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      <invstOrSec>
        <name>Skandinaviska Enskilda Banken AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CPS Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
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          <isin value="US35564KWS40"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Consolidated Edison Co. of New York, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs</title>
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          <isin value="US3137HPV423"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>529900MBUPRSJMB6GN48</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.03539000</annualizedRt>
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      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
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          <isin value="US04685A4M05"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-06</maturityDt>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5493000ISA3AUOXQEF68</lei>
        <title>Freddie Mac, Series 2022-DNA2, Class M1</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5493000ISU5NYXNHD479</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-25</maturityDt>
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        <name>Banco Santander S.A.</name>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CPS Auto Receivables Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5299002OYNAPMJKK2A73</lei>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.81600000</annualizedRt>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <cusip>20754NAK1</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.46608000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280FN4</cusip>
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          <isin value="US404280FN45"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7551580.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.85777900</annualizedRt>
          <isDefault>N</isDefault>
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        <fairValLevel>2</fairValLevel>
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        <name>Banque Federative du Credit Mutuel</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sonic Capital LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Affirm Asset Securitization Trust 2025-X1</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mission Lane Credit Card Master Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp., ARM</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>529900XX8WXEM4FBIH80</lei>
        <title>Freddie Mac, Series 2025-DNA2, Class A1</title>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Floating Rate Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Floating Rate Notes</title>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5493000ISBDRXIMCHZ70</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05612EAA64"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ING Groep N.V.</name>
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        <title>ING Groep N.V.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <cusip>20754YAA9</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2022-R07, Class 1M1</title>
        <cusip>20754MBZ9</cusip>
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        <balance>716347.20000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.56600000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc.</title>
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          <isin value="US17327CAX11"/>
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        <curCd>USD</curCd>
        <valUSD>3281836.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.51860800</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XES1</cusip>
        <identifiers>
          <isin value="US37045XES18"/>
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        <balance>6500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6531514.41000000</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>2027-05-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.97742600</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MED Commercial Mortgage Trust 2024-MOB</name>
        <lei>N/A</lei>
        <title>MED Commercial Mortgage Trust 2024-MOB, Series 2024-MOB, Class A</title>
        <cusip>55287BAA1</cusip>
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          <isin value="US55287BAA17"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4939455.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Banco Santander S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander S.A.</title>
        <cusip>05964HBE4</cusip>
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          <isin value="US05964HBE45"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5027633.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.77566400</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc.</title>
        <cusip>172967NH0</cusip>
        <identifiers>
          <isin value="US172967NH04"/>
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        <balance>6077000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6103174.19000000</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>2028-02-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.92011700</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>N/A</lei>
        <title>OBX Trust, Series 2020-INV1, Class A11</title>
        <cusip>67113CAL0</cusip>
        <identifiers>
          <isin value="US67113CAL00"/>
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        <balance>150302.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147238.67000000</valUSD>
        <pctVal>0.007999431497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.66282000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs</title>
        <cusip>3137ATEJ7</cusip>
        <identifiers>
          <isin value="US3137ATEJ75"/>
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        <balance>100682.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100108.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-APCP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.24000000</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>Freddie Mac</name>
        <lei>5493000IS30HKV5IAS29</lei>
        <title>Freddie Mac, Series 2022-DNA6, Class M1</title>
        <cusip>35564KH36</cusip>
        <identifiers>
          <isin value="US35564KH362"/>
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        <balance>252384.90000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252710.58000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.76608000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Banco Santander S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander S.A.</title>
        <cusip>05971KAU3</cusip>
        <identifiers>
          <isin value="US05971KAU34"/>
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        <balance>6200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6243106.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.64566400</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000IRILHAKSCHN59</lei>
