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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIRCASTLE / IRELAND DAC</name>
        <lei>N/A</lei>
        <title>Aircastle Ltd./Aircastle Ireland DAC</title>
        <cusip>00929JAC0</cusip>
        <identifiers>
          <isin value="US00929JAC09"/>
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        <balance>2300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2291673.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F020471</cusip>
        <identifiers>
          <isin value="US01F0204713"/>
        </identifiers>
        <balance>-21000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-19132753.29000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F020687</cusip>
        <identifiers>
          <isin value="US01F0206874"/>
        </identifiers>
        <balance>-82750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-66070306.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F022683</cusip>
        <identifiers>
          <isin value="US01F0226831"/>
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        <balance>-4400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3675718.68000000</valUSD>
        <pctVal>-0.30667231968</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F030686</cusip>
        <identifiers>
          <isin value="US01F0306864"/>
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        <balance>-8900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-7756906.16000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F032682</cusip>
        <identifiers>
          <isin value="US01F0326821"/>
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        <balance>-8700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-7888113.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F040677</cusip>
        <identifiers>
          <isin value="US01F0406771"/>
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        <balance>7960000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7440715.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F040685</cusip>
        <identifiers>
          <isin value="US01F0406854"/>
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        <balance>6880000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6426333.63000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F042673</cusip>
        <identifiers>
          <isin value="US01F0426738"/>
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        <balance>30010000.00000000</balance>
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        <valUSD>28753330.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F042681</cusip>
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          <isin value="US01F0426811"/>
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        <balance>7800000.00000000</balance>
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        <valUSD>7466367.09000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F050676</cusip>
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          <isin value="US01F0506760"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F050684</cusip>
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          <isin value="US01F0506844"/>
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        <balance>202100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F052680</cusip>
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          <isin value="US01F0526800"/>
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        <balance>4880000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F060691</cusip>
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          <isin value="US01F0606917"/>
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        <balance>-5506000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F062689</cusip>
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          <isin value="US01F0626899"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>5493004SLAYUFMHIS127</lei>
        <title>Countrywide Alternative Loan Trust</title>
        <cusip>021468AB9</cusip>
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          <isin value="US021468AB99"/>
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        <balance>183378.73000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-25</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Countrywide Alternative Loan Trust</name>
        <lei>549300EBNJLBIQBKE071</lei>
        <title>Countrywide Alternative Loan Trust</title>
        <cusip>02147CAG8</cusip>
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          <isin value="US02147CAG87"/>
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        <balance>675195.18000000</balance>
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        <valUSD>510610.08000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.28000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>02150DAA3</cusip>
        <identifiers>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <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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        <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>Countrywide Home Loans</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
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        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust</title>
        <cusip>12669GPN5</cusip>
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          <isin value="US12669GPN50"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust</title>
        <cusip>12669GPR6</cusip>
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          <isin value="US12669GPR64"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
        <lei>N/A</lei>
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        <cusip>12669GTV3</cusip>
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          <isin value="US12669GTV31"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Canada Government Bonds</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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          <isin value="CA135087S471"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
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        <title>Canada Government Real Return Bonds</title>
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          <isin value="CA135087ZH04"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CANADIAN IMPERIAL BANK</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
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          <isin value="US13607PVU55"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Chase Mortgage Finance Corporation</name>
        <lei>529900A7SLLSJMEDIN80</lei>
        <title>Chase Home Lending Mortgage Trust</title>
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          <isin value="US16159RAC97"/>
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        <balance>816225.46000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Chase Mortgage Finance Corporation</name>
        <lei>529900A7SLLSJMEDIN80</lei>
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          <isin value="US161630AA63"/>
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        <valUSD>23792.87000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Chase Mortgage Finance Corporation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chile Government International Bonds</name>
        <lei>549300FLZTJM5YJF8D34</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Countrywide Home Loans</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc</name>
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        <title>Citigroup Mortgage Loan Trust, Inc. Mortgage Pass-Through Certificates</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust Inc</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Citicorp Mortgage Securities, Inc.</name>
        <lei>549300ISEJNGWSXAKR30</lei>
        <title>Citicorp Mortgage Securities Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Santander SA</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>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <name>Societe Generale SA</name>
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      <invstOrSec>
