<SEC-DOCUMENT>0001886878-25-000029.txt : 20250829
<SEC-HEADER>0001886878-25-000029.hdr.sgml : 20250829
<ACCEPTANCE-DATETIME>20250829105042
ACCESSION NUMBER:		0001886878-25-000029
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250630
FILED AS OF DATE:		20250829
DATE AS OF CHANGE:		20250829
PERIOD START:           	20250630

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO Access Income Fund
		CENTRAL INDEX KEY:			0001886878
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			MA

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-23749
		FILM NUMBER:		251277544

	BUSINESS ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(844) 337-4626

	MAIL ADDRESS:	
		STREET 1:		1633 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>SYNIVERSE HOLDINGS LLC</name>
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        <curCd>USD</curCd>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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              <counterpartyName>BNP PARIBAS</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>ALTICE FRANCE SA SR SECURED 144A 02/27 8.125</title>
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          <isin value="US02156LAA98"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GREENSKY HOME IMPROVEMENT TRUST 2024-1</name>
        <lei>N/A</lei>
        <title>GREENSKY HOME IMPROVEMENT ISSU GSKY 2024 1 D 144A</title>
        <cusip>39571MAH1</cusip>
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          <isin value="US39571MAH16"/>
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        <curCd>USD</curCd>
        <valUSD>519530.600000</valUSD>
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        <debtSec>
          <maturityDt>2059-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATURE COAST RE LTD</name>
        <lei>N/A</lei>
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          <isin value="US63901CAE12"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
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        <debtSec>
          <maturityDt>2033-04-10</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RFR USD SOFR/1.75000 06/15/22-30Y CME</title>
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          <isin value="EZ2TNCR649W7"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>9410794.880000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal ID" value="25FPKBB6LSW"/>
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              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>GSAMP TRUST 2005-HE4</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>11044518.640000</valUSD>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>-2407161.830000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
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        <securityLending>
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      <invstOrSec>
        <name>PROFRAC HOLDINGS II LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES GOVT</name>
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        <curCd>USD</curCd>
        <valUSD>1563647.550000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
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        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD ZAR BOUGHT USD 20250723</title>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK MORTGAGE TRUST 2019-B12</name>
        <lei>N/A</lei>
        <title>BENCHMARK MORTGAGE TRUST BMARK 2019 B12 TCC 144A</title>
        <cusip>08162FBA0</cusip>
        <identifiers>
          <isin value="US08162FBA03"/>
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        <balance>9600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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      <invstOrSec>
        <name>X CORPORATION</name>
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      <invstOrSec>
        <name>HARP FINCO LIMITED</name>
        <lei>N/A</lei>
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        <name>HESTIA RE LTD</name>
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        <curCd>USD</curCd>
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        <name>AMSURG (AMBULATORY TOPCO LLC)</name>
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        <securityLending>
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        <name>THAMES WATER UTILITIES FINANCE PLC</name>
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        <name>ALIGNED DATA CENTERS INTERNATIONAL LP</name>
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        <name>N/A</name>
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        <name>COLLEGE AVE STUDENT LOANS LLC 2024-A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>THAMES WATER SUPER SENIOR ISSUER PLC</name>
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      <invstOrSec>
        <name>WINDSTREAM SERVICES LLC</name>
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        <name>POLESTAR RE LTD</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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        <name>BBCCRE TRUST 2015-GTP</name>
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      <invstOrSec>
        <name>CONNECTICUT AVENUE SECURITIES TRUST 2022-R04</name>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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          <transCat>Reverse repurchase</transCat>
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              <counterpartyInfo lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>GREENGROVE RE LTD</name>
        <lei>254900WH3CK41D9L7T70</lei>
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      <invstOrSec>
        <name>N/A</name>
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          <transCat>Reverse repurchase</transCat>
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        <securityLending>
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      <invstOrSec>
        <name>STRATTON HAWKSMOOR 2022-1 PLC 22-1A</name>
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        <name>N/A</name>
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        <name>DOLP TRUST 2021-NYC</name>
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        <name>LIBERTY STREET TRUST 2016-225L</name>
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        <name>AUCHAN (ELO SACA)</name>
