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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Amdocs Capital Solutions Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Home Mortgage Assets</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Municipal Power Inc</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AMETEK Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMRESCO Residential Securities Mtg Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arbor Realty Collateralized Loan Obligation Ltd</name>
        <lei>N/A</lei>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Argent Securities Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Argentina Republic Government International Bonds</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Argentina Republic Government International Bonds</title>
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        <invCountry>AR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <title>Argentina Republic Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300KPBYGYF7HCHO27</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ARES CLO Ltd</name>
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        <title>ARES XLIV CLO Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Asset Backed Securities Corp Home Equity Ln Trst</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Atlas Senior Loan Fund LTD</name>
        <lei>213800YL4OYYQS6XD442</lei>
        <title>Atlas Senior Loan Fund XVIII Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banc of America Merrill Lynch Large Loan Inc</name>
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        <title>BAMLL Commercial Mortgage Securities Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BCAP LLC Trust</name>
        <lei>N/A</lei>
        <title>BCAP LLC Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Countrywide Home Loans</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Suisse Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Countrywide Alternative Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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        <curCd>USD</curCd>
        <valUSD>441246.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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        <curCd>USD</curCd>
        <valUSD>37738.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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          <isin value="US12667GL840"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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        <curCd>USD</curCd>
        <valUSD>47394.09000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
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        <title>Countrywide Asset-Backed Certificates Trust</title>
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          <isin value="US12667HAE18"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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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>Countrywide Asset-Backed Certificates</name>
        <lei>549300H6I2066O1LC673</lei>
        <title>Countrywide Asset-Backed Certificates Trust</title>
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          <isin value="US12667LAA08"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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          <isin value="US12668AGT60"/>
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        <curCd>USD</curCd>
        <valUSD>79671.76000000</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>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
        <cusip>12668AJK2</cusip>
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          <isin value="US12668AJK25"/>
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        <curCd>USD</curCd>
        <valUSD>1417704.29000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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          <isin value="US12668BBN29"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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          <isin value="US12668BD911"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
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        <title>Countrywide Asset-Backed Certificates Trust</title>
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          <isin value="US12668NAA54"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Countrywide Asset-Backed Certificates</name>
        <lei>549300H6I2066O1LC673</lei>
        <title>Countrywide Asset-Backed Certificates Trust</title>
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          <isin value="US12668WAF41"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
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          <isin value="US1266943Y20"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
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          <isin value="US126694D216"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
        <cusip>126694R75</cusip>
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          <isin value="US126694R752"/>
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        <curCd>USD</curCd>
        <valUSD>256314.56000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Campbell's Company/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Carlyle Global Market Strategies</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Countrywide Asset-Backed Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <name>Goldman Sachs Bank USA</name>
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      <invstOrSec>
        <name>Banco Santander SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Bank PLC</name>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo Bank NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>HSBC Bank PLC</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>Standard Chartered Bank</name>
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      <invstOrSec>
        <name>Morgan Stanley &amp; Co. International PLC</name>
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      <invstOrSec>
        <name>State Street Bank &amp; Trust Co.</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>Purchased JPY / Sold USD</title>
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        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
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        <name>BNP Paribas SA</name>
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        <name>HSBC Bank PLC</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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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ABU DHABI GOVT INT'L</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge US Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge US Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Entergy Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Entergy Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <name>Freddie Mac</name>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>First Abu Dhabi Bank PJSC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>First Franklin Mtg Loan Asset Backed Certificates</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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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GSR Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>IndyMac Residential Asset Backed Trust</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Homebanc Mortgage Trust</name>
        <lei>N/A</lei>
        <title>HomeBanc Mortgage Trust</title>
        <cusip>43739ECR6</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>HUNGARY</name>
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          <isin value="US445545AU03"/>
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        <curCd>USD</curCd>
        <valUSD>5831507.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>ICG US CLO Ltd</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
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        <title>Residential Asset Securitization Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Trust</name>
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        <title>IndyMac INDX Mortgage Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <title>IndyMac INDX Mortgage Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>IndyMac INDB Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>IndyMac INDA Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IndyMac INDX Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IndyMac INDX Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IndyMac IMSC Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>KBC GROUP NV</name>
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        <name>KKR Financial CLO Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ITALY GOV'T INT BOND</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>MDGH GMTN RSC LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Asset Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Manhattan West</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Marble Point CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KINGDOM OF SPAIN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Adjustable Rate Mortgages Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTR Alternative Loans Trust</name>