        <name>Citibank NA</name>
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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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        <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>Standard Chartered Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <name>Goldman Sachs Bank USA</name>
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        <name>Standard Chartered Bank</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <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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      <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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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <curCd>USD</curCd>
        <valUSD>4409.91000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Greenpoint Mortgage Pass-Through Certificates</name>
        <lei>N/A</lei>
        <title>GreenPoint Mortgage Pass-Through Certificates</title>
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          <isin value="US395387AA13"/>
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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>GreenPoint Mortgage Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GreenPoint Mortgage Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GreenPoint Mortgage Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA Inc</name>
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        <title>HCA, Inc.</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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        <name>HCA Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HPS CORPORATE LENDING FU</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HarborView Mortgage Loan Trust</name>
        <lei>549300SZXFEQICAU3R39</lei>
        <title>HarborView Mortgage 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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      <invstOrSec>
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        <lei>549300SZXFEQICAU3R39</lei>
        <title>HarborView Mortgage Loan Trust</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <invCountry>JE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUNGARY</name>
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          <isin value="US445545AW68"/>
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        <curCd>USD</curCd>
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        <invCountry>HU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Impac CMB 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>IndyMac INDX 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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      <invstOrSec>
        <name>IndyMac INDX Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ING GROEP NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>INTESA SANPAOLO SPA</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>Jabil Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>JP Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <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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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper 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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        <name>KOREA NATIONAL OIL CORP</name>
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        <title>Korea National Oil Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>KUWAIT INTL BOND</name>
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        <title>Kuwait International Government Bonds</title>
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        <invCountry>KW</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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        <name>Lehman XS 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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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MDGH GMTN RSC LTD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MFRA Trust</name>
        <lei>2549007EHG79GWD49I44</lei>
        <title>MFA Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Madison Park Funding Ltd</name>
        <lei>254900PB1ZVJO7PYBX29</lei>
        <title>Madison Park Funding LXIX Ltd.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>MASTR Adjustable Rate Mortgages 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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        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Merrill Lynch Mortgage Investors Trust</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Merrill Lynch Mortgage Investors Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Merrill Lynch Mortgage Backed Securities 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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        <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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        <fairValLevel>2</fairValLevel>
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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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        <name>Renaissance Home Equity Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Residential Asset Securitization Trust</name>
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        <name>Residential Funding Mtg Sec I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Romark CLO Ltd</name>
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        <invCountry>KY</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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      <invstOrSec>
        <name>Securitized Asset Backed Receivables LLC Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SEMPRA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sequoia Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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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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      <invstOrSec>
        <name>Soundview Home Equity Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUTHERN CAL EDISON</name>
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        <title>Southern California Edison Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Spire Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STANDARD CHARTERED PLC</name>
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        <title>Standard Chartered PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>KUWAIT INTL BOND</name>
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        <invCountry>KW</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Poland Government International Bonds</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Poland Government International Bonds</name>
        <lei>259400R9L8QEP0TPXS31</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Amortizing Residential Collateral Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-25</maturityDt>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
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          <isin value="US86359LBY48"/>
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        <curCd>USD</curCd>
        <valUSD>620.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86359LJA8</cusip>
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          <isin value="US86359LJA89"/>
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        <curCd>USD</curCd>
        <valUSD>71463.32000000</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>
          <annualizedRt>4.22000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86359LLZ0</cusip>
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          <isin value="US86359LLZ03"/>
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        <curCd>USD</curCd>
        <valUSD>5302.81000000</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>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86359LPE3</cusip>
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          <isin value="US86359LPE38"/>
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        <curCd>USD</curCd>
