valUSD>1582544.29</valUSD>
        <pctVal>0.0731155678</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FRZA2</cusip>
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          <isin value="US3137FRZA27"/>
          <ticker value="3137FRZA"/>
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        <curCd>USD</curCd>
        <valUSD>817383.13</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FTBM8</cusip>
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          <isin value="US3137FTBM86"/>
          <ticker value="3137FTBM"/>
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        <curCd>USD</curCd>
        <valUSD>1142102.47</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured P</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FTFY8</cusip>
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          <isin value="US3137FTFY88"/>
          <ticker value="3137FTFY"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140X46S0</cusip>
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          <isin value="US3140X46S02"/>
          <ticker value="3140X46S"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XFG88</cusip>
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          <isin value="US3140XFG889"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XFK67</cusip>
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          <isin value="US3140XFK675"/>
          <ticker value="3140XFK6"/>
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        <curCd>USD</curCd>
        <valUSD>2429400.94</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140XG2M0</cusip>
        <identifiers>
          <isin value="US3140XG2M08"/>
          <ticker value="3140XG2M"/>
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        <balance>645910.78</balance>
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        <curCd>USD</curCd>
        <valUSD>555568.27</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <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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      <invstOrSec>
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        <title>Fannie Mae Pool</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</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>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418D5Q1</cusip>
        <identifiers>
          <isin value="US31418D5Q15"/>
          <ticker value="31418D5Q"/>
        </identifiers>
        <balance>3519733.9590</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3040602.78</valUSD>
        <pctVal>0.1404797327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1</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>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418D6K3</cusip>
        <identifiers>
          <isin value="US31418D6K36"/>
          <ticker value="31418D6K"/>
        </identifiers>
        <balance>14394770.5790</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12055377.09</valUSD>
        <pctVal>0.5569738219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</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>Cerberus</name>
        <lei>6354005VK9L5QCJ8WJ98</lei>
        <title>Cerberus Loan Funding XLIII LLC</title>
        <cusip>156940AA6</cusip>
        <identifiers>
          <isin value="US156940AA68"/>
          <ticker value="156940AA"/>
        </identifiers>
        <balance>5734000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5772807.71</valUSD>
        <pctVal>0.2667110908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.0981</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>CHI Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CHI Commercial Mortgage Trust 2025-SFT</title>
        <cusip>16706GAA5</cusip>
        <identifiers>
          <isin value="US16706GAA58"/>
          <ticker value="16706GAA"/>
        </identifiers>
        <balance>7209000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7280653.86</valUSD>
        <pctVal>0.3363755091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.6649</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>CLECO SECURITIZATION I</name>
        <lei>N/A</lei>
        <title>Cleco Securitization I LLC</title>
        <cusip>185512AA8</cusip>
        <identifiers>
          <isin value="US185512AA81"/>
          <ticker value="185512AA"/>
        </identifiers>
        <balance>1156697.60</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1138479.50</valUSD>
        <pctVal>0.0525992073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.0160</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>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3133KYU80</cusip>
        <identifiers>
          <isin value="US3133KYU800"/>
          <ticker value="3133KYU8"/>
        </identifiers>
        <balance>3626336.5240</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3055233.85</valUSD>
        <pctVal>0.1411557068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="The fund is reporting returns without deducting sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-13</ncom:dateSigned>
      <ncom:nameOfApplicant>Investment Managers Series Trust III</ncom:nameOfApplicant>
      <ncom:signature>/s/ Maureen Quill</ncom:signature>
      <ncom:signerName>Maureen Quill</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