        <title>Freddie Mac, Series 2023-DNA1, Class M1</title>
        <cusip>35564KP37</cusip>
        <identifiers>
          <isin value="US35564KP373"/>
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        <balance>11444879.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11566337.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.71674000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2024-A, Class A1B</title>
        <cusip>831943AB1</cusip>
        <identifiers>
          <isin value="US831943AB13"/>
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        <balance>7232762.05000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7293548.35000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.07539000</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>Huntington National Bank (The)</name>
        <lei>2WHM8VNJH63UN14OL754</lei>
        <title>Huntington National Bank (The)</title>
        <cusip>44644MAL5</cusip>
        <identifiers>
          <isin value="US44644MAL54"/>
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        <balance>3103000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3104179.70000000</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>2028-04-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.37644100</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>Freddie Mac</name>
        <lei>529900ZTXRUUVE8G8W08</lei>
        <title>Freddie Mac, Series 2023-HQA3, Class M2</title>
        <cusip>35564NAA1</cusip>
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          <isin value="US35564NAA19"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6237611.40000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.96600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2025-R04, Class 1M1</title>
        <cusip>20755TAB7</cusip>
        <identifiers>
          <isin value="US20755TAB70"/>
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        <balance>4659737.53370000</balance>
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        <curCd>USD</curCd>
        <valUSD>4664319.92000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81600000</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>Daimler Truck Finance North America LLC</name>
        <lei>5493003HSDTSCZRXBA58</lei>
        <title>Daimler Truck Finance North America LLC</title>
        <cusip>233853AX8</cusip>
        <identifiers>
          <isin value="US233853AX89"/>
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        <balance>4250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4268491.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WBHT Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WBHT Commercial Mortgage Trust, Series 2025-WBM, Class B</title>
        <cusip>92943QAC3</cusip>
        <identifiers>
          <isin value="US92943QAC33"/>
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        <balance>7565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7560594.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.86802000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000KIGZAWUOW4E32</lei>
        <title>Freddie Mac, Series 2023-HQA2, Class M1</title>
        <cusip>35564K2G3</cusip>
        <identifiers>
          <isin value="US35564K2G38"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2569004.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.96600000</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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        <name>Freddie Mac Multifamily Structured Pass Through Ctfs.</name>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Agricole S.A.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NTT Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ABN AMRO Bank N.V.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SCG 2026-PALM Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs</title>
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          <isin value="US3137HKQD95"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs</title>
        <cusip>3136BULR9</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Mission Lane Credit Card Master Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered PLC</name>
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        <title>Standard Chartered PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>BX Trust</name>
        <lei>N/A</lei>
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          <isin value="US05619PAC05"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Mello Mortgage Capital Acceptance Trust</name>
        <lei>N/A</lei>
        <title>Mello Mortgage Capital Acceptance Trust, Series 2021-INV2, Class A1</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac Multifamily Structured Pass Through Ctfs.</name>
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        <cusip>3137H9QW2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5493000ISONLNOUKGB71</lei>
        <title>Freddie Mac, Series 2021-DNA6, Class M2</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>529900XX8WXEM4FBIH80</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.81600000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2023-R08, Class 1M1</title>
        <cusip>20755CAA6</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.11600000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Corebridge Global Funding</name>
        <lei>54930057MDZ7KOVOTV71</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EFMT 2026-NQM7</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>254900J0PZAB9KZBPX66</lei>
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          <isin value="US362934AA94"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust 2024-He2</name>
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          <isin value="US46593HAB42"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SREIT Trust 2021-MFP2</name>
        <lei>N/A</lei>
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          <isin value="US85236WCG96"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>KRE Commercial Mortgage Trust 2025-AIP4</name>
        <lei>N/A</lei>
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        <cusip>50077KAA6</cusip>
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          <isin value="US50077KAA60"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Connecticut Avenue Securities Series 2025-R01</name>
        <lei>N/A</lei>
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        <cusip>20755JAA1</cusip>
        <identifiers>
          <isin value="US20755JAA16"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association, ARM</title>
        <cusip>3622AC2R0</cusip>
        <identifiers>
          <isin value="US3622AC2R07"/>
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        <balance>2038075.80000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2026-CSMO, Class A</title>
        <cusip>12433LAA3</cusip>
        <identifiers>
          <isin value="US12433LAA35"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>529900N6M839KA246662</lei>