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        <title>MASTR Alternative Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Structured Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Capital I Trust</name>
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        <title>Morgan Stanley Capital I Trust</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-15</maturityDt>
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      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust</name>
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        <title>Morgan Stanley Residential Mortgage Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MOUNTAIN VIEW CLO</name>
        <lei>549300IB1UGD5G8HYT10</lei>
        <title>Mountain View CLO XIV Ltd.</title>
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          <isin value="US62432MAN92"/>
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        <balance>9800000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-15</maturityDt>
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      <invstOrSec>
        <name>NTT FINANCE CORP</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>NTT FINANCE CORP</name>
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        <title>NTT Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>NTT FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NTT FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
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      <invstOrSec>
        <name>New York Mortgage Trust</name>
        <lei>2549009GL7U73W4FX613</lei>
        <title>NYMT Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>National Bank of Kuwait/New York NY</name>
        <lei>549300NB7FE83IH6BW96</lei>
        <title>National Bank of Kuwait</title>
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        <assetCat>STIV</assetCat>
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        <invCountry>KW</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NATIONWIDE BLDG SOCIETY</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Navesink CLO, Limited</name>
        <lei>254900KT4N5U5O7X0820</lei>
        <title>Navesink CLO 6 Ltd.</title>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300N83MM16HCONB28</lei>
        <title>Neuberger Berman Loan Advisers CLO 43Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Neuberger Berman CLO Ltd</name>
        <lei>549300BQ0WQMX5H5TS32</lei>
        <title>Neuberger Berman Loan Advisers CLO 45Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Century Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>New Century Home Equity Loan Trust</title>
        <cusip>64352VDK4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>PACIFIC GAS &amp; ELECTRIC</name>
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          <isin value="US694308JQ18"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PANAMA INFRASTRUCTURE</name>
        <lei>213800QSH7EDGMUDJW25</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Penske Truck Leasing Co LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF PERU</name>
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        <title>Peru Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PIMCO PRV SHORT TERM FLT III</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PIMCO SHORT ASSET PORTFOLIO</name>
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        <title>PIMCO Short Asset Portfolio</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Republic of Poland Government International Bonds</name>
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        <title>Republic of Poland Government International Bonds</title>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>QATAR ENERGY</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>RD MICHIGAN PROP OWNER I</name>
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        <name>Residential Accredit Loans, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Residential Asset Mortgage Products, INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Residential Asset Securitization Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Riserva CLO, Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rogers Communications Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rogers Communications Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SAUDI ARABIAN OIL CO</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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          <isin value="US81379EAA01"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300XC4C7GRVLU6076</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SMB Private Education Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>Sound Point CLO LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Structured Asset Securities Corporation</name>
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          <isin value="US863911AA15"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINL GRP</name>
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        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUMITOMO MITSUI TR BK LT</name>
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        <title>Sumitomo Mitsui Trust Bank Ltd.</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Sycamore Tree CLO Ltd</name>
        <lei>5493000NGQSA68NFD567</lei>
        <title>Sycamore Tree CLO Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Symphony CLO Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Symphony CLO Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Symphony CLO Ltd</name>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tampa Electric Co</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELUS Corp</name>
        <lei>894500TX134IMF6NW757</lei>
        <title>TELUS Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TELUS Corp</name>
        <lei>894500TX134IMF6NW757</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Texas Natural Gas Securitization Finance Corp</name>
        <lei>N/A</lei>
        <title>Texas Natural Gas Securitization Finance Corp.</title>
        <cusip>88258MAA3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
        <cusip>885220EB5</cusip>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
        <cusip>88522EAC7</cusip>
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        <curCd>USD</curCd>
        <valUSD>168423.60000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
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        <curCd>USD</curCd>
        <valUSD>138029.58000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
        <cusip>88522WAB9</cusip>
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          <isin value="US88522WAB90"/>
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        <curCd>USD</curCd>
        <valUSD>2436676.09000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
        <cusip>88522WAD5</cusip>
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          <isin value="US88522WAD56"/>
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        <balance>1206032.93000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1050604.23000000</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>
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          <couponKind>Floating</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
        <cusip>88522XAC5</cusip>
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          <isin value="US88522XAC56"/>
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        <balance>128794.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127087.39000000</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>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Thornburg Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Thornburg Mortgage Securities Trust</title>
        <cusip>88522XAE1</cusip>
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          <isin value="US88522XAE13"/>
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        <balance>156736.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136865.45000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tikehau US CLO Ltd</name>
        <lei>254900EJZB0M481N4R06</lei>
        <title>Tikehau U.S. CLO I Ltd.</title>
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          <isin value="US88675SAL16"/>
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        <balance>11800000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.77000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89176UAN4</cusip>
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          <isin value="US89176UAN46"/>
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        <balance>10425696.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9510302.79000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.64000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89177HAA0</cusip>