        <valUSD>12234.32000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86360KAA6</cusip>
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          <isin value="US86360KAA60"/>
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        <balance>43058.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39768.79000000</valUSD>
        <pctVal>0.003317987077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.18000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86360UAF3</cusip>
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          <isin value="US86360UAF30"/>
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        <balance>337061.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239952.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.14000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust</title>
        <cusip>86363LAB9</cusip>
        <identifiers>
          <isin value="US86363LAB99"/>
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        <balance>19497.11000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18421.51000000</valUSD>
        <pctVal>0.001536942213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.20000000</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>Structured Adjustable Rate Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Structured Adjustable Rate Mortgage Loan Trust</title>
        <cusip>86364JAA5</cusip>
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          <isin value="US86364JAA51"/>
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        <balance>109952.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103600.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.64000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86364MAC4</cusip>
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          <isin value="US86364MAC47"/>
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        <balance>39383.98000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35769.21000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Structured Asset Mortgage Investments Inc</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust</title>
        <cusip>86364RAA7</cusip>
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          <isin value="US86364RAA77"/>
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        <balance>583219.78000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506489.40000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.24000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Structured Asset Securities Corporation</name>
        <lei>N/A</lei>
        <title>Structured Asset Securities Corp. Mortgage Loan Trust</title>
        <cusip>863911AA1</cusip>
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          <isin value="US863911AA15"/>
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        <balance>674754.08000000</balance>
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        <curCd>USD</curCd>
        <valUSD>579624.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINL GRP</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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          <isin value="US86562MEA45"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Symphony CLO Ltd</name>
        <lei>254900H6EAUOGL2U2U64</lei>
        <title>Symphony CLO XXIX Ltd.</title>
        <cusip>87168GAN9</cusip>
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          <isin value="US87168GAN97"/>
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        <balance>2300000.00000000</balance>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>TBW Mortgage Backed Pass Through Certificates</name>
        <lei>N/A</lei>
        <title>TBW Mortgage-Backed Trust</title>
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          <isin value="US872224AG53"/>
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        <balance>189270.43000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TCI-Symphony CLO</name>
        <lei>5493005WLG3H3B8NI222</lei>
        <title>TCI-Symphony CLO Ltd.</title>
        <cusip>87229WAQ4</cusip>
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          <isin value="US87229WAQ42"/>
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        <balance>197926.84000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-13</maturityDt>
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      <invstOrSec>
        <name>Terwin Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Terwin Mortgage Trust</title>
        <cusip>881561CE2</cusip>
        <identifiers>
          <isin value="US881561CE22"/>
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        <balance>33235.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30319.81000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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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>
        <identifiers>
          <isin value="US88258MAA36"/>
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        <balance>395393.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>401731.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>Towd Point 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>Towd Point Mortgage Trust</name>
        <lei>25490010CSYSAQU59J50</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89178BAA2</cusip>
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        <curCd>USD</curCd>
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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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          <isin value="US89178WAU27"/>
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        <curCd>USD</curCd>
        <valUSD>634543.92000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-01-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Trinitas CLO Ltd</name>
        <lei>5493007IXHTJ7TQMIW41</lei>
        <title>Trinitas CLO XX Ltd.</title>
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          <isin value="US89640EAN85"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1300017.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-20</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Trinitas CLO Ltd</name>
        <lei>254900E0LENORBQRRG46</lei>
        <title>Trinitas CLO XVII Ltd.</title>
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          <isin value="US89642JAL98"/>
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        <balance>3100000.00000000</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>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.83000000</annualizedRt>
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      <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>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>249942.50000000</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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      <invstOrSec>
        <name>UBS GROUP AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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          <isin value="US902613BL18"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS AG STAMFORD CT</name>
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        <title>UBS AG</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Wholesale Mortgage LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mexico Government International Bonds</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mexico Government International Bonds</title>
        <cusip>91087BAL4</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912797UQ8</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>United States Treasury</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Indexed Bonds</title>
        <cusip>912810PZ5</cusip>
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        <balance>3101320.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Australia Government Bonds</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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        <fairValLevel>2</fairValLevel>
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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>NYKREDIT REALKREDIT A/S</name>
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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>New Zealand Government Bonds</name>
