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        <name>Adventist Health System</name>
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        <name>Sumisho Air Lease Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Alphabet, Inc.</name>
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        <name>Ameren Corp.</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Elevance Health, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aon Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AppLovin Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ares XXXIV CLO Ltd.</name>
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        <name>Ares XLI CLO Ltd.</name>
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        <name>Arizona Public Service Co.</name>
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        <name>Ascension Health</name>
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        <name>Ashtead Capital, Inc.</name>
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        <name>Atmos Energy Corp.</name>
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        <name>AutoNation, Inc.</name>
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        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BANK5</name>
        <lei>N/A</lei>
        <title>BANK5, Series 2025-5YR19, Class A3</title>
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          <isin value="US05494RBL50"/>
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        <curCd>USD</curCd>
        <valUSD>6033375.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK5</name>
        <lei>N/A</lei>
        <title>BANK5, Series 2025-5YR19, Class AS</title>
        <cusip>05494RBT8</cusip>
        <identifiers>
          <isin value="US05494RBT86"/>
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        <curCd>USD</curCd>
        <valUSD>3017052.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBB0</cusip>
        <identifiers>
          <isin value="US05526DBB01"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297062.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55700000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBR5</cusip>
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          <isin value="US05526DBR52"/>
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        <balance>970000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>933329.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25900000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBX2</cusip>
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          <isin value="US05526DBX21"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>124072.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="115204.31000000"/>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBZ7</cusip>
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          <isin value="US05526DBZ78"/>
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        <balance>2584000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2682989.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BAT International Finance plc</name>
        <lei>21380041YBGOQDFAC823</lei>
        <title>BAT International Finance plc</title>
        <cusip>05530QAP5</cusip>
        <identifiers>
          <isin value="US05530QAP54"/>
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        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>323996.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.44800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="212911.94000000"/>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2024-C26, Class B</title>
        <cusip>05555AAJ4</cusip>
        <identifiers>
          <isin value="US05555AAJ43"/>
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        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1721061.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.94299880</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BFLD Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BFLD Commercial Mortgage Trust, Series 2025-660F, Class B</title>
        <cusip>05556QAC3</cusip>
        <identifiers>
          <isin value="US05556QAC33"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3003750.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.47637040</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMO Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BMO Mortgage Trust, Series 2024-C9, Class A5</title>
        <cusip>05593MAD5</cusip>
        <identifiers>
          <isin value="US05593MAD56"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1333522.32000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75920000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2025-ROIC, Class A</title>
        <cusip>05593VAA1</cusip>
        <identifiers>
          <isin value="US05593VAA17"/>
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        <balance>4434191.38000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4425880.38000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2024-BIO, Class A</title>
        <cusip>05612AAA4</cusip>
        <identifiers>
          <isin value="US05612AAA43"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2024-XL5, Class A</title>
        <cusip>05612GAA1</cusip>
        <identifiers>
          <isin value="US05612GAA13"/>
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        <balance>0.05210000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.06801880</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2025-ARIA, Class A</title>
        <cusip>05619TAA6</cusip>
        <identifiers>
          <isin value="US05619TAA60"/>
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        <balance>3700000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BLP Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BLP Commercial Mortgage Trust, Series 2024-IND2, Class A</title>
        <cusip>05625AAA9</cusip>
        <identifiers>
          <isin value="US05625AAA97"/>
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        <balance>0.00800000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bacardi-Martini BV</name>
        <lei>5493002XXBV8B88K2408</lei>
        <title>Bacardi-Martini BV</title>
        <cusip>05634WAA0</cusip>
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          <isin value="US05634WAA09"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1263740.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bain Capital Credit CLO</name>
        <lei>549300B0VI605XM3L529</lei>
        <title>Bain Capital Credit CLO, Series 2019-1A, Class BR3</title>
        <cusip>05683VBL7</cusip>
        <identifiers>
          <isin value="US05683VBL71"/>
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        <balance>4825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4826954.13000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.12921160</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Balboa Bay Loan Funding Ltd.</name>
        <lei>549300MALKZHG9DP8554</lei>
        <title>Balboa Bay Loan Funding Ltd., Series 2020-1A, Class A1RR</title>
        <cusip>05766BAU2</cusip>
        <identifiers>
          <isin value="US05766BAU26"/>
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        <balance>3625000.00000000</balance>
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        <name>California Public Finance Authority</name>
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        <name>Carrier Global Corp.</name>
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        <name>Cedar Funding IX CLO Ltd.</name>
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        <name>Cemex SAB de CV</name>
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        <name>Cheniere Corpus Christi Holdings LLC</name>
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        <name>Citigroup, Inc.</name>
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        <name>Comcast Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Software, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Cornell University</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UBS Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown Castle, Inc.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle, Inc.</title>
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        <name>Devon Energy Corp.</name>
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        <name>DP World Crescent Ltd.</name>
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        <name>Duke Energy Corp.</name>
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        <name>EQT Corp.</name>
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        <name>EQT Corp.</name>
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        <name>Empower CLO Ltd.</name>
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        <name>Enbridge, Inc.</name>
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        <name>Esab Corp.</name>
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        <name>Expedia Group, Inc.</name>
