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        <name>JBS NV / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co. Holdings</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>Synchrony Financial</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Borr IHC Ltd. / Borr Finance LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TTM Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRA Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Cadence Design Systems, Inc.</name>
        <lei>GCT7RXJOGLXPV0NXZY22</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>MSCI Emerging Markets Index</title>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
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        <name>Mitsui &amp; Co. Ltd.</name>
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        <name>Carter's, Inc.</name>
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        <name>Federation des Caisses Desjardins du Quebec</name>
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        <name>Gulfport Energy Corp.</name>
        <lei>254900DJRGZBUZ3F5038</lei>
        <title>Gulfport Energy Corp.</title>
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        <name>Dycom Industries, Inc.</name>
        <lei>549300F56EKTHQI3WT60</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
              <name>DoorDash, Inc.</name>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OIS</title>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>LCH Clearnet</counterpartyName>
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      <invstOrSec>
        <name>Alphabet, Inc.</name>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Brinker International, Inc.</name>
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        <title>Brinker International, Inc.</title>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Apollo Global Management, Inc.</name>
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        <title>Apollo Global Management, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CVS Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US12665UAA25"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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          <isin value="US01F0426811"/>
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        <curCd>USD</curCd>
        <valUSD>1301828.11000000</valUSD>
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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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>FHLMC</name>
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          <isin value="US3137HBQ985"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="141171"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Idemitsu Kosan Co. Ltd.</name>
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        <title>Idemitsu Kosan Co. Ltd.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>Expeditors International of Washington, Inc.</name>
        <lei>984500B055A804AB6E40</lei>
        <title>Expeditors International of Washington, Inc.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
        <cusip>931142103</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1352"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Zions Bancorp NA</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>Zions Bancorp NA</title>
        <cusip>989701107</cusip>
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          <isin value="US9897011071"/>
          <other otherDesc="Inhouse Asset ID" value="60311"/>
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        <balance>3458.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239259.02000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CME Group, Inc.</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME Group, Inc.</title>
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          <isin value="US12572Q1058"/>
          <other otherDesc="Inhouse Asset ID" value="265611"/>
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        <curCd>USD</curCd>
        <valUSD>993072.51000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Interactive Brokers Group, Inc.</name>
        <lei>5493004DT6DCDUZNDM53</lei>
        <title>Interactive Brokers Group, Inc., Class A</title>
        <cusip>45841N107</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967LD1</cusip>
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          <other otherDesc="Inhouse Asset ID" value="657325"/>
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        <curCd>USD</curCd>
        <valUSD>319939.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Corp. Nacional del Cobre de Chile</name>
        <lei>549300UVMBCBCIPSUI70</lei>
        <title>Corp. Nacional del Cobre de Chile</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1060244"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188543.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="16386"/>
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        <balance>6800.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>GNMA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Norwegian Krone</name>
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        <name>Valero Energy Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CRH plc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Clean Harbors, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Energy Generation LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>McGraw-Hill Education, Inc.</name>
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        <name>PayPal Holdings, Inc.</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Peru</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Electric Power Co.</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crescent Energy Finance LLC</name>
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        <name>GNMA</name>
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        <name>AbbVie, Inc.</name>
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        <name>Freedom Mortgage Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ServiceNow, Inc.</name>
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        <name>N/A</name>
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        <name>Sage Therapeutics, Inc.</name>
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        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>Oncor Electric Delivery Co. LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Bloom Energy Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>New Jersey Resources Corp.</name>
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        <name>Hut 8 Corp.</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Haemonetics Corp.</name>
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        <name>Wrangler Holdco Corp.</name>
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        <name>Johnson Controls International plc</name>
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        <name>Lattice Semiconductor Corp.</name>
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        <name>Semtech Corp.</name>
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        <name>Big River Steel LLC / BRS Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sony Group Corp.</name>
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        <title>Sony Group Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Elmwood CLO I Ltd.</name>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>GNMA</name>
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          <isin value="US38376RWN24"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2066-07-20</maturityDt>
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        <name>Morgan Stanley ABS Capital I, Inc. Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-25</maturityDt>
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        <name>Putnam Government Money Market Fund</name>
        <lei>549300SEUI2XMME8T893</lei>
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          <other otherDesc="Inhouse Asset ID" value="1319397"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TechnipFMC plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Hilltop Holdings, Inc.</name>
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        <title>Hilltop Holdings, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Waters Corp.</name>
        <lei>5T547R1474YC9HOD8Q74</lei>
        <title>Waters Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>South Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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        <cusip>8371477D3</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>WESCO Distribution, Inc.</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution, Inc.</title>
        <cusip>95081QAR5</cusip>
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          <isin value="US95081QAR56"/>
          <other otherDesc="Inhouse Asset ID" value="1335787"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87695.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Proto Labs, Inc.</name>
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        <name>Alphabet, Inc.</name>
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        <name>WFRBS Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Roche Holding AG</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Phillips 66</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TKO Worldwide Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Abercrombie &amp; Fitch Co.</name>
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        <title>Abercrombie &amp; Fitch Co., Class A</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>529900ZTXRUUVE8G8W08</lei>
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        <cusip>35564K3G2</cusip>
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          <isin value="US35564K3G29"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Long Beach Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Snowflake, Inc.</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>Snowflake, Inc., Class A</title>
        <cusip>833445109</cusip>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Asahi Kasei Corp.</name>
        <lei>353800GPI4Z3MGDGN142</lei>
        <title>Asahi Kasei Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3111200006"/>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BHP Group Ltd.</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd.</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <invCountry>N/A</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Equinix Asia Financing Corp. Pte. Ltd.</name>
        <lei>2549002E9B0F5FQ3X427</lei>
        <title>Equinix Asia Financing Corp. Pte. Ltd.</title>
        <cusip>29447KAA3</cusip>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87995.73000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>SG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2019-C17, Class AS</title>
        <cusip>12597BAY5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA</title>
        <cusip>N/A</cusip>
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        <invCountry>FR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banc of California, Inc.</name>
        <lei>549300ZKWUJDP6LJ1X87</lei>
        <title>Banc of California, Inc.</title>
        <cusip>05990K106</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust, Inc.</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc., Series 2005-2, Class 1A2A</title>
        <cusip>17307GQZ4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>GE Vernova, Inc.</name>
        <lei>254900DP080RU6OK2553</lei>
        <title>GE Vernova, Inc.</title>