        <lei>549300237GPHG2AI7C34</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCA MONTE DEI PASCHI S</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ROMANIA</name>
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          <isin value="XS2109812508"/>
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        <invCountry>RO</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>QUEENSLAND TREASURY 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>NYKREDIT REALKREDIT A/S</name>
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        <fairValLevel>2</fairValLevel>
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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>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Twenty Year Bonds</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.40000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY CORP VICTORIA</name>
        <lei>549300ZJM7BQW1P9UV75</lei>
        <title>Treasury Corp. of Victoria</title>
        <cusip>000000000</cusip>
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          <isin value="AU3SG0002256"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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="MYBMO2000028"/>
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        <balance>3700000.00000000</balance>
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        <currencyConditional curCd="MYR" exchangeRt="4.07750000"/>
        <valUSD>877002.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2258827034"/>
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        <balance>200000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>264540.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>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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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>715118.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2258398911"/>
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        <balance>800000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>4900000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44435600"/>
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        <pctVal>0.232764165653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dryden Leveraged Loan CDO</name>
        <lei>635400RDG3EM9CGEVD60</lei>
        <title>Dryden 27 R Euro CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2305383288"/>
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        <balance>524780.33000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <pctVal>0.050033515316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.86000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>1.93000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <pctVal>0.000000019189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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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>1.86000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <pctVal>0.000000019189</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2331735253"/>
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        <balance>100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>BlackRock European CLO DAC</name>
        <lei>635400I5HNBLHUNUTO41</lei>
        <title>BlackRock European CLO III DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2348330064"/>
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        <balance>1133937.15000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-19</maturityDt>
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      <invstOrSec>
        <name>NORDEA KREDIT REALKREDIT</name>
        <lei>52990080NNXXLC14OC65</lei>
        <title>Nordea Kredit Realkreditaktieselskab</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0002050012"/>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <pctVal>0.000000087603</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Sculptor European CLO</name>
        <lei>635400LLV8UFATLHHM75</lei>
        <title>Sculptor European CLO VI DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2369734509"/>
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        <balance>1894432.38000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>NEW S WALES TREASURY CRP</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
        <title>New South Wales Treasury Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU3SG0002553"/>
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        <balance>5800000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44435600"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF NOVA SCOTIA</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>Bank of Nova Scotia</title>
        <cusip>000000000</cusip>
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          <isin value="XS2386592138"/>
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        <balance>1900000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.01000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <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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        <balance>600000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2081-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.88000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>REPUBLIC OF SERBIA</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Serbia International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2388561750"/>
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        <balance>900000.00000000</balance>
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        <valUSD>816830.95000000</valUSD>
        <pctVal>0.068149786215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF SERBIA</name>
        <lei>254900W94OCY91V32O78</lei>
        <title>Serbia International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2388558889"/>
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        <balance>1100000.00000000</balance>
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        <invCountry>RS</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <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>2400000.00000000</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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          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>U.K. Gilts</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Gilts</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BM8Z2V59"/>
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        <balance>2400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-31</maturityDt>
          <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>
        <identifiers>
          <isin value="CND10004NCM5"/>
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        <balance>47500000.00000000</balance>
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        <currencyConditional curCd="CNY" exchangeRt="6.78540000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.53000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REALKREDIT DANMARK</name>
        <lei>549300NLOMBOWE943Y30</lei>
        <title>Realkredit Danmark AS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0004620127"/>
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        <balance>1.17000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.54165000"/>
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        <pctVal>0.000000012514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KOMMUNALBANKEN AS</name>
        <lei>I7ETN0QQO2AHZZGHJ389</lei>
        <title>Kommunalbanken AS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU3CB0285849"/>
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        <balance>2200000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44435600"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2434895632"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>413589.17000000</valUSD>
        <pctVal>0.034506544489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>NEW S WALES TREASURY CRP</name>
        <lei>TC7LRO17HPNPLTAV0H77</lei>
        <title>New South Wales Treasury Corp.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU3SG0002629"/>