        <title>Freddie Mac, Series 2024-DNA1, Class M2</title>
        <cusip>35564NBA0</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association, ARM</title>
        <cusip>31410KQS6</cusip>
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        <balance>344348.10000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2024-R05, Class 2M2</title>
        <cusip>20754XAC7</cusip>
        <identifiers>
          <isin value="US20754XAC74"/>
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        <balance>7516844.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>529900ZTXRUUVE8G8W08</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-25</maturityDt>
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          <annualizedRt>5.46600000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac Multifamily Structured Pass Through Ctfs.</name>
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        <title>Freddie Mac Multifamily Structured Pass Through Ctfs., Series KF158, Class AS</title>
        <cusip>3137HADA1</cusip>
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        <curCd>USD</curCd>
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        <assetCat>ABS-APCP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PEF9</cusip>
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        <balance>7500000.00000000</balance>
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        <valUSD>7525715.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.58451300</annualizedRt>
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      <invstOrSec>
        <name>Societe Generale</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale</title>
        <cusip>83368RCJ9</cusip>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4035328.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.05894400</annualizedRt>
          <isDefault>N</isDefault>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526CN7</cusip>
        <identifiers>
          <isin value="US251526CN70"/>
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        <balance>4050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4058153.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.85024700</annualizedRt>
          <isDefault>N</isDefault>
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        <name>Fannie Mae REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BRAVO Residential Funding Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corebridge Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Holdings USA, Inc.</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>Bank of Nova Scotia (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SMB Private Education Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <cusip>20753CAA8</cusip>
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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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        <name>Volkswagen Group of America Finance, LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Freddie Mac</name>
        <lei>5299002728NGTS7IC376</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Student Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westlake Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5493000IS4M3TZMRB410</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</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>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SREIT Trust 2021-MFP2</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Floating Rate Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SMB Private Education Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
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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>Federal Home Loan Mortgage Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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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>Bank of Montreal</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp., ARM</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bear Stearns Adjustable Rate Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jackson National Life Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs</title>
        <cusip>3136BUCK4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
        <lei>254900ZFKOWCY24MSQ94</lei>
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        <cusip>034936AA2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>ABN AMRO Bank N.V.</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank N.V.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SCG Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank, N.A.</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>MFA 2025-NQM5 Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank, N.A.</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
        <title>Morgan Stanley Bank, N.A.</title>
        <cusip>61690U8C7</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2019-B, Class A2B</title>
        <cusip>83192CAC1</cusip>
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          <isin value="US83192CAC10"/>
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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>Athene Global Funding</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac Multifamily Structured Pass Through Ctfs.</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>Macquarie Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nationwide Building Society</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <title>Hyundai Capital America</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>MILE Trust</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A3U3</cusip>
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          <isin value="US04685A3U30"/>
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        <balance>5000000.00000000</balance>
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        <valUSD>5014939.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust</name>
        <lei>529900UNQTJFSNGLF721</lei>
        <title>Chase Home Lending Mortgage Trust, Series 2025-1, Class A11</title>
        <cusip>16160TAX6</cusip>
        <identifiers>
          <isin value="US16160TAX63"/>
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        <balance>3538226.09000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3530653.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81608000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000ISA3AUOXQEF68</lei>
        <title>Freddie Mac, Series 2022-DNA2, Class M2</title>
        <cusip>35564KRN1</cusip>
        <identifiers>
          <isin value="US35564KRN18"/>
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        <balance>13846000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14057559.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.36608000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>529900N6M839KA246662</lei>
        <title>Freddie Mac, Series 2024-DNA1, Class A1</title>
        <cusip>35564NAW3</cusip>
        <identifiers>
          <isin value="US35564NAW39"/>