        <cusip>36828A101</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Next plc</name>
        <lei>213800WQD8ECPZP9PH98</lei>
        <title>Next plc</title>
        <cusip>N/A</cusip>
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          <isin value="GB0032089863"/>
          <other otherDesc="Inhouse Asset ID" value="31932"/>
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        <balance>635.00000000</balance>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kodiak Gas Services, Inc.</name>
        <lei>N/A</lei>
        <title>Kodiak Gas Services, Inc.</title>
        <cusip>50012A108</cusip>
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          <isin value="US50012A1088"/>
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        <balance>422.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
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        <fairValLevel>1</fairValLevel>
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        <name>Omnicom Group, Inc.</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
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        <title>Uber Technologies, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Home Partners of America Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-17</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Jefferson Capital Holdings LLC</name>
        <lei>N/A</lei>
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        <cusip>472481AB6</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104821.70000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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          <isin value="US05526DBN49"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40206.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Spotify Technology SA</name>
        <lei>549300B4X0JHWV0DTD60</lei>
        <title>Spotify Technology SA</title>
        <cusip>N/A</cusip>
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          <isin value="LU1778762911"/>
          <other otherDesc="Inhouse Asset ID" value="867904"/>
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        <balance>4021.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1846161.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Kroger Co. (The)</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>Kroger Co. (The)</title>
        <cusip>501044101</cusip>
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          <isin value="US5010441013"/>
          <other otherDesc="Inhouse Asset ID" value="19407"/>
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        <balance>11101.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>616438.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Allstate Corp. (The)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp. (The)</title>
        <cusip>020002101</cusip>
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          <isin value="US0200021014"/>
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        <balance>6170.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1468089.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NPK International, Inc.</name>
        <lei>54930073OHWDQW4DJN26</lei>
        <title>NPK International, Inc.</title>
        <cusip>651718504</cusip>
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          <isin value="US6517185046"/>
          <other otherDesc="Inhouse Asset ID" value="30099"/>
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        <balance>1156.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18391.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Olema Pharmaceuticals, Inc.</name>
        <lei>N/A</lei>
        <title>Olema Pharmaceuticals, Inc.</title>
        <cusip>68062P106</cusip>
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          <isin value="US68062P1066"/>
          <other otherDesc="Inhouse Asset ID" value="1122527"/>
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        <balance>953.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11922.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nextpower, Inc.</name>
        <lei>N/A</lei>
        <title>Nextpower, Inc., Class A</title>
        <cusip>65290E101</cusip>
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          <isin value="US65290E1010"/>
          <other otherDesc="Inhouse Asset ID" value="1236924"/>
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        <balance>1141.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>135938.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Digital Realty Trust, Inc.</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust, Inc.</title>
        <cusip>253868103</cusip>
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          <isin value="US2538681030"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Waste Connections, Inc.</name>
        <lei>549300HDLRTPBQU69P29</lei>
        <title>Waste Connections, Inc.</title>
        <cusip>94106BAE1</cusip>
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          <isin value="US94106BAE11"/>
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        <balance>38000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34923.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020107</cusip>
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          <isin value="US2810201077"/>
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        <balance>3567.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>CDI</title>
        <cusip>N/A</cusip>
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        <assetCat>DCR</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>ICE Clear US</counterpartyName>
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                <indexName>Markit CDX North American Investment Grade Index Series 46-V1</indexName>
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      <invstOrSec>
        <name>Bladex, Inc.</name>
        <lei>549300CN3134K4LC0651</lei>
        <title>Bladex, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="PAP169941328"/>
          <other otherDesc="Inhouse Asset ID" value="21351"/>
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        <assetCat>EC</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Flutter Treasury DAC</name>
        <lei>635400JE8VLL9UFVIC38</lei>
        <title>Flutter Treasury DAC</title>
        <cusip>344045AB5</cusip>
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          <isin value="US344045AB55"/>
          <other otherDesc="Inhouse Asset ID" value="1477693"/>
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        <balance>200000.00000000</balance>
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        <valUSD>199396.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Mueller Water Products, Inc.</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
        <title>Mueller Water Products, Inc., Class A</title>
        <cusip>624758108</cusip>
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          <other otherDesc="Inhouse Asset ID" value="362683"/>
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        <curCd>USD</curCd>
        <valUSD>17538.57000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>MGIC Investment Corp.</name>
        <lei>254900S8483WM4M98R28</lei>
        <title>MGIC Investment Corp.</title>
        <cusip>552848103</cusip>
        <identifiers>
          <isin value="US5528481030"/>
          <other otherDesc="Inhouse Asset ID" value="29994"/>
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        <balance>8264.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233044.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XAX8</cusip>
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          <isin value="US03027XAX84"/>
          <other otherDesc="Inhouse Asset ID" value="1176660"/>
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        <balance>413000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409151.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F032682</cusip>
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          <isin value="US01F0326821"/>
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        <name>Octagon Investment Partners 49 Ltd.</name>
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        <name>10X Genomics, Inc.</name>
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        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
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        <name>SITE Centers Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Allegro CLO XII Ltd.</name>
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        <name>Novelis Corp.</name>
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        <name>RR Donnelley &amp; Sons Co.</name>
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        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
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        <name>MPT Operating Partnership LP / MPT Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Happen, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Progressive Corp. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Transocean Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Barclays plc</name>
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        <name>Vistance Networks, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Hewlett Packard Enterprise Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASML Holding NV</name>
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        <name>Mineral Resources Ltd.</name>
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        <name>Glencore plc</name>
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        <name>Oracle Corp.</name>
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        <name>QBE Insurance Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Jones Lang LaSalle, Inc.</name>
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        <name>Daiichi Sankyo Co. Ltd.</name>
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        <name>A&amp;K Travel Group Holdings Ltd.</name>
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        <name>VAT Group AG</name>
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        <name>Powszechny Zaklad Ubezpieczen SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Blue Bird Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Commercial Metals Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>US Bancorp</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Travelers Cos., Inc. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Enel SpA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Endo Finance Holdings LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HealthStream, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Motorola Solutions, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRPM Trust</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Viking Holdings Ltd.</name>
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        <name>Chipotle Mexican Grill, Inc.</name>
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        <name>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>Adobe, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>GFL Environmental, Inc.</name>
        <lei>894500E7NLBY9VZRT696</lei>
        <title>GFL Environmental, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
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        <name>Novo Nordisk A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Starwood Mortgage Residential Trust</name>
        <lei>N/A</lei>
        <title>Starwood Mortgage Residential Trust, Series 2021-3, Class A1</title>