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      <invstOrSec>
        <name>N/A</name>
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          <transCat>Reverse repurchase</transCat>
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        <name>J&amp;J VENTURES GAMING LLC</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>STRUCTURED ASSET SEC CORP 2006-WF1</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO PARIBAS</title>
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        <curCd>USD</curCd>
        <valUSD>-2649566.770000</valUSD>
        <pctVal>-0.381682</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="R0MUWSFPU8MPRO8K5P83" name="BNP PARIBAS"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.730000</repurchaseRt>
          <maturityDt>2027-06-16</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>6295147.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>4099233.660000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PETROLEOS MEXICANOS (PEMEX)</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>PETROLEOS MEXICANOS COMPANY GUAR 02/32 6.7</title>
        <cusip>71643VAB1</cusip>
        <identifiers>
          <isin value="US71643VAB18"/>
        </identifiers>
        <balance>1978000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1839486.200000</valUSD>
        <pctVal>0.264986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.7</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO MORGAN STANLEY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="973MRB002"/>
        </identifiers>
        <balance>-1816091.650000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>-2142155.450000</valUSD>
        <pctVal>-0.308587</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="IGJSJL3JD5P30I6NJZ34" name="MORGAN STANLEY"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>2.604000</repurchaseRt>
          <maturityDt>2025-09-18</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2639668.100000</principalAmt>
              <principalCd>EUR</principalCd>
              <collateralVal>2338672.030000</collateralVal>
              <collateralCd>EUR</collateralCd>
              <invstCat>ABS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OI SA (AKA: BRASIL TELECOM S/A)</name>
        <lei>254900YEMWCRRAGD4978</lei>
        <title>OI S.A. SR SECURED 144A 12/28 8.5</title>
        <cusip>67117EAG3</cusip>
        <identifiers>
          <isin value="US67117EAG35"/>
        </identifiers>
        <balance>34306316.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2315676.330000</valUSD>
        <pctVal>0.333584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MERRILL LYNCH MORTGAGE INVS 2005-WMC2</name>
        <lei>N/A</lei>
        <title>MERRILL LYNCH MORTGAGE INVESTO MLMI 2005 WMC2 M6</title>
        <cusip>59020UWN1</cusip>
        <identifiers>
          <isin value="US59020UWN17"/>
        </identifiers>
        <balance>5984410.860000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5027342.580000</valUSD>
        <pctVal>0.724212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.48368</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YINSON PRODUCTION FINANCIAL SERVICES PTE LTD</name>
        <lei>254900TYMSC94RS33U73</lei>
        <title>YINSON PRODUCTION FINANC SR SECURED 144A REGS 05/29 9.6</title>
        <cusip>ACI2NT341</cusip>
        <identifiers>
          <isin value="NO0013215509"/>
        </identifiers>
        <balance>1600000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1663370.140000</valUSD>
        <pctVal>0.239616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.625</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD EUR BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FGKBBNJDR"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>-38673.450000</valUSD>
        <pctVal>-0.0055711</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>Citibank, National Association</counterpartyName>
              <counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei>
            </counterparties>
            <amtCurSold>1080000.000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>1233513.250000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>-38673.450000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO WARBURG REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZMB001"/>
        </identifiers>
        <balance>-5202730.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-5273568.060000</valUSD>
        <pctVal>-0.759682</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300SZJ9VS8SGXAN81" name="UBS Group AG"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.570000</repurchaseRt>
          <maturityDt>2025-10-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>15500000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>9128458.400000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DATABRICKS INC</name>
        <lei>984500FEDAC7FBD96273</lei>
        <title>DATABRICKS INC LAST OUT TERM LOAN</title>
        <cusip>BA000D206</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BKLDTB9A7"/>
        </identifiers>
        <balance>1637554.590000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1653930.140000</valUSD>
        <pctVal>0.238256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.8158</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO BANK OF NEW YORK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="976EBD000"/>
        </identifiers>
        <balance>-9907005.760000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-9925930.890000</valUSD>
        <pctVal>-1.42988</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300KQ38UGDJPWLM29" name="RBC BARBADOS TRADING BANK CORPORATION"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.290000</repurchaseRt>
          <maturityDt>2025-12-18</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>12743604.740000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>12026144.890000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO MORGAN STANLEY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLU000"/>
        </identifiers>
        <balance>-1986416.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1988459.250000</valUSD>
        <pctVal>-0.286447</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="IGJSJL3JD5P30I6NJZ34" name="MORGAN STANLEY"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.290000</repurchaseRt>