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          <isin value="US89177HAA05"/>
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        <balance>2057951.26000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2095079.99000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.76000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89178BAA2</cusip>
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          <isin value="US89178BAA26"/>
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        <balance>29302356.19000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89178WAU2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89183GAA4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TR Finance LLC</name>
        <lei>254900OWSTRTOV8P5W25</lei>
        <title>TR Finance LLC</title>
        <cusip>89239EG82</cusip>
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        <balance>4050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4046476.50000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trinitas CLO Ltd</name>
        <lei>5493007IXHTJ7TQMIW41</lei>
        <title>Trinitas CLO XX Ltd.</title>
        <cusip>89640EAN8</cusip>
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          <isin value="US89640EAN85"/>
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        <balance>1700000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-20</maturityDt>
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      <invstOrSec>
        <name>Trinitas CLO Ltd</name>
        <lei>549300F3XEPDOX3FOP69</lei>
        <title>Trinitas CLO VII Ltd.</title>
        <cusip>89641CAU5</cusip>
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          <isin value="US89641CAU53"/>
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        <balance>3600000.00000000</balance>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.73000000</annualizedRt>
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      <invstOrSec>
        <name>Trinitas CLO Ltd</name>
        <lei>5493007IXHTJ7TQMIW41</lei>
        <title>Trinitas CLO XIX Ltd.</title>
        <cusip>89642FAN3</cusip>
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          <isin value="US89642FAN33"/>
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        <balance>7107079.55000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7111981.73000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.79000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Triton Container International Ltd / TAL International Container Corp</name>
        <lei>N/A</lei>
        <title>Triton Container International Ltd./TAL International Container Corp.</title>
        <cusip>89679YG28</cusip>
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          <isin value="US89679YG283"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399908.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>RMAC Securities PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Newgate Funding PLC</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>EuroMASTR PLC</name>
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          <isin value="XS0305763061"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORDEA KREDIT REALKREDIT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
        <lei>378900AAFB4F17004C49</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
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        <cusip>000000000</cusip>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>INTER-AMERICAN DEVEL BK</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
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        <invCountry>XX</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>U.K. Gilts</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TREASURY CORP VICTORIA</name>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JYSKE REALKREDIT A/S</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NYKREDIT REALKREDIT A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOGICOR FINANCING SARL</name>
        <lei>254900IS16Q1A2TQFN22</lei>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROMANIA</name>
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          <isin value="XS2027596530"/>
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        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Zealand Government Bonds</name>
        <lei>549300237GPHG2AI7C34</lei>
        <title>New Zealand Government Bonds</title>
        <cusip>000000000</cusip>
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        <invCountry>NZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BANCA MONTE DEI PASCHI S</name>
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        <title>Banca Monte dei Paschi di Siena SpA</title>
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          <isin value="IT0005386922"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>BNPP AM Euro CLO</name>
        <lei>635400WQJ1JJCSE3HW15</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS2060921223"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
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      <invstOrSec>
        <name>Cairn CLO BV</name>
        <lei>549300TJNM6WMNNV4384</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2066880928"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>QUEENSLAND TREASURY CORP</name>
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        <title>Queensland Treasury Corp.</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW S WALES TREASURY CRP</name>
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        <title>New South Wales Treasury Corp.</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>KOREA TREASURY BOND</name>
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        <title>Korea Treasury Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Saudi Government International Bonds</name>
        <lei>635400FMICXSM3SI3H65</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NYKREDIT REALKREDIT A/S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NYKREDIT REALKREDIT A/S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NYKREDIT REALKREDIT A/S</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NYKREDIT REALKREDIT A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bonds</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY CORP VICTORIA</name>
        <lei>549300ZJM7BQW1P9UV75</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-20</maturityDt>
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      <invstOrSec>
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        <lei>549300ZJM7BQW1P9UV75</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-10</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="MYBMO2000028"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2258827034"/>
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        <balance>4300000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-12</maturityDt>
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      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2262853265"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>SA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-24</maturityDt>
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      <invstOrSec>
        <name>QUEENSLAND TREASURY CORP</name>
        <lei>98INKCEEHOU5YJS0HQ88</lei>
        <title>Queensland Treasury Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU3SG0002439"/>
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        <balance>167400000.00000000</balance>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>JYSKE REALKREDIT A/S</name>
        <lei>529900R9HQNZRT2OXB26</lei>
        <title>Jyske Realkredit AS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0009403727"/>
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        <balance>1.43000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>REALKREDIT DANMARK</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark AS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0004619384"/>
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        <balance>1.11000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JYSKE REALKREDIT A/S</name>
        <lei>529900R9HQNZRT2OXB26</lei>
        <title>Jyske Realkredit AS</title>
        <cusip>000000000</cusip>
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          <isin value="DK0009403644"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Penta CLO S.A.</name>
        <lei>549300FTCSBBS0J25486</lei>
        <title>Penta CLO 9 DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2344757203"/>
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        <balance>8400000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BlackRock European CLO DAC</name>
        <lei>635400I5HNBLHUNUTO41</lei>
        <title>BlackRock European CLO III DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2348330064"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
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          <isin value="XS2364199674"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW S WALES TREASURY CRP</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
