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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
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        <cusip>30303M8V7</cusip>
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        <valUSD>531525.85000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>BLACKSTONE SECURED LENDING FUND</name>
        <lei>549300KM7KWQHVBNH962</lei>
        <title>Blackstone Secured Lending Fund 5.125%, Due 01/31/2031</title>
        <cusip>09261XAL6</cusip>
        <identifiers>
          <isin value="US09261XAL64"/>
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        <balance>1388000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1329996.20000000</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>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>ELI LILLY &amp; COMPANY</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Company 5.55%, Due 10/15/2055</title>
        <cusip>532457DF2</cusip>
        <identifiers>
          <isin value="US532457DF26"/>
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        <balance>1563000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1563443.28000000</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>2055-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer, L.P. 5.35%, Due 01/15/2036</title>
        <cusip>29273VBK5</cusip>
        <identifiers>
          <isin value="US29273VBK52"/>
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        <balance>693000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>690458.30000000</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>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>NEXTERA ENERGY CAPITAL HOLDINGS INC</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc. 2.44%, Due 01/15/2032</title>
        <cusip>65339KBZ2</cusip>
        <identifiers>
          <isin value="US65339KBZ21"/>
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        <balance>644000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>568172.53000000</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>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.44000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool Pool # FS1133</title>
        <cusip>3140XGHK8</cusip>
        <identifiers>
          <isin value="US3140XGHK80"/>
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        <balance>8146400.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7700651.73000000</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>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED AIRLINES HOLDINGS INC</name>
        <lei>98450079DA0B78DD6764</lei>
        <title>United Airlines Holdings, Inc. 4.875%, Due 03/01/2029</title>
        <cusip>910047AM1</cusip>
        <identifiers>
          <isin value="US910047AM17"/>
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        <balance>561000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555830.95000000</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>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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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>ARES MANAGEMENT CORP</name>
        <lei>529900JUV61FH7B8VW38</lei>
        <title>Ares Management Corporation 6.375%, Due 11/10/2028</title>
        <cusip>03990BAA9</cusip>
        <identifiers>
          <isin value="US03990BAA98"/>
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        <balance>419000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>433646.39000000</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>2028-11-10</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>APPALACHIAN POWER RECOVERY FUNDING LLC</name>
        <lei>N/A</lei>
        <title>Appalachian Power Recovery Funding, LLC 5.836%, Due 04/01/2046</title>
        <cusip>037975AC3</cusip>
        <identifiers>
          <isin value="US037975AC33"/>
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        <balance>3987000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4077076.82000000</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>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.83600000</annualizedRt>
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      <invstOrSec>
        <name>LXP INDUSTRIAL TRUST</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>LXP Industrial Trust 2.7%, Due 09/15/2030</title>
        <cusip>529043AE1</cusip>
        <identifiers>
          <isin value="US529043AE19"/>
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        <balance>682000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621159.67000000</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>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corporation 5.502, Fixed Until 9/6/2034</title>
        <cusip>7591EPAV2</cusip>
        <identifiers>
          <isin value="US7591EPAV24"/>
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        <balance>789000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>799301.29000000</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>2035-09-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50200000</annualizedRt>
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      <invstOrSec>
        <name>CONE 2026-DFW3</name>
        <lei>N/A</lei>
        <title>CONE Commercial Mortgage Trust 2026-DFW3 Floating Rate, Due 05/15/2043</title>
        <cusip>20681AAE1</cusip>
        <identifiers>
          <isin value="US20681AAE10"/>
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        <balance>847000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>844584.53000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.50364480</annualizedRt>
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      <invstOrSec>
        <name>BANK5 2025-5YR16</name>
        <lei>N/A</lei>
        <title>BANK5 2025-5YR19 5.27%, Due 12/15/2030</title>
        <cusip>05494RBL5</cusip>
        <identifiers>
          <isin value="US05494RBL50"/>