          <maturityDt>2025-12-22</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2680000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2533572.040000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD JPY BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25EUKBBPVWT"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="144.005000"/>
        <valUSD>16.820000</valUSD>
        <pctVal>0.0000024</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
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            <amtCurSold>945175.000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>6580.310000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>16.820000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO DEUTSCHE REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLG001"/>
        </identifiers>
        <balance>-9941921.130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-9952399.240000</valUSD>
        <pctVal>-1.43369</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AKTIENGESELLSCHAFT"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.420225</repurchaseRt>
          <maturityDt>2025-08-22</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>13624892.830000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>12677776.050000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO BARCLAYS REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLB002"/>
        </identifiers>
        <balance>-4661167.500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-4666143.300000</valUSD>
        <pctVal>-0.672179</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>5.490000</repurchaseRt>
          <maturityDt>2025-10-22</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>11198000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>6076034.800000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>ALTICE FRANCE SA 2023 USD TERM LOAN B14</title>
        <cusip>F6628DAN4</cusip>
        <identifiers>
          <isin value="XAF6628DAN49"/>
        </identifiers>
        <balance>989898.990000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>899432.120000</valUSD>
        <pctVal>0.129567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>JP MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES TRUST 2021-1440</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
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          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CARVANA CO</name>
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          <isin value="US146869AM47"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
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      <invstOrSec>
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        <title>ADLER GROUP SA   VTG SHS COMMON STOCK</title>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WAYFAIR LLC</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COUNTRYWIDE HOME LOANS 2007-20</name>
        <lei>N/A</lei>
        <title>COUNTRYWIDE HOME LOANS CWHL 2007 20 A1</title>
        <cusip>12544QAA8</cusip>
        <identifiers>
          <isin value="US12544QAA85"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>URSA RE LTD</name>
        <lei>549300O8X4DWGDJZ6W59</lei>
        <title>URSA RE LTD UNSECURED 144A 12/28 VAR</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <valUSD>-23844840.120000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <invstCat>CDS</invstCat>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>
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        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <counterpartyInfo lei="IGJSJL3JD5P30I6NJZ34" name="MORGAN STANLEY"/>
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              <invstCat>PLCMO</invstCat>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ASTON MARTIN CAPITAL HOLDINGS LIMITED</name>
        <lei>213800H4GKEF3CJ8C774</lei>
        <title>ASTON MARTIN CAPITAL HOL ASTON MARTIN CAPITAL HOL</title>
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          <isin value="XS2788344419"/>
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        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>X CORPORATION</name>
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        <title>TWITTER INC 2025 FIXED TERM LOAN</title>
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        <assetCat>LON</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OI SA (AKA: BRASIL TELECOM S/A)</name>
        <lei>254900YEMWCRRAGD4978</lei>
        <title>OI S.A. SR SECURED 144A 06/27 10</title>
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          <isin value="US67117EAE86"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10434665.910000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>13.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO ROYAL BANK OF CAN</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="973MHZ000"/>
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        <balance>-691875.990000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-693083.120000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300LCO2FLSSVFFR64" name="RBC Capital Markets, LLC"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>5.710000</repurchaseRt>
          <maturityDt>2025-12-19</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
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              <collateralVal>1065274.650000</collateralVal>
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              <invstCat>PLCMO</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
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      <invstOrSec>
        <name>THAMES WATER UTILITIES FINANCE PLC</name>
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        <securityLending>
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      <invstOrSec>
        <name>COLONY MORTGAGE CAPITAL SERIES LTD 2019-IKPR</name>
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        <securityLending>
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      <invstOrSec>
        <name>STEPSTONE GROUP MIDCO 2 GMBH</name>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>SANDERS RE III LTD</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO CIBC</title>
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        <name>INCORA TOP HOLDCO LLC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Internal ID" value="971NVK007"/>