        <title>New South Wales Treasury Corp.</title>
        <cusip>000000000</cusip>
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          <isin value="AU3SG0002553"/>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-20</maturityDt>
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        <name>SOUTHERN CO</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co.</title>
        <cusip>000000000</cusip>
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          <isin value="XS2387675395"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carlyle Euro CLO</name>
        <lei>635400GXUD5SKWFXE966</lei>
        <title>Carlyle Euro CLO DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2391834251"/>
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        <balance>17000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>U.K. Gilts</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Gilts</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BM8Z2V59"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="CND10004NCM5"/>
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        <balance>707500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>St Pauls CLO</name>
        <lei>549300HFD82A7GIR1V82</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS2402448703"/>
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        <balance>8000000.00000000</balance>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="JP1300731N17"/>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-20</maturityDt>
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          <annualizedRt>0.70000000</annualizedRt>
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      <invstOrSec>
        <name>KOMMUNALBANKEN AS</name>
        <lei>I7ETN0QQO2AHZZGHJ389</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU3CB0285849"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="MYBMO2200016"/>
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        <balance>23340000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.58000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="COL17CT03813"/>
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        <balance>18924000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="XS2434895475"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.13000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MALAYSIA INVESTMNT ISSUE</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Investment Issue</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYBGO2200018"/>
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        <balance>137260000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.19000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP1300741N49"/>
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        <balance>2860000000.00000000</balance>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2492482828"/>
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        <balance>10100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.88000000</annualizedRt>
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      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP1300751N79"/>
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        <balance>1760000000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>1.30000000</annualizedRt>
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        <name>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2529511722"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-27</maturityDt>
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          <annualizedRt>8.50000000</annualizedRt>
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        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="XS2538442562"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ROMANIA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="JP1201821NA5"/>
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        <balance>9710000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Ares Euro CLO</name>
        <lei>635400DAM4WNTZ8KHK11</lei>
        <title>ARES European CLO XV DAC</title>
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          <isin value="XS2409272098"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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        <title>Italy Buoni Poliennali Del Tesoro</title>
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          <isin value="IT0005521981"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
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          <isin value="COL17CT03862"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bonds</title>
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          <isin value="CND100069PK9"/>
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        <fairValLevel>2</fairValLevel>
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        <name>French Republic Government Bonds OAT</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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          <isin value="FR001400HI98"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MALAYSIA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHINA DEVELOPMENT BANK</name>
        <lei>300300C1020111000029</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ROMANIA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dryden Euro CLO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="ES0000012M51"/>
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        <fairValLevel>2</fairValLevel>
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        <name>QUEENSLAND TREASURY CORP</name>
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        <title>Queensland Treasury Corp.</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>NEW S WALES TREASURY CRP</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
        <title>New South Wales Treasury Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Gaci First Investment Co.</name>
        <lei>558600TU1PWGNLZ3XM88</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>U.K. Gilts</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CHINA DEVELOPMENT BANK</name>
        <lei>300300C1020111000029</lei>
        <title>China Development Bank</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EXPORT DEVELOPMNT CANADA</name>
        <lei>Z6MHCSLXHKYG4B6PHW02</lei>
        <title>Export Development Canada</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW S WALES TREASURY CRP</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
        <title>New South Wales Treasury Corp.</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Stratton Mortgage Funding PLC</name>
        <lei>635400BEV82LZKPTAB28</lei>
        <title>Stratton Mortgage Funding PLC</title>
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          <isin value="XS2777475372"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>000000000</cusip>
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          <isin value="XS2790333889"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Towd Point Mortgage Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>French Republic Government Bonds OAT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arbour CLO</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Forty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Invesco Euro CLO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Five Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
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        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
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          <isin value="XS2908644615"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ares Euro CLO</name>
        <lei>635400CPKWIBFGMQTE81</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS2920478356"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-21</maturityDt>
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      <invstOrSec>
        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="JP1201901QA8"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-20</maturityDt>
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          <annualizedRt>1.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hayfin Emerald CLO</name>
        <lei>549300FO5F55WI5RCR50</lei>
        <title>Hayfin Emerald CLO V DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2904562746"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-17</maturityDt>
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      <invstOrSec>
        <name>Indigo Credit Management</name>
        <lei>635400ZBUBZKOZYRMX14</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS2916992865"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-15</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mortimer BTL Plc</name>
        <lei>213800F12CZ391USLI51</lei>
        <title>Mortimer PLC</title>
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          <isin value="XS2920412330"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2067-09-22</maturityDt>
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          <annualizedRt>4.58000000</annualizedRt>