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        <name>FS KKR Capital Corp.</name>
        <lei>549300TYRSI1T21B1360</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>Freeport-McMoRan, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GE Capital International Funding Co. Unlimited Co.</name>
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        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GCAT Trust</name>
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          <isin value="US36168HAA23"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</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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        <name>Global Infrastructure Solutions, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Graham Holdings Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>HP, Inc.</name>
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        <name>HP, Inc.</name>
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        <name>HLTN Commercial Mortgage Trust</name>
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        <name>Halseypoint CLO 7 Ltd.</name>
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        <name>Hewlett Packard Enterprise Co.</name>
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        <name>Houston Galleria Mall Trust</name>
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        <name>Howmet Aerospace, Inc.</name>
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        <name>Humana, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyatt Hotels Corp.</name>
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        <name>IDEX Corp.</name>
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        <name>Indiana Michigan Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ingersoll Rand, Inc.</name>
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        <name>Intel Corp.</name>
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        <name>Intel Corp.</name>
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        <name>International Business Machines Corp.</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PFK75"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5</title>
        <cusip>46648KAU0</cusip>
        <identifiers>
          <isin value="US46648KAU07"/>
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        <valUSD>491877.10000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust, Series 2024-VIS2, Class A1</title>
        <cusip>46658DAA7</cusip>
        <identifiers>
          <isin value="US46658DAA72"/>
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        <balance>1250629.77000000</balance>
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        <valUSD>1251417.42000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.85299880</annualizedRt>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
        <lei>529900CBDGTUOOQONB64</lei>
        <title>J.P. Morgan Mortgage Trust, Series 2025-VIS1, Class A1</title>
        <cusip>46659BAC6</cusip>
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          <isin value="US46659BAC63"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US48128BAT89"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Keurig Dr Pepper, Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper, Inc.</title>
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          <isin value="US49271VAJ98"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Keurig Dr Pepper, Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KeyCorp</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KeyCorp</title>
        <cusip>49326EEN9</cusip>
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          <isin value="US49326EEN94"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KIND Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>KIND Commercial Mortgage Trust, Series 2024-1, Class A</title>
        <cusip>494925AA8</cusip>
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          <isin value="US494925AA88"/>
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        <balance>750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kyndryl Holdings, Inc.</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings, Inc.</title>
        <cusip>50155QAJ9</cusip>
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        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LBTY Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LBTY Commercial Mortgage Trust, Series 2026-225L, Class A</title>
        <cusip>50178LAA2</cusip>
        <identifiers>
          <isin value="US50178LAA26"/>
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        <balance>2450000.00000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.59326160</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LBTY Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>LBTY Commercial Mortgage Trust, Series 2026-225L, Class B</title>
        <cusip>50178LAC8</cusip>
        <identifiers>
          <isin value="US50178LAC81"/>
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        <name>Las Vegas Sands Corp.</name>
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        <name>LEX Mortgage Trust</name>
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        <name>Lowe's Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Bank Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Motorola Solutions, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NRG Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NXP BV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>NXP BV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>NYC Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>National Rural Utilities Cooperative Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Northwest Pipeline LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>OHA Credit Funding 7 Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
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        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OHA Credit Funding 15-R Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NYC Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chord Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Occidental Petroleum Corp.</name>
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        <title>Occidental Petroleum Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Octagon Investment Partners XXI Ltd.</name>
        <lei>549300XIS9D4AHDX5A35</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Octagon 57 Ltd.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ONE Gas, Inc.</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE Gas, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>One New York Plaza Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Province of Ontario Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>Province of Ontario</title>
        <cusip>683234AQ1</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.05000000</annualizedRt>
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        <name>Province of Ontario Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>Province of Ontario</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.12500000</annualizedRt>
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        <name>Regal Rexnord Corp.</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Republic of Serbia</name>
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        <name>United States of America</name>
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          <maturityDt>2034-06-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1982113208"/>
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        <balance>2370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2276791.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>91087BAP5</cusip>
        <identifiers>
          <isin value="XS2280637039"/>
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        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>751800.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2071-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Romania</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2756521303"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3501565.34000000</valUSD>
        <pctVal>0.257282450052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Galaxy Pipeline Assets Bidco Ltd.</name>
        <lei>549300L82YB0C6JQIC26</lei>
        <title>Galaxy Pipeline Assets Bidco Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2249741245"/>
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        <balance>2770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2368587.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</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>Magyarorszag</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2574267188"/>
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        <balance>940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>958852.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>Penta CLO DAC</name>