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          <isin value="US85573JAA43"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Republic of Poland</name>
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        <title>Poland Government Bond</title>
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        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Air Liquide SA</name>
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        <title>Air Liquide SA</title>
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          <isin value="FR0000120073"/>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2016-LC25, Class XA</title>
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          <isin value="US95000JAY47"/>
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        <balance>2762276.29000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-12-15</maturityDt>
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          <annualizedRt>1.00430280</annualizedRt>
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      <invstOrSec>
        <name>Samsonite IP Holdings SARL</name>
        <lei>N/A</lei>
        <title>Samsonite IP Holdings SARL, First Lien, Initial CME Term Loan, B</title>
        <cusip>89969KAK3</cusip>
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          <isin value="US89969KAK34"/>
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        <curCd>USD</curCd>
        <valUSD>54381.74000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.39392000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northwestern Energy Group, Inc.</name>
        <lei>254900N1WG46G1VMDM34</lei>
        <title>Northwestern Energy Group, Inc.</title>
        <cusip>668074305</cusip>
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          <isin value="US6680743050"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CD Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CD Mortgage Trust, Series 2017-CD4, Class B</title>
        <cusip>12515DAU8</cusip>
        <identifiers>
          <isin value="US12515DAU81"/>
          <other otherDesc="Inhouse Asset ID" value="1292396"/>
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        <balance>182000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>174370.94000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.94700040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Imperial Brands plc</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>Imperial Brands plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0004544929"/>
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        <balance>12713.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3138WG5Q3</cusip>
        <identifiers>
          <isin value="US3138WG5Q31"/>
          <other otherDesc="Inhouse Asset ID" value="1296618"/>
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        <balance>289264.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>258923.50000000</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>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital Corp.</title>
        <cusip>161175BT0</cusip>
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          <isin value="US161175BT05"/>
          <other otherDesc="Inhouse Asset ID" value="1016559"/>
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        <balance>383000.00000000</balance>
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        <valUSD>285966.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>Terex Corp.</name>
        <lei>YAWJZJYEQ7M1SYMOS462</lei>
        <title>Terex Corp.</title>
        <cusip>880779BA0</cusip>
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          <isin value="US880779BA01"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44639.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Smithfield Foods, Inc.</name>
        <lei>CVTIPZRZJC0JQEZLL598</lei>
        <title>Smithfield Foods, Inc.</title>
        <cusip>832248207</cusip>
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        <balance>6961.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust, Series 2024-9, Class A11</title>
        <cusip>46593DAX5</cusip>
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          <isin value="US46593DAX57"/>
          <other otherDesc="Inhouse Asset ID" value="1394666"/>
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        <balance>59606.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59717.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.97775960</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nidec Corp.</name>
        <lei>353800IF171MZTNL6Y31</lei>
        <title>Nidec Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3734800000"/>
          <other otherDesc="Inhouse Asset ID" value="59065"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NewMarket Corp.</name>
        <lei>54930082CG88ERDREQ47</lei>
        <title>NewMarket Corp.</title>
        <cusip>651587107</cusip>
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          <isin value="US6515871076"/>
          <other otherDesc="Inhouse Asset ID" value="306713"/>
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        <balance>308.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Reckitt Benckiser Group plc</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group plc</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BSZBP530"/>
          <other otherDesc="Inhouse Asset ID" value="400229"/>
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        <balance>5783.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Calpine Construction Finance Co. LP</name>
        <lei>V0Q3DOB0FIB2XI1KWU77</lei>
        <title>Calpine Construction Finance Co. LP, First Lien, 2025 Refinancing CME Term Loan</title>
        <cusip>13134NAK7</cusip>
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          <isin value="US13134NAK72"/>
          <other otherDesc="Inhouse Asset ID" value="1544314"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140065.10000000</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.39392000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of El Salvador</name>
        <lei>529900AKDMUSFSDOM949</lei>
        <title>El Salvador Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP01012BX31"/>
          <other otherDesc="Inhouse Asset ID" value="660712"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190104.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SV</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <name>Canadian National Railway Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pfizer, Inc.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Sprint Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Walt Disney Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QXO Building Products, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ares LXIX CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Veeva Systems, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Amkor Technology, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <name>Vertiv Holdings Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Rocket Software, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco de Sabadell SA</name>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <name>Danish Krone</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ROBLOX Corp.</name>
        <lei>529900ANZDBDFU91SO19</lei>
        <title>ROBLOX Corp., Class A</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Autodesk, Inc.</name>
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        <name>Sysco Corp.</name>
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        <name>OneMain Finance Corp.</name>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>Trinitas CLO XV Ltd.</name>
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        <name>Southern Power Co.</name>
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        <name>Neuberger Berman Loan Advisers CLO 51 Ltd.</name>
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        <name>Structured Asset Mortgage Investments II Trust</name>
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        <name>Vistra Corp.</name>
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        <name>Itau Unibanco Holding SA</name>
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        <name>Seneca Foods Corp.</name>
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        <name>Magnetite XL Ltd.</name>
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        <name>Universal Insurance Holdings, Inc.</name>
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        <name>Eversource Energy</name>
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        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Laureate Education, Inc.</name>
        <lei>5JL7TMOH5TY3IUYSUP91</lei>
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        <name>Venture Global Plaquemines LNG LLC</name>
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        <name>Ares Capital Corp.</name>
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        <name>Sandisk Corp.</name>
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        <name>Sound Point CLO XXVI Ltd.</name>
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        <name>Iskandar Enterprise LLC</name>
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        <name>Computershare Ltd.</name>
        <lei>21380085HOKTMGLV9G93</lei>
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        <name>Nanya Technology Corp.</name>
        <lei>254900STKVKJBRRO0835</lei>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Otis Worldwide Corp.</name>
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        <title>Otis Worldwide Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>GigaCloud Technology, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="164333"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Cos., Inc.</name>
        <lei>N/A</lei>
        <title>Rocket Cos., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Crescent Energy Finance LLC</name>
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        <title>Crescent Energy Finance LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AS Mileage Plan IP Ltd.</name>
        <lei>N/A</lei>
        <title>AS Mileage Plan IP Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment, Inc., First Lien, Initial CME Term Loan, B</title>
        <cusip>53803HAY6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
        <cusip>629377CT7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>COMM Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alexander's, Inc.</name>
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        <name>NVIDIA Corp.</name>
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        <name>Freedom Mortgage Corp.</name>
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        <name>Froneri Lux FinCo SARL</name>
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        <name>Coronado Finance Pty. Ltd.</name>
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        <name>American Axle &amp; Manufacturing, Inc.</name>
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        <name>Bank of Nova Scotia (The)</name>
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        <name>Al Rajhi Bank</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>Viking Cruises Ltd.</name>
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        <title>Viking Cruises Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Banijay Entertainment SAS</name>
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        <name>Murphy Oil Corp.</name>
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        <name>Palantir Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Avolta AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