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      <invstOrSec>
        <name>Palmer Square European Loan Funding</name>
        <lei>54930004WJL9ZPQZOM50</lei>
        <title>Palmer Square European Loan Funding DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2934650610"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AUST CAPITAL TERRITORY</name>
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        <title>Australian Capital Territory</title>
        <cusip>000000000</cusip>
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          <isin value="AU3SG0003106"/>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THAILAND GOVERNMENT BOND</name>
        <lei>254900PHJ6MSKT6C7026</lei>
        <title>Thailand Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="TH0623B3K608"/>
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        <balance>4541096000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hayfin Emerald CLO</name>
        <lei>635400DTCNEUJDSEHR95</lei>
        <title>Hayfin Emerald CLO XIV DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2962031659"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-22</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="ES0000012O59"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="JP1300851R17"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-20</maturityDt>
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          <annualizedRt>2.30000000</annualizedRt>
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        <name>CHINA GOVERNMENT BOND</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="CND10008RFM0"/>
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        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>EXPORT DEVELOPMNT CANADA</name>
        <lei>Z6MHCSLXHKYG4B6PHW02</lei>
        <title>Export Development Canada</title>
        <cusip>000000000</cusip>
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          <isin value="XS2987626509"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>000000000</cusip>
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          <isin value="XS2987772402"/>
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        <balance>3400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gaci First Investment Co.</name>
        <lei>558600TU1PWGNLZ3XM88</lei>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LETRA TESOURO NACIONAL</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Brazil Letras do Tesouro Nacional</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROMANIA</name>
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        <cusip>000000000</cusip>
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          <isin value="XS2999546687"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palmer Square European Loan Funding</name>
        <lei>254900YQGLL0XDHT7334</lei>
        <title>Palmer Square European Loan Funding DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2999623775"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KFW</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>Kreditanstalt fuer Wiederaufbau</title>
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          <isin value="XS3006160033"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elstree Funding</name>
        <lei>635400ICHKPTSOTNHH75</lei>
        <title>Elstree 1st PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS2988690470"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-01-21</maturityDt>
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        <name>TREASURY CORP VICTORIA</name>
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        <title>Treasury Corp. of Victoria</title>
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          <isin value="AU3SG0003163"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAUDI INTERNATIONAL BOND</name>
        <lei>635400FMICXSM3SI3H65</lei>
        <title>Saudi Government International Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="XS3015245957"/>
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        <invCountry>SA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>EUROPEAN UNION</name>
        <lei>529900FZRK8FGMPEOM08</lei>
        <title>European Union</title>
        <cusip>000000000</cusip>
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          <isin value="EU000A4D8KD2"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CVC Cordatus Opportunity Loan Fund DAC</name>
        <lei>635400C8SJP8XE4FXA57</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Invesco Euro CLO</name>
        <lei>5493004UWK07M4U35L23</lei>
        <title>Invesco Euro CLO V DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3036677501"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ozlme</name>
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          <isin value="XS3047412369"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>French Republic Government Bonds OAT</name>
        <lei>969500KCGF3SUYJHPV70</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
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        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Braccan Mortgage Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Palmer Square European Loan Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EUROPEAN UNION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>U.K. Gilts</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Spain Government Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bletchley Park Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carlyle Global Market Strategies Euro</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PHILIP MORRIS INTL INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BONOS DE TESORERIA</name>
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        <title>Peru Government Bonds</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Trinitas Euro CLO</name>
        <lei>635400ENNWRNGMMBII74</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Arcano Euro CLO</name>
        <lei>635400HGPOTPFZDKOF20</lei>
        <title>Arcano Euro CLO II DAC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Polaris</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OCP Euro CLO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tikehau</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BULGARIA</name>
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        <title>Bulgaria Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BULGARIA</name>
        <lei>529900PG0XCL4LICL838</lei>
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        <invCountry>BG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OCP Euro CLO</name>
        <lei>635400NSID6FARUW3W95</lei>
        <title>OCP Euro CLO DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3127992785"/>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.47000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
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          <isin value="COL17CT04084"/>
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        <balance>345196300000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
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          <isin value="COL17CT04076"/>
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        <balance>5924800000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Dryden Leveraged Loan CDO</name>
        <lei>635400BB1FXUIKRSHD56</lei>
        <title>Dryden Euro CLO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3144968255"/>
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        <balance>8300000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-18</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Contego CLO DAC</name>
        <lei>724500XA96HF0GU8WL83</lei>
        <title>Contego CLO III BV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3144694455"/>
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        <balance>17200000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Aldbrook Mortgage Transaction</name>
        <lei>635400H4MA1AX9TNGB89</lei>
        <title>Aldbrook Mortgage Transaction PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3059571516"/>
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        <balance>3667367.07000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
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        <pctVal>0.023948350531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-12-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital Four CLO</name>
        <lei>254900PXJCJG50SO9P20</lei>
        <title>Capital Four CLO X DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3140140818"/>
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        <balance>9100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.42000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NGO4E0707265"/>
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        <balance>674200000.00000000</balance>
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        <currencyConditional curCd="NGN" exchangeRt="1380.21500000"/>
        <valUSD>487869.38000000</valUSD>