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        <balance>8400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44435600"/>
        <valUSD>5055681.56000000</valUSD>
        <pctVal>0.421805292132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>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>500000000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="162.59500000"/>
        <valUSD>1631569.24000000</valUSD>
        <pctVal>0.136124977759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</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>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2492482828"/>
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        <balance>600000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>824974.93000000</valUSD>
        <pctVal>0.068829254220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <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>LLOYDS BANKING GROUP PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2529511722"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>274831.01000000</valUSD>
        <pctVal>0.022929682790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</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>ROMANIA</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2538441085"/>
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        <balance>73000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Italy Buoni Poliennali Del Tesoro</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005521981"/>
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        <balance>11500000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia TES</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="COL17CT03862"/>
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        <balance>18263000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="COP" exchangeRt="3418.22000000"/>
        <valUSD>5638191.41000000</valUSD>
        <pctVal>0.470405215710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>13.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2591803841"/>
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        <balance>200000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</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>French Republic Government Bonds OAT</name>
        <lei>969500KCGF3SUYJHPV70</lei>
        <title>French Republic Government Bonds OAT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400HI98"/>
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        <balance>5200000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>5942173.02000000</valUSD>
        <pctVal>0.495766989447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>MALAYSIA GOVERNMENT</name>
        <lei>254900GSIL471JOBYY43</lei>
        <title>Malaysia Government Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MYBMI2300024"/>
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        <balance>47830000.00000000</balance>
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        <currencyConditional curCd="MYR" exchangeRt="4.07750000"/>
        <valUSD>11797206.45000000</valUSD>
        <pctVal>0.984263754340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
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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>Spain Government Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QUEENSLAND TREASURY CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Saudi Government International Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>EXPORT DEVELOPMNT CANADA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VMED O2 UK FINANCING I</name>
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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>Towd Point Mortgage Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ROMANIA</name>
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        <name>Japan Government Forty Year Bonds</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>LETRA TESOURO NACIONAL</name>
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        <cusip>000000000</cusip>
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          <isin value="BRSTNCLTN8G4"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Japan Government Five Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Five Year Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="JP1051711Q82"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>PSP CAPITAL INC</name>
        <lei>549300B456N0WEIC5249</lei>
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        <cusip>000000000</cusip>
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          <isin value="AU3CB0313088"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Tower Bridge Funding</name>
        <lei>635400XMA28GDAPK1E69</lei>
        <title>Tower Bridge Funding PLC</title>
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          <isin value="XS2885223839"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-12-20</maturityDt>
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          <annualizedRt>4.54000000</annualizedRt>
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        <securityLending>
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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="XS2908712040"/>
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        <balance>800000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-24</maturityDt>
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          <annualizedRt>5.13000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ares Euro CLO</name>
        <lei>635400CPKWIBFGMQTE81</lei>
        <title>ARES European CLO XIV DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2920478356"/>
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        <balance>853500.05000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-21</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grosvenor Place CLO</name>
        <lei>635400MCCB6TWMK1AY05</lei>
        <title>Grosvenor Place CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2925040128"/>
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        <balance>1800000.00000000</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>2039-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.44000000</annualizedRt>
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      <invstOrSec>
        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="ES0000012O00"/>
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        <balance>3000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>Italy Buoni Poliennali Del Tesoro</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italy Buoni Poliennali Del Tesoro</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005622128"/>
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        <balance>3800000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>2.70000000</annualizedRt>
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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>275620000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.70000000</annualizedRt>
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        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
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          <isin value="ES0000012O59"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Japan Government Thirty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Thirty Year Bonds</title>
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          <isin value="JP1300851R17"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Japan Government Twenty Year Bonds</name>
        <lei>353800WZS8AXZXFUC241</lei>
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          <isin value="JP1201911R15"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CHINA GOVERNMENT BOND</name>
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          <isin value="CND10008RFM0"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Spain Government Bonds</title>
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          <isin value="ES0000012O67"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LETRA TESOURO NACIONAL</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Brazil Letras do Tesouro Nacional</title>