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        <balance>885032.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>888985.08000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.96600000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000IS349P4O9HR58</lei>
        <title>Freddie Mac, Series 2022-DNA5, Class M2</title>
        <cusip>35564KYW3</cusip>
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          <isin value="US35564KYW34"/>
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        <balance>8500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8937670.10000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>10.36608000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust 2019-INV3</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust 2019-INV3, Series 2019-INV3, Class A1</title>
        <cusip>46591LBC4</cusip>
        <identifiers>
          <isin value="US46591LBC46"/>
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        <balance>56075.14000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55320.09000000</valUSD>
        <pctVal>0.003005523415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.83900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAG2</cusip>
        <identifiers>
          <isin value="US63861VAG23"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4013859.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.92124700</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Carmax Select Receivables Trust 2024-A</name>
        <lei>N/A</lei>
        <title>Carmax Select Receivables Trust 2024-A, Series 2024-A, Class C</title>
        <cusip>14319FAF0</cusip>
        <identifiers>
          <isin value="US14319FAF09"/>
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        <balance>1400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1416101.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62000000</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>Freddie Mac</name>
        <lei>5493000ISHRHX47NOH65</lei>
        <title>Freddie Mac, Series 2021-HQA3, Class M1</title>
        <cusip>35564KJG5</cusip>
        <identifiers>
          <isin value="US35564KJG58"/>
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        <balance>3753049.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3751041.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.46600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Invesco Private Prime Fund</name>
        <lei>N/A</lei>
        <title>Invesco Private Prime Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2487474"/>
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        <balance>16064944.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="16066550.49440000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association, ARM</title>
        <cusip>3140JBWP7</cusip>
        <identifiers>
          <isin value="US3140JBWP71"/>
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        <balance>1573640.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1636837.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.05600000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2025-R06, Class 1M1</title>
        <cusip>20754YAB7</cusip>
        <identifiers>
          <isin value="US20754YAB74"/>
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        <balance>3389624.63000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3386869.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.56600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2019-BWAY, Class B</title>
        <cusip>05492NAC7</cusip>
        <identifiers>
          <isin value="US05492NAC74"/>
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        <balance>3250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>153460.13000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.10048000</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>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Goldman Sachs Bank USA</title>
        <cusip>38151LAK6</cusip>
        <identifiers>
          <isin value="US38151LAK61"/>
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        <balance>6500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6509638.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.36795100</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
        <cusip>13607PVR2</cusip>
        <identifiers>
          <isin value="US13607PVR27"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5006185.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.37644100</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nelnet Student Loan Trust 2025-A</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust 2025-A, Series 2025-AA, Class A1B</title>
        <cusip>64033XAE4</cusip>
        <identifiers>
          <isin value="US64033XAE40"/>
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        <balance>1880772.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1874792.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.72539000</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>Societe Generale</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale</title>
        <cusip>83368RCA8</cusip>
        <identifiers>
          <isin value="US83368RCA86"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2008638.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Glencore Funding LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Glencore Funding LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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          <isin value="US123913AA38"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp., ARM</title>
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        <balance>1894508.80000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Pagaya AI Debt Selection Trust</name>
        <lei>N/A</lei>
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        <cusip>69545UAC4</cusip>
        <identifiers>
          <isin value="US69545UAC45"/>
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        <balance>7100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs</title>
        <cusip>3137FDD66</cusip>
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          <isin value="US3137FDD660"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2023-R05, Class 1M1</title>
        <cusip>207942AA1</cusip>
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          <isin value="US207942AA18"/>
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        <balance>858951.60000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.51600000</annualizedRt>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust 2020-5</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Navient Student Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2026-R02, Class 1M1</title>
        <cusip>20753EAC0</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.66600000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2022-R06, Class 1M1</title>
        <cusip>20754NAB1</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs</title>
        <cusip>3136ART24</cusip>