        <pctVal>0.002400427618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-07</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bain Capital Euro CLO</name>
        <lei>549300GS1G9C1PHTFP28</lei>
        <title>Bain Capital Euro CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3152565340"/>
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        <balance>22400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <pctVal>0.126072930591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.44000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKFORD TOWER EUROPE CLO</name>
        <lei>635400J1BXSISHD5XN53</lei>
        <title>Rockford Tower Europe CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3147501103"/>
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        <balance>10000000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <pctVal>0.056283727638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-29</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.49000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KOREA HOUSING FINANCE CO</name>
        <lei>9884002AAOBT56QW9B80</lei>
        <title>Korea Housing Finance Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3149806971"/>
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        <balance>28100000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <pctVal>0.156553791457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.77000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KONA SPC LTD</name>
        <lei>254900UKS4SVVOMZWX26</lei>
        <title>Kona Spc Ltd.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3135157884"/>
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        <balance>6700000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.72000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QUEENSLAND TREASURY CORP</name>
        <lei>98INKCEEHOU5YJS0HQ88</lei>
        <title>Queensland Treasury Corp.</title>
        <cusip>000000000</cusip>
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          <isin value="AU3SG0003254"/>
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        <balance>76600000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44435600"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>U.K. Gilts</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Gilts</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BTXS1K06"/>
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        <balance>18400000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Palmer Square European Loan Funding</name>
        <lei>254900VGFCQBASWATQ78</lei>
        <title>Palmer Square European Loan Funding DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3181981799"/>
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        <balance>1018219.21000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.13000000</annualizedRt>
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      <invstOrSec>
        <name>EGYPT TREASURY BILL</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Treasury Bills</title>
        <cusip>000000000</cusip>
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          <isin value="EGT9980F9Q17"/>
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        <balance>10700000.00000000</balance>
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        <currencyConditional curCd="EGP" exchangeRt="49.13000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Together Asset Backed Securitisation</name>
        <lei>213800ATT519H28VFU67</lei>
        <title>Together Asset-Backed Securitisation 14 PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3174366966"/>
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        <balance>5672163.20000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.49000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kinbane DAC</name>
        <lei>635400WTRFYG7SVTRF15</lei>
        <title>Kinbane 2 DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3177967810"/>
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        <balance>12228608.10000000</balance>
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        <pctVal>0.068868495720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Elstree Funding</name>
        <lei>2138008Y99GI8Q29TP62</lei>
        <title>Elstree 1st PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3184971094"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP1300881RA0"/>
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        <balance>4850000000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Providus CLO</name>
        <lei>6354008C72YCMAEWD258</lei>
        <title>Providus CLO V DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3196134475"/>
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        <balance>12200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
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      <invstOrSec>
        <name>EGYPT TREASURY BILL</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Treasury Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGT9980DAQ19"/>
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        <balance>79800000.00000000</balance>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-13</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>U.K. Gilts</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Gilts</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BVP99897"/>
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        <balance>40100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Barings Euro CLO</name>
        <lei>5493007R4SFFXIAHHB67</lei>
        <title>Barings Euro CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3201274910"/>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-21</maturityDt>
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          <annualizedRt>3.44000000</annualizedRt>
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      <invstOrSec>
        <name>EGYPT TREASURY BILL</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Treasury Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGT9980KAQ10"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-20</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>Polaris</name>
        <lei>2138004HHDTEKA2ZLF42</lei>
        <title>Polaris PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3216526205"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-10-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>Cairn CLO BV</name>
        <lei>54930036FO0EWQ03QK50</lei>
        <title>Cairn CLO XI DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3201084202"/>
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        <balance>8300000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.43000000</annualizedRt>
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      <invstOrSec>
        <name>FOXCONN FAR EAST LTD</name>
        <lei>254900NAQSPFDWVY8H73</lei>
        <title>Foxconn Far East Ltd.</title>
        <cusip>000000000</cusip>
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          <isin value="XS2379464568"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.88000000</annualizedRt>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3215634570"/>
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        <balance>15000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="XS3215634810"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="XS3215634901"/>
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        <fairValLevel>2</fairValLevel>
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        <name>EGYPT GOVERNMENT BOND</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Government Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="EGBGR06541F9"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Braccan Mortgage Funding</name>
        <lei>213800WUDDAGMT94UJ09</lei>
        <title>Braccan Mortgage Funding PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3217600157"/>
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        <balance>25000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2068-01-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.61000000</annualizedRt>
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      <invstOrSec>
        <name>Cordatus CLO PLC</name>
        <lei>5493000M05JNL8RFAD47</lei>
        <title>CVC Cordatus Loan Fund XXX DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3230493515"/>
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        <balance>4600000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.53000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Harvest CLO</name>
        <lei>635400HU8ASOJYEX2I14</lei>
        <title>Harvest CLO XVI DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3233921025"/>
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        <balance>14900000.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REALKREDIT DANMARK</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAYFRONT IABS VII PTE. LTD.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>MV Credit Euro CLO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COSTA RICA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cordatus CLO PLC</name>