        <lei>635400GBGDCFEEAL3O62</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3019792665"/>
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        <balance>1740000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.08099960</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>Magyarorszag</name>
        <lei>5299003F3UFKGCCMAP43</lei>
        <title>Hungary Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3101499260"/>
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        <balance>1380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1404636.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic of Indonesia</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>Republic of Indonesia</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3307444482"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>1386566.82000000</valUSD>
        <pctVal>0.101879951956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</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>Czech Repub. Kronas</name>
        <lei>N/A</lei>
        <title>Czech Repub. Kronas</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="ISO Currency code" value="CZK"/>
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        <balance>0.87000000</balance>
        <units>OU</units>
        <descOthUnits>Currencies</descOthUnits>
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        <invCountry>CZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Schatz</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F3A9EV9"/>
          <other otherDesc="Future Ticker" value="DUU6 Comdty"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
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        <assetCat>DIR</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="DUU6 Comdty"/>
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      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="FVU6COM"/>
          <other otherDesc="Future Ticker" value="FVU6 Comdty"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DIR</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <ticker value="FVU6 Comdty"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Long Gilt</title>
        <cusip>N/A</cusip>
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          <isin value="GB00N8ZJ8230"/>
          <other otherDesc="Future Ticker" value="G U6 Comdty"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.74197737"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Clear Europe</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <ticker value="G U6 Comdty"/>
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      <invstOrSec>
        <name>British Pound</name>
        <lei>N/A</lei>
        <title>British Pound</title>
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          <other otherDesc="ISO Currency code" value="GBP"/>
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        <balance>3018.74000000</balance>
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        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="GBP" exchangeRt="0.74197737"/>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hong Kong Dollar</name>
        <lei>N/A</lei>
        <title>Hong Kong Dollar</title>
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          <other otherDesc="ISO Currency code" value="HKD"/>
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        <balance>0.63000000</balance>
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        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="HKD" exchangeRt="7.84240000"/>
        <valUSD>0.08000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign currencies" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japanese Yen</name>
        <lei>N/A</lei>
        <title>Japanese Yen</title>
        <cusip>N/A</cusip>
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          <other otherDesc="ISO Currency code" value="JPY"/>
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        <balance>-3.00000000</balance>
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        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="JPY" exchangeRt="159.10500000"/>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign currencies" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>New Mexican Pesos</name>
        <lei>N/A</lei>
        <title>New Mexican Pesos</title>
        <cusip>N/A</cusip>
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        <balance>0.63000000</balance>
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        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="MXN" exchangeRt="17.31950000"/>
        <valUSD>0.04000000</valUSD>
        <pctVal>0.000000002939</pctVal>
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        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign currencies" issuerCat="OTHER"/>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bobl</title>
        <cusip>N/A</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Henley CLO XVII DAC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Polish Zloty - New</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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          <isin value="GB00JH7F7859"/>
          <other otherDesc="Future Ticker" value="SFIM7 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE Clear Europe</counterpartyName>
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        <name>N/A</name>
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          <isin value="GB00JBVNLX64"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>Singapore Dollar</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="TUU6COM"/>
          <other otherDesc="Future Ticker" value="TUU6 Comdty"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="TYU6COS"/>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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          <isin value="DE000F3A9EW7"/>
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      <invstOrSec>
        <name>Ares European CLO XXI DAC</name>
        <lei>254900REPQKNP1XRDH75</lei>
        <title>Ares European CLO XXI DAC, Series 21A, Class B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2988590761"/>
        </identifiers>
        <balance>680000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>783680.92000000</valUSD>
        <pctVal>0.057582060472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.13100000</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>Sound Point Euro CLO 14 Funding DAC</name>
        <lei>635400MRPPDDKPZD8B91</lei>
        <title>Sound Point Euro CLO 14 Funding DAC, Series 14A, Class B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2997433227"/>
        </identifiers>
        <balance>1400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>1609570.00000000</valUSD>
        <pctVal>0.118265425008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.08499920</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>CVC Cordatus Loan Fund III DAC</name>
        <lei>213800XV458LVR3TU384</lei>
        <title>CVC Cordatus Loan Fund III DAC, Series 3A, Class B1R3</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3015758660"/>
        </identifiers>
        <balance>1700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86718987"/>
        <valUSD>1960576.52000000</valUSD>
        <pctVal>0.144056123933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.84500160</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>N/A</name>
        <lei>N/A</lei>
        <title>Australia 3 Year Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="YMU6COM"/>
          <other otherDesc="Future Ticker" value="YMU6 Comdty"/>
        </identifiers>
        <balance>9.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.42116109"/>
        <valUSD>925.92000000</valUSD>
        <pctVal>0.000068033277</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ASX Clear (Futures)</counterpartyName>
              <counterpartyLei>549300ZD7BBOVZFVHK49</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Australia 3 Year Bond</issueTitle>
                <identifiers>
                  <ticker value="YMU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-15</expDate>
            <notionalAmt>937748.97000000</notionalAmt>
            <curCd>AUD</curCd>
            <unrealizedAppr>925.92000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>South African Rand</name>
        <lei>N/A</lei>
        <title>South African Rand</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="ISO Currency code" value="ZAR"/>
        </identifiers>
        <balance>379.48000000</balance>
        <units>OU</units>
        <descOthUnits>Currencies</descOthUnits>
        <currencyConditional curCd="ZAR" exchangeRt="16.52125000"/>
        <valUSD>22.97000000</valUSD>
        <pctVal>0.000001687753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign currencies" issuerCat="OTHER"/>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Nationwide Mutual Funds</ncom:nameOfApplicant>
      <ncom:signature>David Majewski</ncom:signature>
      <ncom:signerName>David Majewski</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