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          <isin value="US3136ART248"/>
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        <balance>155966.91000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.23056000</annualizedRt>
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      <invstOrSec>
        <name>F&amp;G Global Funding</name>
        <lei>6354009CCUKJIZ7KFX73</lei>
        <title>F&amp;G Global Funding</title>
        <cusip>30321L2L5</cusip>
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          <isin value="US30321L2L54"/>
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        <balance>7250000.00000000</balance>
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        <valUSD>7280734.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-08</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
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        <cusip>68269HAE5</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>U.S. Treasury Floating Rate Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Floating Rate Notes</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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          <isin value="US35564KYN35"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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          <isin value="US60687YDY23"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLI Funding VI LLC</name>
        <lei>549300NQLBWJD5AREU05</lei>
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          <isin value="US12563LAS60"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US16159TAP66"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nextgear Floorplan Master Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>USB Realty Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corebridge Global Funding</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</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>Adjustable Rate Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OBX Trust</name>
        <lei>N/A</lei>
        <title>OBX Trust, Series 2019-INV2, Class A11</title>
        <cusip>67112VAL9</cusip>
        <identifiers>
          <isin value="US67112VAL99"/>
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        <balance>2115993.23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2087817.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.71282000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Residential Mortgage Loan Trust 2024-4</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Residential Mortgage Loan Trust 2024-4, Series 2024-4, Class AF</title>
        <cusip>61777BBQ0</cusip>
        <identifiers>
          <isin value="US61777BBQ05"/>
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        <balance>2759250.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2765061.74000000</valUSD>
        <pctVal>0.150224950919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.96608000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>529900PGKDI4ZEXFQ523</lei>
        <title>Freddie Mac, Series 2024-HQA1, Class A1</title>
        <cusip>35564NBW2</cusip>
        <identifiers>
          <isin value="US35564NBW20"/>
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        <balance>8695208.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8725808.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Commonbond Student Loan Trust</name>
        <lei>5493005PJR3MYTKJFJ48</lei>
        <title>Commonbond Student Loan Trust, Series 2018-AGS, Class A2</title>
        <cusip>20269DAB1</cusip>
        <identifiers>
          <isin value="US20269DAB10"/>
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        <balance>120684.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119830.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.33900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>529900PGKDI4ZEXFQ523</lei>
        <title>Freddie Mac, Series 2024-HQA1, Class M1</title>
        <cusip>35564NBX0</cusip>
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          <isin value="US35564NBX03"/>
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        <balance>897169.74000000</balance>
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        <curCd>USD</curCd>
        <valUSD>897843.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000IRI80KQJUNK40</lei>
        <title>Freddie Mac, Series 2023-DNA2, Class M1</title>
        <cusip>35564KT66</cusip>
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          <isin value="US35564KT664"/>
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        <balance>9268982.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9602465.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.86600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2022-R02, Class 2M2</title>
        <cusip>20754BAB7</cusip>
        <identifiers>
          <isin value="US20754BAB71"/>
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        <balance>12870285.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12990559.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.61600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Banque Federative du Credit Mutuel</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel</title>
        <cusip>06675DCV2</cusip>
        <identifiers>
          <isin value="US06675DCV29"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7507779.83000000</valUSD>
        <pctVal>0.407895360945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.47564100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONE Trust 2024-DFW1</name>
        <lei>N/A</lei>
        <title>CONE Trust 2024-DFW1, Series 2024-DFW1, Class A</title>
        <cusip>20682AAA8</cusip>
        <identifiers>
          <isin value="US20682AAA88"/>
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        <balance>6370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6348103.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.31810000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Rate Mortgage Trust, Series 2025-J3, Class A27</title>
        <cusip>75410EBC8</cusip>
        <identifiers>
          <isin value="US75410EBC84"/>
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        <balance>4436586.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4452889.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16608000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000IS4CDPWRMWB65</lei>
        <title>Freddie Mac, Series 2022-DNA4, Class M2</title>
        <cusip>35564KXA2</cusip>
        <identifiers>
          <isin value="US35564KXA23"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10342734.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.86608000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738ECM5</cusip>
        <identifiers>
          <isin value="US06738ECM57"/>
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        <balance>2750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2754428.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.53065000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000ISOMSKCX2AW62</lei>