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          <isin value="XS3244866821"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Grosvenor Place CLO</name>
        <lei>635400LX9BTLWIOXOS15</lei>
        <title>Grosvenor Place CLO DAC</title>
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          <isin value="XS3247556916"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barings Euro CLO DAC</name>
        <lei>635400ZJ8J5B33GKCU35</lei>
        <title>Barings Euro CLO DAC</title>
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          <isin value="XS3246987104"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Indigo Credit Management</name>
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          <isin value="XS3236214899"/>
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        <fairValLevel>2</fairValLevel>
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        <name>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>The Federal Republic of Nigeria</name>
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        <fairValLevel>2</fairValLevel>
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        <name>The Federal Republic of Nigeria</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COSTA RICA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COSTA RICA GOVERNMENT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>The Federal Republic of Nigeria</name>
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        <title>Nigeria OMO Bills</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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        <name>Polaris</name>
        <lei>213800DMUJ69B2MVV386</lei>
        <title>Polaris PLC</title>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2070-06-27</maturityDt>
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          <annualizedRt>4.46000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ICG Euro CLO</name>
        <lei>5493000GNZH2JWC7EQ58</lei>
        <title>ICG Euro CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3295059524"/>
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        <balance>6600000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>7548772.86000000</valUSD>
        <pctVal>0.037141668651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.46000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Capital Four CLO</name>
        <lei>549300KVUV8LG4H5Y881</lei>
        <title>Capital Four CLO IV DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3298802573"/>
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        <balance>6400000.00000000</balance>
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        <valUSD>7313429.09000000</valUSD>
        <pctVal>0.035983724110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.39000000</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>KOREA HOUSING FINANCE CO</name>
        <lei>9884002AAOBT56QW9B80</lei>
        <title>Korea Housing Finance Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3284973107"/>
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        <balance>28100000.00000000</balance>
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        <valUSD>31641825.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</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>Braccan Mortgage Funding</name>
        <lei>2138006RXLKWX319BI66</lei>
        <title>Braccan Mortgage Funding PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3305916762"/>
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        <balance>19900000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>26403612.85000000</valUSD>
        <pctVal>0.129911742989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2068-04-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bosphorus CLO</name>
        <lei>635400XRKCRGLPSIAL07</lei>
        <title>Bosphorus CLO IX DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3325430083"/>
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        <balance>9300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>10645774.76000000</valUSD>
        <pctVal>0.052379617986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.61000000</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>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NGO7G1808268"/>
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        <balance>99400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NGN" exchangeRt="1380.21500000"/>
        <valUSD>70053.17000000</valUSD>
        <pctVal>0.000344677429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NGO4G2508260"/>
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        <balance>310100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NGN" exchangeRt="1380.21500000"/>
        <valUSD>217744.68000000</valUSD>
        <pctVal>0.001071353040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-25</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KUWAIT INTL BOND</name>
        <lei>549300FSC1YD0D9XX589</lei>
        <title>Kuwait International Government Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3350926781"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4991539.65000000</valUSD>
        <pctVal>0.024559503270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KW</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NGO8G0109260"/>
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        <balance>136100000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="NGN" exchangeRt="1380.21500000"/>
        <valUSD>95232.80000000</valUSD>
        <pctVal>0.000468566900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Harvest Funding</name>
        <lei>635400GYAAYKXXRBNI54</lei>
        <title>Harvest Funding PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3317471228"/>
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        <balance>31200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>41391710.86000000</valUSD>
        <pctVal>0.203656572821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.64000000</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>QNB FINANCE LTD</name>
        <lei>549300MY0DXTHQEX5O57</lei>
        <title>QNB Finance Ltd.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3353858023"/>
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        <balance>22100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22210996.81000000</valUSD>
        <pctVal>0.109283124453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.68000000</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>Tikehau</name>
        <lei>635400WC6EUSVRGKOG51</lei>
        <title>Tikehau CLO X DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3355995781"/>
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        <balance>12500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>14303212.59000000</valUSD>
        <pctVal>0.070375038767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.48000000</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>Cordatus CLO PLC</name>
        <lei>549300UZHWKVESFC2U21</lei>
        <title>CVC Cordatus Loan Fund XXIII DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3376302868"/>
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        <balance>14200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>16235255.40000000</valUSD>
        <pctVal>0.079881126074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.07000000</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>Providus CLO</name>
        <lei>635400EP4TBRMNX14Q64</lei>
        <title>Providus CLO VIII DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3385532000"/>
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        <balance>14000000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>16004313.54000000</valUSD>
        <pctVal>0.078744839925</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.42000000</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>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NGO9G0610265"/>
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        <balance>849038000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-06</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BONOS Y OBLIG DEL ESTADO</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0000012S22"/>
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        <balance>33700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>38680817.00000000</valUSD>
        <pctVal>0.190318362311</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST ABU DHABI BANK PJS</name>
        <lei>2138002Y3WMK6RZS8H90</lei>
        <title>First Abu Dhabi Bank PJSC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3395932646"/>
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        <balance>7900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7898262.00000000</valUSD>
        <pctVal>0.038861234211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>EMIRATES NBD BANK PJSC</name>
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        <name>NATIONAL BK HUNGARY BILL</name>