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        <balance>2831000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2874552.10000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.27000000</annualizedRt>
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      <invstOrSec>
        <name>CARNIVAL CORP LTD</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corporation Ltd. 5.75%, Due 08/01/2032</title>
        <cusip>143658CA8</cusip>
        <identifiers>
          <isin value="US143658CA82"/>
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        <balance>601000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>607621.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>AIRCASTLE LTD / AIRCASTLE IRELAND DAC</name>
        <lei>N/A</lei>
        <title>Aircastle Ltd. / Aircastle Ireland DAC 5%, Due 09/15/2030</title>
        <cusip>00929JAC0</cusip>
        <identifiers>
          <isin value="US00929JAC09"/>
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        <balance>768000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>765219.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ANGLO AMERICAN CAPITAL PLC</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
        <title>Anglo American Capital plc 6%, Due 04/05/2054</title>
        <cusip>034863BF6</cusip>
        <identifiers>
          <isin value="US034863BF64"/>
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        <balance>890000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>891542.50000000</valUSD>
        <pctVal>0.152450437853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ATI INC</name>
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        <cusip>01741RAP7</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GS MORTGAGE SECURITIES TRUST 2020-GSA2</name>
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        <cusip>36264KAV2</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
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        <name>T-MOBILE USA INC</name>
        <lei>549300V2JRLO5DIFGE82</lei>
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        <cusip>87264ADD4</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>WILLIAMS COMPANIES INC (THE)</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>VANTAGE DATA CENTERS ISSUER LLC</name>
        <lei>N/A</lei>
        <title>Vantage Data Centers Issuer, LLC 5.239%, Due 11/15/2055</title>
        <cusip>92212KAJ5</cusip>
        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CITIZENS FINANCIAL GROUP INC</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
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        <cusip>174610BF1</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.84100000</annualizedRt>
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        <name>UNITED AIRLINES INC</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines, Inc. 4.625%, Due 04/15/2029</title>
        <cusip>90932LAH0</cusip>
        <identifiers>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>MORGAN STANLEY CAPITAL I TRUST 2016-BNK2</name>
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        <cusip>61690YBU5</cusip>
        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.04900000</annualizedRt>
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        <name>HERTZ VEHICLE FINANCING LLC</name>
        <lei>5493004IHDYOZ9K9WF47</lei>
        <title>Hertz Vehicle Financing III, LLC 5.57%, Due 09/25/2029</title>
        <cusip>42806MBW8</cusip>
        <identifiers>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.57000000</annualizedRt>
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        <name>ARES FINANCE CO III LLC</name>
        <lei>N/A</lei>
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        <cusip>04018VAA1</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CFCRE 2016-C7 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>CFCRE Commercial Mortgage Trust 2016-C7 3.839%, Due 12/10/2026</title>
        <cusip>12532BAD9</cusip>
        <identifiers>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX, L.P. 4.5%, Due 04/15/2038</title>
        <cusip>55336VAM2</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>SV RNO PROPERTY OWNER 1 LLC</name>
        <lei>N/A</lei>
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        <cusip>78488XAA2</cusip>
        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>JPMCC COMMERCIAL MORTGAGE SECURITIES TRUST 2017-JP5</name>
        <lei>N/A</lei>
        <title>JPMCC Commercial Mortgage Securities Trust 2017-JP5</title>
        <cusip>46647TAS7</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>3.72320000</annualizedRt>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>STACK INFRASTRUCTURE ISSUER LLC</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STORE CAPITAL LLC</name>
        <lei>254900Z9PIEFQ6AYXK50</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SPRINT CAPITAL CORP</name>
        <lei>549300L17W0GQBR1PO80</lei>
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        <cusip>852060AT9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CVS HEALTH CORP</name>
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        <name>Chicago Board of Trade</name>
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        <name>ARES XLIV CLO LTD</name>
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        <name>CD 2016-CD2 MORTGAGE TRUST</name>
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        <lei>254900AIZKU6TGRRNZ98</lei>
        <title>Woodside Finance Ltd. 6%, Due 05/19/2035</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FREEPORT-MCMORAN INC</name>
        <lei>549300IRDTHJQ1PVET45</lei>
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        <cusip>35671DBC8</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW HOME COMPANY INC (THE)</name>
        <lei>549300PLCE8TB3TVRQ85</lei>
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        <cusip>645370AF4</cusip>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PERMIAN RESOURCES OPERATING LLC</name>