        <title>Freddie Mac, Series 2021-DNA7, Class M2</title>
        <cusip>35564KMH9</cusip>
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          <isin value="US35564KMH94"/>
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        <balance>2610527.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2618133.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.41608000</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>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs</title>
        <cusip>3136BSP25</cusip>
        <identifiers>
          <isin value="US3136BSP259"/>
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        <balance>5197763.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5233507.51000000</valUSD>
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        <assetCat>ABS-APCP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81608000</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>Nelnet Student Loan Trust 2014-3</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust 2014-3, Series 2014-3A, Class A</title>
        <cusip>64033KAA0</cusip>
        <identifiers>
          <isin value="US64033KAA07"/>
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        <balance>431732.36000000</balance>
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        <curCd>USD</curCd>
        <valUSD>428487.93000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.31100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BPCE S.A.</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE S.A.</title>
        <cusip>05571AAP0</cusip>
        <identifiers>
          <isin value="US05571AAP03"/>
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        <balance>6250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6268778.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.64197300</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>Nationwide Building Society</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAQ0</cusip>
        <identifiers>
          <isin value="US63861VAQ05"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10047839.20000000</valUSD>
        <pctVal>0.545896002548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.66472300</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association, ARM</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
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          <isin value="US62954WBD65"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <cusip>20754AAB9</cusip>
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          <isin value="US20754AAB98"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
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          <isin value="US83207DAB47"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ING Groep N.V.</name>
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        <title>ING Groep N.V.</title>
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          <isin value="US456837BP78"/>
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        <curCd>USD</curCd>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRAVO Residential Funding Trust</name>
        <lei>254900FT8BRLS72Z3K14</lei>
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          <isin value="US10570WAD02"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Invesco Government &amp; Agency Portfolio</name>
        <lei>5493007T1J7WZ5QI1A47</lei>
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        <cusip>825252885</cusip>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association, ARM</title>
        <cusip>31405RF84</cusip>
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          <isin value="US31405RF841"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHRN Trust 2025-MF18</name>
        <lei>N/A</lei>
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        <cusip>82556AAA1</cusip>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
        <lei>5493000IS30HKV5IAS29</lei>
        <title>Freddie Mac, Series 2022-DNA6, Class M1</title>
        <cusip>35564KH44</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Georgia Power Co.</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>Georgia Power Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>5493000IRLADKYZNON28</lei>
        <title>Freddie Mac, Series 2022-HQA2, Class M1</title>
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          <isin value="US35564KB241"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc.</title>
        <cusip>49271VAY6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <cusip>207932AB0</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-25</maturityDt>
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          <annualizedRt>7.36608000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2023-R03, Class 2M2</title>
        <cusip>20753AAA2</cusip>
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          <isin value="US20753AAA25"/>
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        <balance>4046476.00000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-25</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Merrill Lynch Mortgage Investors Trust</name>
        <lei>N/A</lei>
        <title>Merrill Lynch Mortgage Investors Trust, Series 2003-F, Class A1</title>
        <cusip>5899292M9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Navient Private Education Refi Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BX Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage-Backed Securities Trust</name>
        <lei>254900RIVK2GCJ08H839</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Cross 2024-H7 Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hewlett Packard Enterprise 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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        <name>Ford Credit Auto Lease Trust</name>
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        <name>Deutsche Bank AG</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>J.P. Morgan Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Floating Rate Notes</name>
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          <isin value="US91282CNQ05"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fidelity National Information Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LPL Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Edsouth Indenture No. 9 LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Structured Agency Credit Risk 2026-DNA1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NRTH Commercial Mortgage Trust 2025-PARK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX 2026-HE2 Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Hertz Vehicle Financing III L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>OBX Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hotwire Funding LLC</name>
        <lei>254900ZCO90MCT7Y9348</lei>
        <title>Hotwire Funding LLC, Series 2021-1, Class B</title>
        <cusip>44148JAB5</cusip>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HPEFS Equipment Trust</name>
        <lei>N/A</lei>