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      <invstOrSec>
        <name>NEW ORLEANS HOTEL TRUST 2019-HNLA</name>
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        <name>FREDDIE MAC STACR REMIC TRUST 2021-DNA7</name>
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        <name>N/A</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal ID" value="913ZLB002"/>
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        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
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            <counterpartyInfos>
              <counterpartyInfo lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
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            <repurchaseCollateral>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
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        <invCountry>N/A</invCountry>
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          <fwdDeriv derivCat="FWD">
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO PARIBAS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLW006"/>
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        <balance>-4866816.000000</balance>
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        <valUSD>-4901254.130000</valUSD>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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              <counterpartyInfo lei="R0MUWSFPU8MPRO8K5P83" name="BNP PARIBAS"/>
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          <isTriParty>N</isTriParty>
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            <repurchaseCollateral>
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        <securityLending>
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      <invstOrSec>
        <name>OI SA (AKA: BRASIL TELECOM S/A)</name>
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      <invstOrSec>
        <name>COLLEGE AVE STUDENT LOANS LLC 2024-A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <assetCat>DFE</assetCat>
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        <derivativeInfo>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>TORREY PINES RE LTD</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>UNITED STATES GOVT</name>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <assetCat>DFE</assetCat>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD GBP BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
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        <balance>1.000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <derivativeInfo>
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            <amtCurSold>1654000.000000</amtCurSold>
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            <unrealizedAppr>-25533.090000</unrealizedAppr>
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      <invstOrSec>
        <name>STEENBOK LUX FINCO 1 SARL</name>
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        <title>STEENBOK LUX FINCO 2 SARL 2023 EUR PIK TERM LOAN RESTRUC</title>
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        <assetCat>LON</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>UNITI GROUP LP / UNITI GROUP FINANCE 2019 INC / CSL CAPITAL LLC</name>
        <lei>N/A</lei>
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          <isin value="US91327TAA97"/>
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        <curCd>USD</curCd>
        <valUSD>2222360.310000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ADLER FINANCING SA RL</name>
        <lei>213800BAQB59IVKP7S93</lei>
        <title>ADLER FINANCING SARL SR SECURED 12/28 8.25</title>
        <cusip>ACI2TFLX1</cusip>
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          <isin value="DE000A4D5RA0"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VALE SA</name>
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        <title>VALE SA SUBORDINATED 12/49 VAR</title>
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          <isin value="BRVALEDBS028"/>
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        <currencyConditional curCd="BRL" exchangeRt="5.433100"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>INTELSAT JACKSON HOLDINGS SA</name>
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          <isin value="US45824TBC80"/>
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        <curCd>USD</curCd>
        <valUSD>6950933.680000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT EUR SOLD USD 20250702</title>
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          <other otherDesc="Internal ID" value="25FHKBBNVGF"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <pctVal>0.0032039</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENVALIOR FINANCE GMBH</name>
        <lei>254900GAG6U7Z5TROP43</lei>
        <title>SCUR ALPHA 1503 GMBH EUR TERM LOAN B1</title>
        <cusip>D7001LAB9</cusip>
        <identifiers>
          <isin value="XAD7001LAB99"/>
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        <balance>2400000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-29</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEWFOLD DIGITAL HOLDINGS GROUP INC</name>
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        <title>NEWFOLD DIGITAL HLDGS GR SR SECURED 144A 10/28 11.75</title>
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        <identifiers>
          <isin value="US650929AA08"/>
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        <balance>765000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>577575.000000</valUSD>
        <pctVal>0.0832023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal ID" value="25ERKBCDCKR"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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      <invstOrSec>
        <name>PROMOTORA DE INFORMACIONES SA (PRISA)</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>RUSSIAN GOVT</name>
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          <isin value="XS0767473852"/>
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        <balance>5800000.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4060000.000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625</annualizedRt>