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        <name>OCP Euro CLO</name>
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        <name>Twin Bridges</name>
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        <name>ICE Futures Europe - Financial Products Division</name>
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        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF SOUTH AFRICA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ResLoC UK PLC</name>
        <lei>213800RE18XIC3OI1847</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Newgate Funding PLC</name>
        <lei>2138006KF4KS6D5P1697</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ludgate Funding Plc</name>
        <lei>213800LADM2GPWI3P269</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>RMAC Securities PLC</name>
        <lei>213800C48M2JTBGZT736</lei>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RMAC Securities PLC</name>
        <lei>213800C48M2JTBGZT736</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Eurosail Plc</name>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eurosail Plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mansard Mortgages Plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Newgate Funding PLC</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>Newgate Funding PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Newgate Funding PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TELECOM SERBIA</name>
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        <title>Telecom Serbia</title>
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        <invCountry>LU</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>BANK OF INDUSTRY LIMITED</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF PANAMA</name>
        <lei>549300SHS4T08CL0LP14</lei>
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        <assetCat>LON</assetCat>
        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>3</fairValLevel>
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        <name>PROJECT FENNO</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>PROJECT FENNO</name>
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          <other otherDesc="Internal Identifier" value="WHLNASM90"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>PROJECT FENNO</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="WHLN34905"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>FPS Finance Co 1 LLC</name>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>PROJECT DORCHESTER</name>
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          <other otherDesc="Internal Identifier" value="WHLNTM9C1"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Virgin Media Investment Holdings Limited</name>
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        <assetCat>LON</assetCat>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Nscale</name>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF PANAMA</name>
        <lei>549300SHS4T08CL0LP14</lei>
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        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <name>KOREA TREASURY BOND</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORDEA KREDIT REALKREDIT</name>
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        <title>Nordea Kredit Realkreditaktieselskab</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORDEA KREDIT REALKREDIT</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NYKREDIT REALKREDIT A/S</name>
        <lei>LIU16F6VZJSD6UKHD557</lei>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NORDEA KREDIT REALKREDIT</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>REALKREDIT DANMARK</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark AS</title>
        <cusip>000000000</cusip>
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          <isin value="DK0004612454"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>U.K. Gilts</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>REALKREDIT DANMARK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Australia Government Bonds</name>
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        <name>Japan Government Thirty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan Government Thirty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>REALKREDIT DANMARK</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>BPCE SA</name>
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          <isin value="USF11494CJ27"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
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        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Put</putOrCall>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>CCS USD R US SOFR/GBP SONIA-32.25 GLM</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS0289A1"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>2479770.79000000</valUSD>
        <pctVal>0.012201032766</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs Bank USA</counterpartyName>
              <counterpartyLei>KD3XUN7C6T14HNAYLU02</counterpartyLei>
            </counterparties>
            <amtCurSold>123405000.00000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>165634300.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2045-10-22</settlementDt>
            <unrealizedAppr>2633968.70000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>CCS USD R USSOFR/JPYMUTKCALM-44.2 FAR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS048547"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>16042498.13000000</valUSD>
        <pctVal>0.078932716738</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Wells Fargo Bank NA</counterpartyName>
              <counterpartyLei>KB1H1DSPRFMYMCUFXT09</counterpartyLei>
            </counterparties>
            <amtCurSold>22750000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>154930536.64000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2031-09-16</settlementDt>
            <unrealizedAppr>15391088.03000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>CCS USD R USSOFR/JPYMUTKCALM-42.5 GLM</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS048562"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>1558643.91000000</valUSD>
        <pctVal>0.007668880323</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs Bank USA</counterpartyName>
              <counterpartyLei>KD3XUN7C6T14HNAYLU02</counterpartyLei>
            </counterparties>
            <amtCurSold>2250000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>15306122.45000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2031-09-16</settlementDt>
            <unrealizedAppr>1541482.83000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>CCS USD R USSOFR/JPYMUTKCALM-31.5 GLM</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS0489A9"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>28029059.29000000</valUSD>
        <pctVal>0.137909306858</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs Bank USA</counterpartyName>
              <counterpartyLei>KD3XUN7C6T14HNAYLU02</counterpartyLei>
            </counterparties>
            <amtCurSold>92050000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>593870967.74000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2027-12-16</settlementDt>
            <unrealizedAppr>27646163.76000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>CCS USD R USSOFR/JPYMUTKCALM -45 FAR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS9069A8"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>16362964.23000000</valUSD>
        <pctVal>0.080509482382</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Wells Fargo Bank NA</counterpartyName>
              <counterpartyLei>KB1H1DSPRFMYMCUFXT09</counterpartyLei>
            </counterparties>
            <amtCurSold>73755300000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>466805696.21000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2032-03-17</settlementDt>
            <unrealizedAppr>14051905.27000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Citibank NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CCS USD R USSOFR/JPYMUTKCALM -45 CBK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS9069C4"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>1348610.70000000</valUSD>
        <pctVal>0.006635469458</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Citibank NA</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
            </counterparties>
            <amtCurSold>6078800000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>38473417.72000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2032-03-17</settlementDt>
            <unrealizedAppr>1245399.70000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D. This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <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="Please see notes to financial statements or N-PORT part F for a glossary of swap paid and received terms." noteItem="C.11.a"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list. Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>
      
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-03</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