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          <isin value="BRSTNCLTN8I0"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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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="XS2999546687"/>
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        <invCountry>RO</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Palmer Square European Loan Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAUDI INTERNATIONAL BOND</name>
        <lei>635400FMICXSM3SI3H65</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EUROPEAN UNION</name>
        <lei>529900FZRK8FGMPEOM08</lei>
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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>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="JP1201921R47"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Braccan Mortgage Funding</name>
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          <isin value="XS3063585965"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN EXPRESS CO</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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          <isin value="XS3015761458"/>
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        <fairValLevel>2</fairValLevel>
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        <name>EUROPEAN UNION</name>
        <lei>529900FZRK8FGMPEOM08</lei>
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          <isin value="EU000A4EA8Y7"/>
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        <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>Spain Government Bonds</name>
        <lei>9598007A56S18711AH60</lei>
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          <isin value="ES0000012P33"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PHILIP MORRIS INTL INC</name>
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        <title>Philip Morris International, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BONOS DE TESORERIA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>REALTY INCOME CORP</name>
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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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          <isin value="XS3109623689"/>
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        <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="JP1300871R70"/>
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        <invCountry>JP</invCountry>
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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="JP1201931R78"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-20</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>Tikehau</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BULGARIA</name>
        <lei>529900PG0XCL4LICL838</lei>
        <title>Bulgaria Government International Bonds</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BULGARIA</name>
        <lei>529900PG0XCL4LICL838</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OCP Euro CLO</name>
        <lei>635400NSID6FARUW3W95</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS3127992785"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-20</maturityDt>
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        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
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        <cusip>000000000</cusip>
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          <isin value="COL17CT04084"/>
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        <fairValLevel>2</fairValLevel>
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        <name>TITULOS DE TESORERIA</name>
        <lei>549300MHDRBVRF6B9117</lei>
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        <cusip>000000000</cusip>
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          <isin value="COL17CT04076"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Dryden Leveraged Loan CDO</name>
        <lei>635400BB1FXUIKRSHD56</lei>
        <title>Dryden Euro CLO</title>
        <cusip>000000000</cusip>
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          <isin value="XS3144968255"/>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-10-18</maturityDt>
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      <invstOrSec>
        <name>KOREA GAS CORP</name>
        <lei>988400TFZILHBD5M3R71</lei>
        <title>Korea Gas Corp.</title>
        <cusip>000000000</cusip>
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          <isin value="XS1124644250"/>
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        <curCd>USD</curCd>
        <valUSD>1924446.02000000</valUSD>
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        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>SOUTH AUST GOVT FIN AUTH</name>
        <lei>254900TDPILDN6AUAD69</lei>
        <title>South Australian Government Financing Authority</title>
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          <isin value="AU3SG0003239"/>
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        <invCountry>AU</invCountry>
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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>
        <cusip>000000000</cusip>
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          <isin value="NGO4E0707265"/>
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        <assetCat>STIV</assetCat>
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        <invCountry>NG</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-07</maturityDt>
          <couponKind>None</couponKind>
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        <name>KONA SPC LTD</name>
        <lei>254900UKS4SVVOMZWX26</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS3135157884"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>3</fairValLevel>
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        <name>Palmer Square European Loan Funding</name>
        <lei>254900VGFCQBASWATQ78</lei>
        <title>Palmer Square European Loan Funding DAC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3181981799"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-15</maturityDt>
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        <name>Together Asset Backed Securitisation</name>
        <lei>213800ATT519H28VFU67</lei>
        <title>Together Asset-Backed Securitisation 14 PLC</title>
        <cusip>000000000</cusip>
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          <isin value="XS3174366966"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CASSA DEPOSITI E PRESTIT</name>
        <lei>81560029E2CE4D14F425</lei>
        <title>Cassa Depositi e Prestiti SpA</title>
        <cusip>000000000</cusip>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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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="XS3200176298"/>
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        <fairValLevel>2</fairValLevel>
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        <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="JP1300881RA0"/>
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        <balance>240000000.00000000</balance>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>WAREHOUSES DE PAUW SCA</name>
        <lei>549300HWDYC5JXC85138</lei>
        <title>Warehouses De Pauw CVA</title>
        <cusip>000000000</cusip>
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          <isin value="BE0390256254"/>
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        <balance>1700000.00000000</balance>
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        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.13000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <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>4600000.00000000</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>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <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>2500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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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="EGT9980KAQ10"/>