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        <name>Intesa Sanpaolo SpA</name>
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        <name>Invitation Homes, Inc.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp.</title>
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          <isin value="US682691AG50"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>122528.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Knife River Corp.</name>
        <lei>N/A</lei>
        <title>Knife River Corp., First Lien, 2026 CME Term Loan, B</title>
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          <isin value="US49889LAG14"/>
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        <curCd>USD</curCd>
        <valUSD>50297.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-08</maturityDt>
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          <annualizedRt>5.40107000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SkyWest, Inc.</name>
        <lei>529900UYS2KGS6Z42P09</lei>
        <title>SkyWest, Inc.</title>
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          <isin value="US8308791024"/>
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        <curCd>USD</curCd>
        <valUSD>103005.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="167918"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-7.53000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS AG</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp., Class A</title>
        <cusip>20030N101</cusip>
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          <isin value="US20030N1019"/>
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        <balance>8524.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>209264.20000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Merchants Corp.</name>
        <lei>TZTBT0OTGQ2FEK6XMX94</lei>
        <title>First Merchants Corp.</title>
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          <isin value="US3208171096"/>
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        <balance>220.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
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          <isin value="US61690FAQ63"/>
          <other otherDesc="Inhouse Asset ID" value="1292361"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114455.26000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-15</maturityDt>
          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>GoDaddy, Inc.</name>
        <lei>549300J8H1TB0I2CB447</lei>
        <title>GoDaddy, Inc., Class A</title>
        <cusip>380237107</cusip>
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          <isin value="US3802371076"/>
          <other otherDesc="Inhouse Asset ID" value="600552"/>
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        <balance>2440.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>207107.20000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
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          <isin value="US432833AS06"/>
          <other otherDesc="Inhouse Asset ID" value="1492297"/>
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        <balance>365000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>366548.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avista Corp.</name>
        <lei>Q0IK63NITJD6RJ47SW96</lei>
        <title>Avista Corp.</title>
        <cusip>05379B107</cusip>
        <identifiers>
          <isin value="US05379B1070"/>
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        <balance>1601.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65496.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASE Technology Holding Co. Ltd.</name>
        <lei>300300GO8QHPMV87NZ73</lei>
        <title>ASE Technology Holding Co. Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="TW0003711008"/>
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        <currencyConditional curCd="TWD" exchangeRt="31.85650000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Ladder Capital Corp.</name>
        <lei>549300Q6LLV2QCV67C06</lei>
        <title>Ladder Capital Corp., Class A</title>
        <cusip>505743104</cusip>
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        <curCd>USD</curCd>
        <valUSD>17422.45000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Standard Building Solutions, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Building Solutions, Inc.</title>
        <cusip>853191AA2</cusip>
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          <isin value="US853191AA25"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90602.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fortinet, Inc.</name>
        <lei>549300O0QJWDBAS0QX03</lei>
        <title>Fortinet, Inc.</title>
        <cusip>34959E109</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Xcel Energy, Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy, Inc.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital Corp.</title>
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          <isin value="US161175CD44"/>
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        <balance>277000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BHP Group Ltd.</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd.</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Time Warner Cable Enterprises LLC</name>
        <lei>N/A</lei>
        <title>Time Warner Cable Enterprises LLC</title>
        <cusip>88731EAJ9</cusip>
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          <isin value="US88731EAJ91"/>
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        <balance>28000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31048.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>N/A</lei>
        <title>FNMA Connecticut Avenue Securities Trust, Series 2026-R01, Class 2A1</title>
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          <isin value="US20755BAA89"/>
          <other otherDesc="Inhouse Asset ID" value="1574072"/>
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        <balance>219298.85000000</balance>
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        <curCd>USD</curCd>
        <valUSD>219307.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.47775920</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <fairValLevel>2</fairValLevel>
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        <name>Lumen Technologies, Inc.</name>
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        <name>Kellanova</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>SMBC Aviation Capital Finance DAC</name>
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        <name>Cardinal Health, Inc.</name>
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        <name>Blueprint Medicines Corp.</name>
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        <name>Olympus Corp.</name>
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        <lei>549300YSK3QDSFR5EU59</lei>
        <title>Dexcom, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Taiwan Dollar</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Rockwell Automation, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American States Water Co.</name>
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          <isin value="US0298991011"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Urban Edge Properties</name>
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        <fairValLevel>1</fairValLevel>
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        <name>LY Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dana, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Nasdaq, Inc.</name>
        <lei>549300L8X1Q78ERXFD06</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>Archrock Services LP / Archrock Partners Finance Corp.</name>
        <lei>N/A</lei>
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        <cusip>03958CAA7</cusip>
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          <isin value="US03958CAA71"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Jefferies Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco LP</name>
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        <title>Sunoco LP</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Talanx AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135CT1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>New Israeli Sheqel</name>
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        <title>New Israeli Sheqel</title>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>VEGAS</name>
        <lei>N/A</lei>
        <title>VEGAS, Series 2024-GCS, Class D</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Penn Entertainment, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Outfront Media, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Mitsubishi Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Erste Group Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hanover Insurance Group, Inc. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JB Hunt Transport Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Berkshire Hathaway, Inc.</name>
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        <name>Mativ Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Hilcorp Energy I LP / Hilcorp Finance Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>T-Mobile US, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Meta Platforms, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chroma ATE, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Zais CLO 16 Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Quanta Services, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ACADIA Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Axalta Coating Systems Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Shift4 Payments LLC / Shift4 Payments Finance Sub, Inc.</name>
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        <name>Advanced Micro Devices, Inc.</name>
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        <name>Norsk Hydro ASA</name>
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        <name>Gabx Leasing LLC</name>
        <lei>25490085PXP0WGRIRI44</lei>
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        <name>Apollo Global Management, Inc.</name>
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        <name>Ball Corp.</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
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        <name>Sanmina Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Unilever Indonesia Tbk. PT</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>SV RNO Property Owner 1 LLC</name>
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        <name>American Express Co.</name>
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        <name>Manhattan Associates, Inc.</name>
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        <name>SK Square Co. Ltd.</name>
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        <name>Chevron Corp.</name>
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        <name>Nissan Motor Co. Ltd.</name>
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        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>Ouster, Inc.</name>
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        <name>Crown Point CLO 10 Ltd.</name>
