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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>APA Infrastructure Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AREIT Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>AREIT LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Acore Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ACREC Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ACRES Commercial Realty Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AerCap Ireland Capital DAC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Adventist Health System</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Affirm Master Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alaska Industrial Development &amp; Export Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alcon Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alimentation Couche-Tard, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alimentation Couche-Tard, Inc.</name>
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        <title>Alimentation Couche-Tard, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Arbor Realty Commercial Real Estate Notes LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ARDN Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AREIT Trust</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Argentine Republic (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ARI Fleet Lease Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arrow Electronics, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ashtead Capital, Inc.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>213800J1134IW58IC398</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Aspire Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AutoNation, Inc.</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>Barclays Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BDS LLC</name>
        <lei>N/A</lei>
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        <name>BBCMS Mortgage Trust</name>
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        <name>BXMT Ltd.</name>
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        <name>BSPRT Issuer LLC</name>
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        <name>Bacardi Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bacardi Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays plc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BDS LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bayview Financial Revolving Asset Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BBVA Mexico SA Institucion de Banca Multiple Grupo Financiero BBVA Mexico</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Beach Acquisition Bidco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Beacon Point DC LLC</name>
        <lei>2549003M920HKF2V5011</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Benchmark Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Benchmark Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Benchmark Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2025-V18, Class AS</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</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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        <name>Black Diamond CLO Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co. (The)</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>Bombardier, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Booz Allen Hamilton, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boston Gas Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Boston Properties LP</name>
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        <name>Village of Bridgeview IL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brixmor Operating Partnership LP</name>
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        <title>Brixmor Operating Partnership LP</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital One Financial Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CarMax Select Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cathedral Lake VI Ltd.</name>
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        <name>Cellnex Finance Co. SA</name>
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        <name>Chemours Co. (The)</name>
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        <name>Cheniere Energy Partners LP</name>
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        <name>Eni SpA</name>
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        <name>Eagle Funding Luxco Sarl</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Eldorado Gold Corp.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Electricite de France SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Empire District Bondco LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ENEL Finance International NV</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EQT Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Escambia County Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fortescue Treasury Pty. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GreatAmerica Leasing Receivables Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Harbor Park CLO Ltd.</name>
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        <name>HUB International Ltd.</name>
        <lei>549300JQT6ATTUNS5E06</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HUB International Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Jersey Mike's Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KKR Static CLO I Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>KREF Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Kentucky Higher Education Student Loan Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Las Vegas Sands Corp.</name>
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        <name>Las Vegas Sands Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Nippon Life Insurance Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nomura Holdings, Inc.</name>
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        <name>Northern Star Resources Ltd.</name>
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        <name>OCP SA</name>
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        <name>OZLM Funding II Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Occidental Petroleum Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Octagon 57 Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Park Avenue Institutional Advisers CLO Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Petroleos Mexicanos</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PFP Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Philip Morris International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Romania</name>
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        <isRestrictedSec>Y</isRestrictedSec>
        
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TransDigm, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2J1</cusip>
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          <isin value="US95000U2J10"/>
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        <valUSD>5078591.32000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>2.57200000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2U6</cusip>
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          <isin value="US95000U2U64"/>
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        <valUSD>23713420.85000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U3E1</cusip>
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          <isin value="US95000U3E14"/>
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        <balance>3333000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3383315.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2017-C42, Class A4</title>
        <cusip>95001GAE3</cusip>
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          <isin value="US95001GAE35"/>
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        <balance>3490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3417585.99000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.58900000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300AGZIS1CJS4RM30</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2018-C44, Class A5</title>
        <cusip>95001JAX5</cusip>
        <identifiers>
          <isin value="US95001JAX54"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1477324.65000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.21200000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Westinghouse Air Brake Technologies Corp.</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>Westinghouse Air Brake Technologies Corp.</title>
        <cusip>960386AM2</cusip>
        <identifiers>
          <isin value="US960386AM29"/>
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        <curCd>USD</curCd>
        <valUSD>7523450.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000160</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>Wynn Macau Ltd.</name>
        <lei>254900NMDQ8ENTHU1I31</lei>
        <title>Wynn Macau Ltd.</title>
        <cusip>98313RAL0</cusip>
        <identifiers>
          <isin value="US98313RAL06"/>
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        <balance>14373000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14129243.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>Y</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Engie Energia Chile SA</name>
        <lei>5493000FIKCC3ZDWTO77</lei>
        <title>Engie Energia Chile SA</title>
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          <isin value="USP3762TAA99"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3741544.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Republic of Angola</name>
        <lei>549300QHR2R3J8JSGK83</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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        <name>Arab Republic of Egypt</name>
        <lei>529900GFIVH4086NMH82</lei>
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          <isin value="XS2391395154"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
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      <invstOrSec>
        <name>Federal Republic of Nigeria</name>
        <lei>549300GSBZD84TNEQ285</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS2384701020"/>
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        <curCd>USD</curCd>
        <valUSD>17019927.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>NG</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <name>Banco Mercantil del Norte SA</name>
        <lei>549300QTVYRPFHS0J362</lei>
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          <isin value="USP1401KAB72"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Republic of Turkiye (The)</name>
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        <invCountry>TR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 2 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="TUU6COM"/>
          <other otherDesc="Future Ticker" value="TUU6 Comdty"/>
        </identifiers>
        <balance>5550.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3291635.20000000</valUSD>
        <pctVal>-0.03958540373</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 2 Year Note</issueTitle>
                <identifiers>
                  <ticker value="TUU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-30</expDate>
            <notionalAmt>1141132036.80000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-3291635.20000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Ultra Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="UXYU6CM"/>
          <other otherDesc="Future Ticker" value="UXYU6 Comdty"/>
        </identifiers>
        <balance>-104.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>136927.96000000</valUSD>
        <pctVal>0.001646703917</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 10 Year Ultra Note</issueTitle>
                <identifiers>
                  <ticker value="UXYU6 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2026-09-21</expDate>
            <notionalAmt>-11409125.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>136927.96000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust VIII</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