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        <balance>850000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-20</maturityDt>
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        <securityLending>
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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>2300000.00000000</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>2040-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.43000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3215634810"/>
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        <balance>900000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>000000000</cusip>
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          <isin value="XS3215634901"/>
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        <balance>800000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EGYPT GOVERNMENT BOND</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Government Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EGBGR06541F9"/>
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        <balance>52800000.00000000</balance>
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        <currencyConditional curCd="EGP" exchangeRt="49.13000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>19.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cordatus CLO PLC</name>
        <lei>5493000M05JNL8RFAD47</lei>
        <title>CVC Cordatus Loan Fund XXX DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3230493515"/>
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        <balance>2300000.00000000</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>2037-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.53000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>2300000.00000000</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>2038-10-15</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COSTA RICA GOVERNMENT</name>
        <lei>549300S1EK2VN6XVJP58</lei>
        <title>Costa Rica Government International Bonds</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3239964581"/>
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        <balance>1750000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.87519700"/>
        <valUSD>2103806.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Grosvenor Place CLO</name>
        <lei>635400LX9BTLWIOXOS15</lei>
        <title>Grosvenor Place CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3247556916"/>
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        <balance>800000.00000000</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>
        <debtSec>
          <maturityDt>2039-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.38000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barings Euro CLO DAC</name>
        <lei>635400ZJ8J5B33GKCU35</lei>
        <title>Barings Euro CLO DAC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3246987104"/>
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        <balance>700000.00000000</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>
        <debtSec>
          <maturityDt>2039-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.43000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
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          <isin value="NGO7F1407261"/>
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        <balance>113726000.00000000</balance>
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        <currencyConditional curCd="NGN" exchangeRt="1380.21500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-14</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>COSTA RICA GOVERNMENT</name>
        <lei>549300S1EK2VN6XVJP58</lei>
        <title>Costa Rica Government International Bonds</title>
        <cusip>000000000</cusip>
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          <isin value="XS3273874563"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>The Federal Republic of Nigeria</name>
        <lei>549300G1JG004Y3K8S97</lei>
        <title>Nigeria OMO Bills</title>
        <cusip>000000000</cusip>
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          <isin value="NGO2G1108264"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-11</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Polaris</name>
        <lei>213800DMUJ69B2MVV386</lei>
        <title>Polaris PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS3277922020"/>
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        <balance>2099962.76000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75389200"/>
        <valUSD>2779565.44000000</valUSD>
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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>2070-06-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.46000000</annualizedRt>
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        <name>ICG Euro CLO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MACQUARIE BANK LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Providus CLO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KOREA HOUSING FINANCE CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Braccan Mortgage Funding</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>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>
        <debtSec>
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        <name>Italy Buoni Poliennali Del Tesoro</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QNB FINANCE LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <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>BONOS Y OBLIG DEL ESTADO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FIRST ABU DHABI BANK PJS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EMIRATES NBD BANK PJSC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NATIONAL BK HUNGARY BILL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ICE Futures Europe - Financial Products Division</name>
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        <name>Eurex Deutschland</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RMAC Securities PLC</name>
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        <name>Virgin Media Investment Holdings Limited</name>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <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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        <curCd>USD</curCd>
        <valUSD>2.21000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Bank of America NA</counterpartyName>
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            </counterparties>
            <putOrCall>Put</putOrCall>
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              <nestedDerivInfo>
                <fwdDeriv derivCat="FWD">
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                  <derivAddlInfo>
                    <name>Bank of America NA</name>
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                    <cusip>N/A</cusip>
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                      <other otherDesc="Internal Identifier" value="OP004RW50E"/>
                    </identifiers>
                    <balance>1.00000000</balance>
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            <shareNo>1.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-22387.26000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
        <lei>B4TYDEB6GKMZO031MB27</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SBB0"/>
        </identifiers>
        <balance>-2207516.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
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        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Put</putOrCall>
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                  <derivAddlInfo>
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                    <cusip>N/A</cusip>
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            <shareNo>1.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>7860.52000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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          <other otherDesc="Internal Identifier" value="31750SBI5"/>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