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        <name>Atlassian Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>First Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Great Canadian Gaming Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Ebara Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Seagate Technology Holdings plc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Oshkosh Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tapestry, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CVS Health Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prestige Brands, Inc.</name>
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        <name>Southern California Gas Co.</name>
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        <name>Arrowhead Pharmaceuticals, Inc.</name>
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        <name>Palomino Funding Trust I</name>
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        <name>Banner Corp.</name>
        <lei>N/A</lei>
        <title>Banner Corp.</title>
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        <name>DHT Holdings, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Anglo American Capital plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Origin Bancorp, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Adient Global Holdings Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Target Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>ESAB Corp.</name>
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        <name>BioMarin Pharmaceutical</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Halliburton Co.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Australian Dollar</name>
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        <name>Insulet Corp.</name>
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        <name>Arroyo Mortgage Trust</name>
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        <name>Hilcorp Energy I LP / Hilcorp Finance Co.</name>
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        <name>ConocoPhillips</name>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Commercial Metals Co.</name>
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        <name>S&amp;P Global, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIB Group plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RHP Hotel Properties LP / RHP Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tyson Foods, Inc.</name>
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        <title>Tyson Foods, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avery Dennison Corp.</name>
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        <title>Avery Dennison Corp.</title>
        <cusip>053611109</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Cia de Saneamento Basico do Estado de Sao Paulo SABESP</name>
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        <title>Cia de Saneamento Basico do Estado de Sao Paulo SABESP</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Edwards Lifesciences Corp.</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vistra Corp.</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>Vistra Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>SCIH Salt Holdings, Inc.</name>
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        <cusip>78433BAA6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Puget Sound Energy, Inc.</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
        <title>Puget Sound Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA or FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WFRBS Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <cusip>61764XBM6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31396K2S0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>LPL Holdings, Inc.</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPL Holdings, Inc.</title>
        <cusip>50212YAL8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RHP Hotel Properties LP / RHP Finance Corp.</name>
        <lei>N/A</lei>
        <title>RHP Hotel Properties LP / RHP Finance Corp.</title>
        <cusip>74984CAA6</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aisin Corp.</name>
        <lei>3538004IOK08PDY6I723</lei>
        <title>Aisin Corp.</title>
        <cusip>N/A</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oaktree CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Oaktree CLO Ltd., Series 2021-2A, Class AR</title>
        <cusip>67389BAQ8</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Murphy Oil Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Paramount Global</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MAST Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tanger, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Allison Transmission, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sixth Street CLO XXV Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Asia Vital Components Co. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Penske Truck Leasing Co. LP / PTL Finance Corp.</name>
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        <name>Corpay Technologies Operating Co. LLC</name>
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        <name>Appian Corp.</name>
        <lei>529900NIARIFW7HGU386</lei>
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        <name>RCO IX Mortgage LLC</name>
        <lei>N/A</lei>
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        <name>LTC Properties, Inc.</name>
        <lei>549300NRZP8IJG2KY677</lei>
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        <name>Micron Technology, Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology, Inc.</title>
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        <name>Primoris Services Corp.</name>
        <lei>549300UF3OLBJ8D5K349</lei>
        <title>Primoris Services Corp.</title>
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        <name>Mountain View CLO XV Ltd.</name>
        <lei>254900VKL64PZVEG4F33</lei>
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        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
        <cusip>42704LAH7</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Elmwood CLO 33 Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Buyer Ltd. / Atlantica Sustainable Infrastructure plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toyota Motor Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilcorp Energy I LP / Hilcorp Finance Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Coca-Cola Co. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Rocket Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Gas and Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Supernus Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>One Bryant Park Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Caterpillar, Inc.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Carlyle US CLO Ltd.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <name>CMS Energy Corp.</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Genmab A/S</name>
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        <title>Genmab A/S</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Janus Henderson Group plc</name>
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        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>United Rentals North America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Norfolk Southern Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ARM Holdings plc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Ameriprise Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EchoStar Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Precigen, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kinder Morgan, Inc.</name>
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        <title>Kinder Morgan, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominican Republic</name>
        <lei>254900EHU7Q8FGVPI369</lei>
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        <invCountry>DO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Concentra Health Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>VICI Properties, Inc.</name>
        <lei>254900RKH6RY9KCJQH63</lei>
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        <name>Albaugh LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wayfair LLC</name>
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        <title>Wayfair LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BBCMS Mortgage Trust</name>
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        <name>Monarch Casino &amp; Resort, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UKG, Inc.</name>
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        <name>Gold.com, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CNO Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Rigel Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Insulet Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oaktree CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <name>Aena SME SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kenvue, Inc.</name>
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        <name>UniCredit SpA</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>Vistra Operations Co. LLC</name>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
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        <name>Discovery Global Holdings, Inc.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Moody's Corp.</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</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>Putnam Short Term Investment Fund</name>
        <lei>549300S9JYWEMKQCLW53</lei>
        <title>Putnam Short Term Investment Fund, Class P</title>
        <cusip>74676P664</cusip>
        <identifiers>
          <isin value="US74676P6640"/>
          <other otherDesc="Inhouse Asset ID" value="1319393"/>
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        <balance>51037794.68000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51037794.68000000</valUSD>
        <pctVal>5.977249468204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="Investment company"/>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GE HealthCare Technologies, Inc.</name>
        <lei>549300OI9J7XOWZMUN85</lei>
        <title>GE HealthCare Technologies, Inc.</title>
        <cusip>36266GAD9</cusip>
        <identifiers>
          <isin value="US36266GAD97"/>
          <other otherDesc="Inhouse Asset ID" value="1550383"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148686.61000000</valUSD>
        <pctVal>0.017413310393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2023-152, Class FB</title>
        <cusip>38384DZX8</cusip>
        <identifiers>
          <isin value="US38384DZX82"/>
          <other otherDesc="Inhouse Asset ID" value="1383973"/>
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        <balance>255721.50000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261697.35000000</valUSD>
        <pctVal>0.030648470529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.75872120</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>Travere Therapeutics, Inc.</name>
        <lei>N/A</lei>
        <title>Travere Therapeutics, Inc.</title>
        <cusip>89422G107</cusip>
        <identifiers>
          <isin value="US89422G1076"/>
          <other otherDesc="Inhouse Asset ID" value="575813"/>
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        <balance>2322.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>131912.82000000</valUSD>
        <pctVal>0.015448861733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441CAX3</cusip>
        <identifiers>
          <isin value="US26441CAX39"/>
          <other otherDesc="Inhouse Asset ID" value="671748"/>
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        <balance>433000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>426887.40000000</valUSD>