        <lei>5493004CTVUMQLRPOE23</lei>
        <title>Permian Resources Operating, LLC 5.875%, Due 07/01/2029</title>
        <cusip>19416MAB5</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VERTIV HOLDINGS COMPANY</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>Vertiv Holdings Company 4.85%, Due 03/15/2036</title>
        <cusip>92537NAA6</cusip>
        <identifiers>
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        <valUSD>880266.71000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ARES CAPITAL CORP</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corporation 5.25%, Due 04/12/2031</title>
        <cusip>04010LBM4</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>IRON MOUNTAIN INC (REIT)</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>Iron Mountain, Inc. 6.25%, Due 01/15/2035</title>
        <cusip>46284VAR2</cusip>
        <identifiers>
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        <balance>153000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153787.63000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FINANCIAL GROUP INC</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc. 2.494%, Fixed Until 10/13/2031</title>
        <cusip>606822CB8</cusip>
        <identifiers>
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        <balance>797000.00000000</balance>
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        <valUSD>706042.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HERTZ VEHICLE FINANCING III LLC</name>
        <lei>549300MNOMKDMDFI8J66</lei>
        <title>Hertz Vehicle Financing III, LLC 5.09%, Due 11/25/2030</title>
        <cusip>42806MEF2</cusip>
        <identifiers>
          <isin value="US42806MEF23"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2004711.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLOBAL NET LEASE INC / GLOBAL NET LEASE OPERATING PARTNERSHIP LP</name>
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        <title>Global Net Lease, Inc. / Global Net Lease Operating Partnership, L.P.</title>
        <cusip>37892AAA8</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FOUNDRY JV HOLDCO LLC</name>
        <lei>21380048QROAMGM6EP30</lei>
        <title>Foundry JV Holdco, LLC 6.3%, Due 01/25/2039</title>
        <cusip>350930AK9</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp 4.337%, Due 04/25/2033</title>
        <cusip>316773DF4</cusip>
        <identifiers>
          <isin value="US316773DF47"/>
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        <curCd>USD</curCd>
        <valUSD>1031308.79000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FIRST EAGLE HOLDINGS INC</name>
        <lei>549300ZKYR56QRODD510</lei>
        <title>First Eagle Holdings, Inc. 7.25%, Due 08/15/2032</title>
        <cusip>32010YAA4</cusip>
        <identifiers>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.25000000</annualizedRt>
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        <name>GA GLOBAL FUNDING TRUST</name>
        <lei>54930029I8ROQ4OROZ88</lei>
        <title>GA Global Funding Trust 5.5%, Due 01/08/2029</title>
        <cusip>36143L2L8</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>APOLLO DEBT SOLUTIONS BDC</name>
        <lei>549300UMUGX092P8DW87</lei>
        <title>Apollo Debt Solutions BDC 6.9%, Due 04/13/2029</title>
        <cusip>03770DAB9</cusip>
        <identifiers>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.90000000</annualizedRt>
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        <name>BMO 2023-5C1 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>BMO 2023-5C1 Mortgage Trust Floating Rate, Due 08/15/2056</title>
        <cusip>055986AF0</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
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          <maturityDt>2056-08-15</maturityDt>
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          <annualizedRt>7.35453360</annualizedRt>
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        <name>STONEBRIAR ABF ISSUER LLC</name>
        <lei>N/A</lei>
        <title>Stonebriar A.B.F Issuer, LLC 8.125%, Due 12/15/2030</title>
        <cusip>86177CAA7</cusip>
        <identifiers>
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        <balance>721000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>754343.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>Freddie Mac Pool Pool # SD3282</title>
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        <name>BANK5 2023-5YR4</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK5 2023-5YR1</name>
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        <name>GLENCORE FUNDING LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HESS MIDSTREAM OPERATIONS LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CONE 2026-DFW3</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NCL CORP LTD</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
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        <cusip>62886HBR1</cusip>
        <identifiers>
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        <invCountry>BM</invCountry>
        
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        <fairValLevel>2</fairValLevel>
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        <name>OVINTIV INC</name>
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        <cusip>69047QAC6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK5 2024-5YR9</name>
        <lei>N/A</lei>
        <title>BANK5 2024-5YR9 Floating Rate, Due 08/15/2057</title>
        <cusip>06644VBM1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS PRIVATE CREDIT CORP</name>
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        <cusip>38152BAH4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>EVERSOURCE ENERGY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEUBERGER BERMAN LOAN ADVISERS CLO 41 LTD</name>
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        <cusip>64134BAJ9</cusip>