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            <putOrCall>Put</putOrCall>
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                  <derivAddlInfo>
                    <name>HSBC Bank PLC</name>
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                    </identifiers>
                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
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                    <assetCat>DFE</assetCat>
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            <shareNo>1.00000000</shareNo>
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            <expDt>2026-07-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>13018.90000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SBH7"/>
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        <balance>4201000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
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                  <derivAddlInfo>
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            <shareNo>1.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-38645.00000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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          <other otherDesc="Internal Identifier" value="31750SC03"/>
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        <balance>-4201000.00000000</balance>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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                  <derivAddlInfo>
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                    <balance>1.00000000</balance>
                    <units>NC</units>
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                    <invCountry>KR</invCountry>
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            <shareNo>1.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>10876.39000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Bank PLC</name>
        <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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        <identifiers>
          <other otherDesc="Internal Identifier" value="31750SBZ7"/>
        </identifiers>
        <balance>4201000.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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                    <lei>MP6I5ZYZBEU3UXPYFY54</lei>
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                    <balance>1.00000000</balance>
                    <units>NC</units>
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            <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>Bank of America NA</name>
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        <fairValLevel>2</fairValLevel>
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            <putOrCall>Put</putOrCall>
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                  <derivAddlInfo>
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            <delta>XXXX</delta>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America NA</name>
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          <other otherDesc="Internal Identifier" value="31750SCJ2"/>
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        <balance>491484.00000000</balance>
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        <pctVal>0.000000040881</pctVal>
        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                  <derivAddlInfo>
                    <name>Bank of America NA</name>
                    <lei>B4TYDEB6GKMZO031MB27</lei>
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                    <identifiers>
                      <other otherDesc="Internal Identifier" value="OP004S632E"/>
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                    <balance>1.00000000</balance>
                    <units>NC</units>
                    <curCd>USD</curCd>
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                    <assetCat>DFE</assetCat>
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                  <amtCurSold>688077600.00000000</amtCurSold>
                  <curSold>KRW</curSold>
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                  <curPur>USD</curPur>
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            <shareNo>1.00000000</shareNo>
            <exercisePrice>1400.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-07-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3360.28000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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                <issueTitle>Singapore Government Bonds</issueTitle>
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                  <isin value="SGXF75438295"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">equity-performance leg</otherRecDesc>
            <floatingPmntDesc curCd="SGD" fixedOrFloating="Floating" floatingRtIndex="6 mo. SGD SIBOR" floatingRtSpread="-0.05000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="6" resetDt="Month" resetDtUnit="12"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-08-26</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>SGD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>SGD</rcptCurCd>
            <notionalAmt>110000.00000000</notionalAmt>
            <curCd>SGD</curCd>
            <unrealizedAppr>1679.49000000</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-35.65 CBK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS028317"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>3093489.96000000</valUSD>
        <pctVal>0.258095851331</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>5926400000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>39509333.33000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2027-12-16</settlementDt>
            <unrealizedAppr>2587743.45000000</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 US SOFR/GBP SONIA-30.05 GLM</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="XCS0286B2"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>51330.55000000</valUSD>
        <pctVal>0.004282607079</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>8021000.00000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>10667930.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2045-10-15</settlementDt>
            <unrealizedAppr>92231.43000000</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>669906.51000000</valUSD>
        <pctVal>0.055891595979</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>950000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>6469626.80000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2031-09-16</settlementDt>
            <unrealizedAppr>642704.77000000</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>76200.37000000</valUSD>
        <pctVal>0.006357544269</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>110000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>748299.32000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2031-09-16</settlementDt>
            <unrealizedAppr>75361.38000000</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>735363.15000000</valUSD>
        <pctVal>0.061352770072</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>2415000000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>15580645.16000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2027-12-16</settlementDt>
            <unrealizedAppr>725317.60000000</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>1348699.45000000</valUSD>
        <pctVal>0.112524604003</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>6079200000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>38475949.37000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2032-03-17</settlementDt>
            <unrealizedAppr>1250227.21000000</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>95353.17000000</valUSD>
        <pctVal>0.007955499421</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>429800000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>2720253.16000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2032-03-17</settlementDt>
            <unrealizedAppr>88055.67000000</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>