        <pctVal>0.049994567763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F040685</cusip>
        <identifiers>
          <isin value="US01F0406854"/>
          <other otherDesc="Inhouse Asset ID" value="1629592"/>
        </identifiers>
        <balance>-300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-280218.04000000</valUSD>
        <pctVal>-0.03281750594</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crescent Energy Co.</name>
        <lei>254900FBNP5A21Q39U97</lei>
        <title>Crescent Energy Co.</title>
        <cusip>44952JAA2</cusip>
        <identifiers>
          <isin value="US44952JAA25"/>
          <other otherDesc="Inhouse Asset ID" value="1586700"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73950.00000000</valUSD>
        <pctVal>0.008660593604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Crescent Energy Co</name>
              <title>Crescent Energy Co</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="44952J104"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="67.14559800" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Talen Energy Supply LLC</name>
        <lei>K5K33XN0PQAU1XF7NN66</lei>
        <title>Talen Energy Supply LLC</title>
        <cusip>87422VAP3</cusip>
        <identifiers>
          <isin value="US87422VAP31"/>
          <other otherDesc="Inhouse Asset ID" value="1609433"/>
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        <balance>145000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144877.88000000</valUSD>
        <pctVal>0.016967254102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</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>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
        <cusip>09261HAK3</cusip>
        <identifiers>
          <isin value="US09261HAK32"/>
          <other otherDesc="Inhouse Asset ID" value="1214031"/>
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        <balance>88000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86922.14000000</valUSD>
        <pctVal>0.010179815141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>N/A</name>
        <lei>N/A</lei>
        <title>CDI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1593548"/>
        </identifiers>
        <balance>18500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114352.12000000</valUSD>
        <pctVal>0.013392254754</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>ICE Clear US</counterpartyName>
              <counterpartyLei>549300HWWR1D8OTS2G29</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Markit CDX North American Investment Grade Index Series 46-V1</indexName>
                <indexIdentifier>2I65BYEJ0</indexIdentifier>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">Payout of notional amount upon default event with regard to the reference instrument</otherPmntDesc>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>18500000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>114352.12000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A3C3</cusip>
        <identifiers>
          <isin value="US04685A3C32"/>
          <other otherDesc="Inhouse Asset ID" value="1193304"/>
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        <balance>430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404070.64000000</valUSD>
        <pctVal>0.047322401628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.98500000</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>Delek US Holdings, Inc.</name>
        <lei>5493003O53JMENV1N385</lei>
        <title>Delek US Holdings, Inc.</title>
        <cusip>24665A103</cusip>
        <identifiers>
          <isin value="US24665A1034"/>
          <other otherDesc="Inhouse Asset ID" value="817511"/>
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        <balance>378.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19206.18000000</valUSD>
        <pctVal>0.002249316019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 3065, Class DC</title>
        <cusip>31396EU46</cusip>
        <identifiers>
          <isin value="US31396EU468"/>
          <other otherDesc="Inhouse Asset ID" value="1293043"/>
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        <balance>25213.62000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25609.17000000</valUSD>
        <pctVal>0.002999196942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.73753120</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>Capricor Therapeutics, Inc.</name>
        <lei>5493002ZI5PDLXV4DX14</lei>
        <title>Capricor Therapeutics, Inc.</title>
        <cusip>14070B309</cusip>
        <identifiers>
          <isin value="US14070B3096"/>
          <other otherDesc="Inhouse Asset ID" value="960301"/>
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        <balance>670.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16133.60000000</valUSD>
        <pctVal>0.001889473332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mineral Resources Ltd.</name>
        <lei>5299007V1ACKFFX2P066</lei>
        <title>Mineral Resources Ltd.</title>
        <cusip>603051AG8</cusip>
        <identifiers>
          <isin value="US603051AG84"/>
          <other otherDesc="Inhouse Asset ID" value="1609914"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39595.49000000</valUSD>
        <pctVal>0.004637193339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Corcept Therapeutics, Inc.</name>
        <lei>529900EO9LUTFMZ7FF90</lei>
        <title>Corcept Therapeutics, Inc.</title>
        <cusip>218352102</cusip>
        <identifiers>
          <isin value="US2183521028"/>
          <other otherDesc="Inhouse Asset ID" value="315825"/>
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        <balance>1785.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>155205.75000000</valUSD>
        <pctVal>0.018176794128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Legalzoom.com, Inc.</name>
        <lei>5493000L8EBF74Y9JZ48</lei>
        <title>Legalzoom.com, Inc.</title>
        <cusip>52466B103</cusip>
        <identifiers>
          <isin value="US52466B1035"/>
          <other otherDesc="Inhouse Asset ID" value="1152901"/>
        </identifiers>
        <balance>6932.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42493.16000000</valUSD>
        <pctVal>0.004976551585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Osaic Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ArcelorMittal SA</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140NUCB31"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Industries, Inc.</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries, Inc.</title>
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          <isin value="US853496AH04"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36027.17000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Clydesdale Acquisition Holdings, Inc.</name>
        <lei>254900QKSDYFR3K5YD98</lei>
        <title>Clydesdale Acquisition Holdings, Inc.</title>
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        <balance>145000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ATI, Inc.</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-15</maturityDt>
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          <annualizedRt>7.25000000</annualizedRt>
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        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
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          <isin value="US38141G1040"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Payoneer Global, Inc.</name>
        <lei>984500491C64C70FF033</lei>
        <title>Payoneer Global, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Ashtead Capital, Inc.</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Kite Realty Group Trust</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Preferred Bank</name>
        <lei>5493007K6HGI9G0ECX16</lei>
        <title>Preferred Bank</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Prime Security Services Borrower LLC</name>
        <lei>549300O6QPZVWXV2DC15</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Univest Financial Corp.</name>
        <lei>4WII2HCR8UEWNU03U507</lei>
        <title>Univest Financial Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Moody's Corp.</name>
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        <name>Intel Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Matson, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Athene Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nexon Co. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison IAQ LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AstraZeneca plc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Modine Manufacturing Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Arab Republic of Egypt</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CF Industries Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Public Storage</name>
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        <title>Public Storage</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Inpex Corp.</name>
        <lei>353800VHYYADPR6MXQ47</lei>
        <title>Inpex Corp.</title>
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        <name>Bank of Hawaii Corp.</name>
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        <title>Bank of Hawaii Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NCR Atleos Corp.</name>
        <lei>9845005FC3S0VA714741</lei>
        <title>NCR Atleos Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Republic of North Macedonia</name>
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        <name>Republic of Poland</name>
        <lei>259400R9L8QEP0TPXS31</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FormFactor, Inc.</name>
        <lei>549300YCEEO6SZD1ZR61</lei>
        <title>FormFactor, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>First Horizon Corp.</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>GNMA</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Light &amp; Wonder International, Inc.</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>US Foods, Inc.</name>
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        <title>US Foods, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Select Medical Holdings Corp.</name>
        <lei>N/A</lei>
        <title>Select Medical Holdings Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>RHP Hotel Properties LP / RHP Finance Corp.</name>
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        <title>RHP Hotel Properties LP / RHP Finance Corp.</title>
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        <valUSD>20446.88000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fresenius SE &amp; Co. KGaA</name>
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        <title>Fresenius SE &amp; Co. KGaA</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AIA Group Ltd.</name>
        <lei>ZP5ILWVSYE4LJGMMVD57</lei>
        <title>AIA Group Ltd.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Financial Services Corp.</name>
        <lei>5493001XTU5DLD632129</lei>
        <title>Enterprise Financial Services Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
        <cusip>69331CAM0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>3M Co.</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M Co.</title>
        <cusip>88579Y101</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>SSR Mining, Inc.</name>
        <lei>549300JD2KR7AB9DYJ38</lei>
        <title>SSR Mining, Inc.</title>
        <cusip>784730103</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Penske Truck Leasing Co. LP / PTL Finance Corp.</name>
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        <title>Penske Truck Leasing Co. LP / PTL Finance Corp.</title>