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        <name>BARINGS EQUIPMENT FINANCE LLC 2025-A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BAXTER INTERNATIONAL INC</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
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        <cusip>071813CS6</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK (NY), CITY OF</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO MITSUI FINANCIAL GROUP INC</name>
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        <invCountry>JP</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>NEVADA POWER COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>VSP OPTICAL GROUP INC</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>VENTURE GLOBAL PLAQUEMINES LNG LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Fannie Mae Pool Pool # FS9801</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>FIRSTENERGY TRANSMISSION LLC</name>
        <lei>549300AINIIPOLYX2R63</lei>
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        <cusip>33767BAK5</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>TORONTO DOMINION BANK (THE)</name>
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        <invCountry>CA</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>DELL INTERNATIONAL LLC / EMC CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CORE SCIENTIFIC FINANCE I LLC</name>
        <lei>N/A</lei>
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        <cusip>21874LAA0</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIANA MICHIGAN POWER COMPANY</name>
        <lei>JHR9V15J0ZRG02MIRD06</lei>
        <title>Indiana Michigan Power Company 4.55%, Due 03/15/2046</title>
        <cusip>454889AQ9</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>APA CORP</name>
        <lei>549300VCIWLRHYVSHC79</lei>
        <title>APA Corporation 6.75%, Due 02/15/2055</title>
        <cusip>03743QAT5</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <name>Onemain Direct Auto Receivables Trust 2017-1</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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        <name>FORTRESS CREDIT BSL XXI LTD</name>
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        <name>PR RNO PROPERTY OWNER 1 LLC</name>
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        <name>HUT 8 DC LLC</name>
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        <name>BENCHMARK 2023-V3 MORTGAGE TRUST</name>
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        <name>JEFFERIES FINANCIAL GROUP INC</name>
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        <cusip>47233WLL1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <cusip>95000YAY1</cusip>
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        <name>DTE ELECTRIC COMPANY</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
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        <cusip>23338VAY2</cusip>
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        <name>AMERICAN NATIONAL GROUP INC</name>
        <lei>549300RK5RZQ740FPL83</lei>
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        <name>MVW 2024-2 LLC</name>
        <lei>N/A</lei>
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        <cusip>55389QAA5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BENCHMARK 2024-V5 MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK5 2024-5YR6</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VANTAGE DATA CENTERS ISSUER LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>STONEPEAK NILE PARENT LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BMO 2023-5C1 MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BENCHMARK 2024-V7 MORTGAGE TRUST</name>
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        <cusip>08163YAC5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CARVAL CLO XI-C LTD</name>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN TOWER TRUST I</name>
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        <cusip>03027WAK8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>BENCHMARK 2025-V19 MORTGAGE TRUST</name>
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        <cusip>08164DAB2</cusip>
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        <title>Ginnie Mae I Pool Pool # 711067</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BENCHMARK 2023-V2 MORTGAGE TRUST</name>
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        <cusip>08163TAD4</cusip>
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        <name>BENCHMARK 2024-V6 MORTGAGE TRUST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CONE 2026-DFW3</name>
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        <name>LCM 33 LTD</name>
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        <name>CRH AMERICA FINANCE INC</name>
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        <name>KEYSPAN GAS EAST CORP</name>
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        <name>BMO 2025-C13 MORTGAGE TRUST</name>
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        <name>EXTRA SPACE STORAGE LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note 4%, Due 04/30/2032</title>
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        <name>Federal National Mortgage Association</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BAE SYSTEMS PLC</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MICROCHIP TECHNOLOGY INC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>United States Treasury Bond 1.375%, Due 08/15/2050</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APLD COMPUTECO LLC</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US00202DAA54"/>
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        <balance>2738000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2955272.24000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>AMAZON.COM INC</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <cusip>023135CA2</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>EDGED COMPUTE LLC</name>