        <title>HPEFS Equipment Trust, Series 2023-2A, Class D</title>
        <cusip>44328UAF3</cusip>
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          <isin value="US44328UAF30"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2026-R03, Class 2M2</title>
        <cusip>20754UAC3</cusip>
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          <isin value="US20754UAC36"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1510997.85000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.16608000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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          <isin value="US78017FZU01"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200851.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.52197300</annualizedRt>
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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="US46647PEM41"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5026075.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.59451300</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 2024-VLT4, Class A</title>
        <cusip>05612TAA3</cusip>
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          <isin value="US05612TAA34"/>
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        <balance>4797500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Chase Commercial Mortgage Securities Trust, Series 2018-PHH, Class B</title>
        <cusip>46650FAG7</cusip>
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          <isin value="US46650FAG72"/>
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        <balance>2385000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.18300000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2024-R03, Class 2M2</title>
        <cusip>207941AB1</cusip>
        <identifiers>
          <isin value="US207941AB18"/>
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        <balance>9173000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9249538.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.56600000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2022-R08, Class 1M2</title>
        <cusip>20755DAB2</cusip>
        <identifiers>
          <isin value="US20755DAB29"/>
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        <balance>8290000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.21608000</annualizedRt>
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      <invstOrSec>
        <name>Bear Stearns Adjustable Rate Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns Adjustable Rate Mortgage Trust, Series 2003-7, Class 6A</title>
        <cusip>07384MYW6</cusip>
        <identifiers>
          <isin value="US07384MYW62"/>
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        <balance>51572.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50164.19000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.44370000</annualizedRt>
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      <invstOrSec>
        <name>Mitsubishi Ufj Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi Ufj Financial Group, Inc.</title>
        <cusip>606822EE0</cusip>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4999984.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.50299100</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
        <title>Fannie Mae Connecticut Avenue Securities, Series 2023-R07, Class 2M1</title>
        <cusip>20753BAA0</cusip>
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          <isin value="US20753BAA08"/>
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        <balance>2650074.91000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.56608000</annualizedRt>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2024-F, Class A1B</title>
        <cusip>83207VAB4</cusip>
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          <isin value="US83207VAB45"/>
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        <balance>5523625.64000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.62539000</annualizedRt>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust, Series 2024-5, Class A11</title>
        <cusip>46658RAP3</cusip>
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          <isin value="US46658RAP38"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86600000</annualizedRt>
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      <invstOrSec>
        <name>Nelnet Student Loan Trust</name>
        <lei>N/A</lei>
        <title>Nelnet Student Loan Trust, Series 2021-A, Class A2</title>
        <cusip>64035DAC0</cusip>
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          <isin value="US64035DAC02"/>
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        <balance>9125000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.81400000</annualizedRt>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>25160PAP2</cusip>
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          <isin value="US25160PAP27"/>
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        <balance>6597000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6622908.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.86596900</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2022-B, Class A1B</title>
        <cusip>83206NAB3</cusip>
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          <isin value="US83206NAB38"/>
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        <balance>1933748.71000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-16</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Research-Driven Pagaya Motor AssetTrust 2026-4</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust 2020-LTV1</name>
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        <cusip>46591NBC0</cusip>
        <identifiers>
          <isin value="US46591NBC02"/>
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        <curCd>USD</curCd>
        <valUSD>578.54000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Societe Generale</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Commonbond Student Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>Chase Home Lending Mortgage Trust</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Connecticut Avenue Securities</name>
        <lei>N/A</lei>
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        <cusip>20754GAE0</cusip>
        <identifiers>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICs</name>
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        <title>Freddie Mac REMICs</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Protective Life Global Funding</name>
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        <title>Protective Life Global Funding</title>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Bank N.A.</name>
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        <fairValLevel>2</fairValLevel>
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    <signature>
      <ncom:dateSigned>2026-08-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Actively Managed Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