        <cusip>709599BN3</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 5438, Class FC</title>
        <cusip>3137HF7D1</cusip>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Reinsurance Group of America, Inc.</name>
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        <name>Marathon Petroleum Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NETGEAR, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>WaMu Mortgage Pass-Through Certificates Trust</name>
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        <name>FNMA or FHLMC</name>
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        <name>Bunzl plc</name>
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        <name>Broadcom, Inc.</name>
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        <name>PACCAR, Inc.</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>Nabors Industries, Inc.</name>
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        <name>Western Digital Corp.</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp.</title>
        <cusip>958102105</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Ingevity Corp.</name>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Ryanair Holdings plc</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Peer Holding III BV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ICICI Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Booking Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Affiliated Managers Group, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Perdoceo Education Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Central Pacific Financial Corp.</name>
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        <name>Magnera Corp.</name>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>DaVita, Inc.</name>
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        <name>Caesars Entertainment, Inc.</name>
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        <name>Alcon AG</name>
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        <name>Equinix, Inc.</name>
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        <name>United Rentals, Inc.</name>
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        <title>United Rentals, Inc.</title>
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        <name>GNMA</name>
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        <name>Beacon Mobility Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Battalion CLO 18 Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FedEx Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Enova International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FHLMC Pool</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rocket Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clearway Energy Operating LLC</name>
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        <name>Hudbay Minerals, Inc.</name>
        <lei>894500LX3TMESP27BE29</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Bombardier, Inc.</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
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        <name>Hexion Holdings Corp.</name>
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        <name>Commvault Systems, Inc.</name>
        <lei>65T5VRP62VXG39YFML83</lei>
        <title>Commvault Systems, Inc.</title>
        <cusip>204166102</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Aditya Birla Capital Ltd.</name>
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        <name>CVB Financial Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Venture 41 CLO Ltd.</name>
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        <name>Romania</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Incyte Corp.</name>
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        <name>Vicor Corp.</name>
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        <name>Visa, Inc.</name>
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        <name>FHLMC</name>
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        <name>Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.</name>
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        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>Parker-Hannifin Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA or FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Public Service Electric and Gas Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Crown Holdings, Inc.</name>
        <lei>NYLWZIOY8PUNIT4JOE22</lei>
        <title>Crown Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Cloud Software Group, Inc.</name>
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        <cusip>88632NBL3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Station Place Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Q2 Holdings, Inc.</name>
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        <title>Q2 Holdings, Inc.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Alamo Group, Inc.</name>
        <lei>54930080C93RVZRSDV26</lei>
        <title>Alamo Group, Inc.</title>
        <cusip>011311107</cusip>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Bread Financial Holdings, Inc.</name>
        <lei>549300G8S4PO686J7H97</lei>
        <title>Bread Financial Holdings, Inc.</title>
        <cusip>018581108</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
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        <invCountry>SG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Illinois Tool Works, Inc.</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>Illinois Tool Works, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Keyence Corp.</name>
        <lei>529900M7PQBS7A89DZ11</lei>
        <title>Keyence Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>WFRBS Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3140X7Y29</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Samsung Electronics Co. Ltd.</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co. Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Software, Inc.</name>
        <lei>549300B6PYHMCTDWQV29</lei>
        <title>Constellation Software, Inc.</title>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3140EXBB8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NCL Corp. Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL Corp. Ltd.</title>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Bombardier, Inc.</name>
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        <name>Simmons First National Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Patterson-UTI Energy, Inc.</name>
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        <name>G-III Apparel Group Ltd.</name>
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        <name>Vistra Operations Co. LLC</name>
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        <name>StoneCo Ltd.</name>
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        <name>Hecla Mining Co.</name>
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        <name>Apple, Inc.</name>
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        <title>Apple, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300IUTGTP6EJP8124</lei>
        <title>Leidos Holdings, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Zijin Mining Group Co. Ltd.</name>
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        <name>American Eagle Outfitters, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Navitas Semiconductor Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Station Place Securitization Trust</name>
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        <name>PubMatic, Inc.</name>
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        <name>Novelis Corp.</name>
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        <name>N/A</name>
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        <name>7-Eleven, Inc.</name>
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        <name>Encore Capital Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>T-Mobile USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Berkshire Hathaway Finance Corp.</name>
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        <title>Berkshire Hathaway Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CVS Health Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Froneri US, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Teekay Corp. Ltd.</name>
        <lei>YHKQM2RIPKZYOZ6RVZ46</lei>
        <title>Teekay Corp. Ltd.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Acrisure LLC / Acrisure Finance, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BorgWarner, Inc.</name>
        <lei>549300DSFX2IE88NSX47</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Republic of South Africa</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sensata Technologies, Inc.</name>
        <lei>5493002MMDDCUNV7NY90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Tutor Perini Corp.</name>
        <lei>549300FHXYVPW8LJ6D98</lei>
        <title>Tutor Perini Corp.</title>
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        <name>ARC Falcon I, Inc. / Arclin USA LLC / New Arclin US Holding Corp.</name>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
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        <name>Weichai Power Co. Ltd.</name>
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        <name>Gen Digital, Inc.</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>New York Times Co. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Viper Energy Partners LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
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        <name>Grupo Financiero Banorte SAB de CV</name>
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        <name>VZ Secured Financing BV</name>
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        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Atmus Filtration Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rambus, Inc.</name>
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        <name>FHLMC</name>
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        <name>CACI International, Inc.</name>
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        <name>Phreesia, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Watco Cos. LLC / Watco Finance Corp.</name>
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        <name>Murphy Oil Corp.</name>
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        <name>American Tower Corp.</name>
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        <title>American Tower Corp.</title>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Clean Harbors, Inc.</name>
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        <name>DexKo Global, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Icon Investments Six DAC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Boliden AB</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Airlines, Inc. / AAdvantage Loyalty IP Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Viking Cruises Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>EquipmentShare.com, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hilcorp Energy I LP / Hilcorp Finance Co.</name>
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        <name>Station Casinos LLC</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Swedish Krona</name>
        <lei>N/A</lei>
        <title>Swedish Krona</title>
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        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Colossus Acquireco LLC</name>