        <lei>N/A</lei>
        <title>Edged Compute, LLC 7.5%, Due 04/30/2031</title>
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        <identifiers>
          <isin value="US28002AAA43"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>QTS FAYETTEVILLE I DC1-2 LLC / QTS TRS FAYETTEVILLE I DCI-2 LLC</name>
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        <cusip>74751AAA1</cusip>
        <identifiers>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BENCHMARK 2024-V7 MORTGAGE TRUST</name>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
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        <name>VENTURE GLOBAL LNG INC</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc. 6.625%, Due 06/15/2036</title>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>KRAFT HEINZ FOODS COMPANY</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>Kraft Heinz Foods Company 5%, Due 06/04/2042</title>
        <cusip>50076QAE6</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GOLUB CAPITAL PRIVATE CREDIT FUND</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>CBOT US Treasure Bond Futures 2026-09-21</title>
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        <name>REYNOLDS AMERICAN INC</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
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        <cusip>761713BB1</cusip>
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          <isLoanByFund>N</isLoanByFund>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley 2.511 ,Fixed until 10/20/2031</title>
        <cusip>61747YEH4</cusip>
        <identifiers>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2023-V2 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>Benchmark 2023-V2 Mortgage Trust Floating Rate, Due 05/15/2055</title>
        <cusip>08163TAC6</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool Pool # SD3354</title>
        <cusip>3132DQWP7</cusip>
        <identifiers>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS 4%, Due 10/25/2044</title>
        <cusip>3136ALFG1</cusip>
        <identifiers>
          <isin value="US3136ALFG19"/>
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        <balance>227288.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216052.96000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCMS MORTGAGE TRUST 2024-5C25</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust 2024-5C25 5.946%, Due 03/15/2057</title>
        <cusip>05554VAB6</cusip>
        <identifiers>
          <isin value="US05554VAB62"/>
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        <balance>2467000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2524396.48000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.94600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corporation 5.744%, Fixed unitl 02/12/2035</title>
        <cusip>06051GMQ9</cusip>
        <identifiers>
          <isin value="US06051GMQ90"/>
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        <balance>1268000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1294213.38000000</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>2036-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.74400000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY CAPITAL I TRUST 2018-H3</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust 2018-H3 4.177%, Due 07/15/2051</title>
        <cusip>61767YAZ3</cusip>
        <identifiers>
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        <balance>1483000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1463499.44000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.17700000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICS 4%, Due 09/15/2042</title>
        <cusip>3137ATUJ9</cusip>
        <identifiers>
          <isin value="US3137ATUJ91"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1335535.88000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corporation 5.288%, Fixed until 04/25/2033</title>
        <cusip>06051GLH0</cusip>
        <identifiers>
          <isin value="US06051GLH01"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60816.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.28800000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSTELLATION INSURANCE INC</name>
        <lei>549300K609B872PZT291</lei>
        <title>Constellation Insurance, Inc. 5.55%, Due 01/24/2030</title>
        <cusip>67740QAH9</cusip>
        <identifiers>
          <isin value="US67740QAH92"/>
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        <balance>460000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>460845.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.80000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2024-V9 MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>Benchmark 2024-V9 Mortgage Trust Floating Rate, Due 08/15/2057</title>
        <cusip>081919AS1</cusip>
        <identifiers>
          <isin value="US081919AS16"/>
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        <balance>916000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>935120.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>N/A</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.06412080</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2025-5C6</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2025-5C6 5.186%, Due 10/15/2058</title>
        <cusip>95004TAC6</cusip>
        <identifiers>
          <isin value="US95004TAC62"/>
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        <balance>2597000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2618247.87000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.18600000</annualizedRt>
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    <signature>
      <ncom:dateSigned>2026-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Capitol Series Trust</ncom:nameOfApplicant>
      <ncom:signature>Zachary Richmond</ncom:signature>
      <ncom:signerName>Zachary Richmond</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