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        <name>DH Europe Finance II SARL</name>
        <lei>222100KDGL314CKTZ511</lei>
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        <name>Dryden 86 CLO Ltd.</name>
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      <invstOrSec>
        <name>Seagate Data Storage Technology Pte. Ltd.</name>
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        <invCountry>SG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3138WH6L1</cusip>
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          <isin value="US3138WH6L17"/>
          <other otherDesc="Inhouse Asset ID" value="647133"/>
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        <balance>173186.17000000</balance>
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        <curCd>USD</curCd>
        <valUSD>155076.46000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UKG, Inc.</name>
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        <cusip>89841EAB1</cusip>
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          <isin value="US89841EAB11"/>
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        <balance>9825.75000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9276.39000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>5493000IS4M3TZMRB410</lei>
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        <cusip>35564KUX5</cusip>
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          <isin value="US35564KUX52"/>
          <other otherDesc="Inhouse Asset ID" value="1208294"/>
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        <balance>12000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12179.70000000</valUSD>
        <pctVal>0.001426415577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.52776120</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>CareTrust REIT, Inc.</name>
        <lei>5493001NVXE2B9GPLU96</lei>
        <title>CareTrust REIT, Inc.</title>
        <cusip>14174T107</cusip>
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          <isin value="US14174T1079"/>
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        <balance>2957.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>119314.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cabot Corp.</name>
        <lei>K05C0SER542GQ6VLRO68</lei>
        <title>Cabot Corp.</title>
        <cusip>127055101</cusip>
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          <isin value="US1270551013"/>
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        <balance>204.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18527.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mahindra &amp; Mahindra Ltd.</name>
        <lei>3358003B573EV4KB4Z02</lei>
        <title>Mahindra &amp; Mahindra Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE101A01026"/>
          <other otherDesc="Inhouse Asset ID" value="178795"/>
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        <balance>7729.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="94.65875000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3140FXFJ6</cusip>
        <identifiers>
          <isin value="US3140FXFJ60"/>
          <other otherDesc="Inhouse Asset ID" value="1361904"/>
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        <balance>885222.14000000</balance>
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        <curCd>USD</curCd>
        <valUSD>801018.61000000</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>2057-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pagseguro Digital Ltd.</name>
        <lei>391200VY4YW47I4HGH62</lei>
        <title>Pagseguro Digital Ltd., Class A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG687071012"/>
          <other otherDesc="Inhouse Asset ID" value="821664"/>
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        <balance>10351.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93676.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Monolithic Power Systems, Inc.</name>
        <lei>529900TB7O85LSZ1XU31</lei>
        <title>Monolithic Power Systems, Inc.</title>
        <cusip>609839105</cusip>
        <identifiers>
          <isin value="US6098391054"/>
          <other otherDesc="Inhouse Asset ID" value="322260"/>
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        <balance>135.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>186618.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2016-JP3, Class AS</title>
        <cusip>46590RAJ8</cusip>
        <identifiers>
          <isin value="US46590RAJ86"/>
          <other otherDesc="Inhouse Asset ID" value="658299"/>
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        <balance>256000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249025.51000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.14400000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Waste Pro USA, Inc.</name>
        <lei>549300BY1QXU5BI3UF28</lei>
        <title>Waste Pro USA, Inc.</title>
        <cusip>94107JAC7</cusip>
        <identifiers>
          <isin value="US94107JAC71"/>
          <other otherDesc="Inhouse Asset ID" value="1435730"/>
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        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>128223.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>529900WZAMS87JCAOC53</lei>
        <title>FHLMC STACR REMIC Trust, Series 2025-DNA1, Class A1</title>
        <cusip>35564NFY4</cusip>
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          <isin value="US35564NFY40"/>
          <other otherDesc="Inhouse Asset ID" value="1435980"/>
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        <balance>263580.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263898.91000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.57776000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F022683</cusip>
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          <isin value="US01F0226831"/>
          <other otherDesc="Inhouse Asset ID" value="1629598"/>
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        <balance>27480000.00000000</balance>
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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>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Securities</title>
        <cusip>01F020687</cusip>
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          <isin value="US01F0206874"/>
          <other otherDesc="Inhouse Asset ID" value="1629596"/>
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        <balance>840000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>670683.48000000</valUSD>
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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>2.00000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BankUnited, Inc.</name>
        <lei>96OVUWEW5D4YX6PFXD91</lei>
        <title>BankUnited, Inc.</title>
        <cusip>06652K103</cusip>
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          <isin value="US06652K1034"/>
          <other otherDesc="Inhouse Asset ID" value="486810"/>
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        <balance>384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18604.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canadian Natural Resources Ltd.</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>Canadian Natural Resources Ltd.</title>
        <cusip>136385BD2</cusip>
        <identifiers>
          <isin value="US136385BD27"/>
          <other otherDesc="Inhouse Asset ID" value="1543027"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>166691.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0005140008"/>
          <other otherDesc="Inhouse Asset ID" value="63625"/>
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        <balance>10856.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519692"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kodiak Gas Services LLC</name>
        <lei>549300ZQBRWEUOVOM131</lei>
        <title>Kodiak Gas Services LLC</title>
        <cusip>50012LAD6</cusip>
        <identifiers>
          <isin value="US50012LAD64"/>
          <other otherDesc="Inhouse Asset ID" value="1512592"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>233272.44000000</valUSD>
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        <name>VSE Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Gas and Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DK Crown Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>eBay, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Efesto Bidco SpA Efesto US LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cintas Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Alpha Generation LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virtu Financial, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Redevelopment Authority of the City of Philadelphia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac Banking Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bunge Ltd. Finance Corp.</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Linde plc</name>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Ares Capital Corp.</name>
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        <title>Ares Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AE7</cusip>
        <identifiers>
          <isin value="US428102AE79"/>
          <other otherDesc="Inhouse Asset ID" value="1158141"/>
        </identifiers>
        <balance>470000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453618.43000000</valUSD>
        <pctVal>0.053125150420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iron Mountain, Inc.</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc.</title>
        <cusip>46284VAQ4</cusip>
        <identifiers>
          <isin value="US46284VAQ41"/>
          <other otherDesc="Inhouse Asset ID" value="1425236"/>
        </identifiers>
        <balance>215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217356.19000000</valUSD>
        <pctVal>0.025455491939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Melrose Industries plc</name>
        <lei>213800RGNXXZY2M7TR85</lei>
        <title>Melrose Industries plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BNGDN821"/>
          <other otherDesc="Inhouse Asset ID" value="617831"/>
        </identifiers>
        <balance>23666.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389197"/>
        <valUSD>149229.59000000</valUSD>
        <pctVal>0.017476901050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Match Group Holdings II LLC</name>
        <lei>5493003RFFE030RC9167</lei>
        <title>Match Group Holdings II LLC</title>
        <cusip>57665RAN6</cusip>
        <identifiers>
          <isin value="US57665RAN61"/>
          <other otherDesc="Inhouse Asset ID" value="1069965"/>
        </identifiers>
        <balance>189000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186536.63000000</valUSD>
        <pctVal>0.021846084445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676BC8</cusip>
        <identifiers>
          <isin value="US571676BC81"/>
          <other otherDesc="Inhouse Asset ID" value="1450770"/>
        </identifiers>
        <balance>96000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94642.76000000</valUSD>
        <pctVal>0.011084009221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="Used CNY (Onshore Yuan) instead of CNH (Offshore Yuan) for all base currency isocodes." noteItem="C.11.e.i"/>
      <explntrNote note="Used CNY (Onshore Yuan) instead of CNH (Offshore Yuan) for all base currency isocodes." noteItem="C.2.b"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Putnam Asset Allocation Funds</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