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        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>ALTICE FRANCE SA SR SECURED 144A 10/29 5.5</title>
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          <isin value="US02156LAH42"/>
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        <balance>2300000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>VIRIDIEN</name>
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        <title>VIRIDIEN SR SECURED 144A 10/30 8.5</title>
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          <isin value="XS3023950556"/>
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        <balance>2100000.000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>STRATTON HAWKSMOOR 2022-1 PLC 22-1A</name>
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        <name>EAST LANE RE VII LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>AVENIR ISSUER IV (IRELAND) DESIGNATED ACTIVITY COMPANY</name>
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          <isin value="XS2933572856"/>
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        <balance>1973119.380000</balance>
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        <curCd>USD</curCd>
        <valUSD>1850826.490000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
          <maturityDt>2027-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD GBP BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBNMS7"/>
        </identifiers>
        <balance>1.000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
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            <amtCurSold>460000.000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>632249.350000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>830.500000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO BANK OF NEW YORK</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="976EBD000"/>
        </identifiers>
        <balance>-1861562.680000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1867671.710000</valUSD>
        <pctVal>-0.269047</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300KQ38UGDJPWLM29" name="RBC BARBADOS TRADING BANK CORPORATION"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.370000</repurchaseRt>
          <maturityDt>2025-10-09</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>3125590.580000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2416165.280000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDYMAC RESIDENTIAL ASSET BACKED 2005-C</name>
        <lei>N/A</lei>
        <title>INDYMAC RESIDENTIAL ASSET BACK INABS 2005 C M4</title>
        <cusip>456606HX3</cusip>
        <identifiers>
          <isin value="US456606HX30"/>
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        <balance>11200000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9481688.160000</valUSD>
        <pctVal>1.36588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.34868</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>
      <invstOrSec>
        <name>SYNIVERSE CORPORATION</name>
        <lei>N/A</lei>
        <title>SYNIVERSE PFD PIK PFDJJZ917</title>
        <cusip>936UVD902</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="PFDJJZ917"/>
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        <balance>12036017.970000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11391477.170000</valUSD>
        <pctVal>1.64099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT GBP SOLD USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ETKBBPVPV"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
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        <pctVal>0.0021429</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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            <amtCurSold>801850.740000</amtCurSold>
            <curSold>USD</curSold>
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            <curPur>GBP</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>14875.820000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WAYFAIR LLC</name>
        <lei>549300CTUWTZGOXMYI40</lei>
        <title>WAYFAIR LLC SR SECURED 144A 09/30 7.75</title>
        <cusip>94419NAB3</cusip>
        <identifiers>
          <isin value="US94419NAB38"/>
        </identifiers>
        <balance>200000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201741.200000</valUSD>
        <pctVal>0.0290617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROMANIA GOVT</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>ROMANIA SR UNSECURED REGS 03/30 5.25</title>
        <cusip>ACI2TMWB2</cusip>
        <identifiers>
          <isin value="XS2999533271"/>
        </identifiers>
        <balance>1700000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>2047112.140000</valUSD>
        <pctVal>0.294896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEASONED CREDIT RISK TRANSFER TRUST SERIES 2019-2</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC   SCRT SCRT 2019 2 M 144A</title>
        <cusip>35563PKR9</cusip>
        <identifiers>
          <isin value="US35563PKR90"/>
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        <balance>8337000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8087265.170000</valUSD>
        <pctVal>1.16501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO CREDIT AGRICOLE 03/14 VAR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="923TKQ002"/>
        </identifiers>
        <balance>-1543524.740000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1549069.850000</valUSD>
        <pctVal>-0.223151</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300WO2DKF0Q3YMV43" name="CREDIT AGRICOLE SECURITIES (USA) INC."/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>4.790000</repurchaseRt>
          <maturityDt>2025-09-04</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1788534.000000</principalAmt>
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              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO WARBURG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="975ZWH002"/>
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        <balance>-441665.000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="BFM8T61CT2L1QCEMIK50" name="UBS AG"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>2.130000</repurchaseRt>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>315789.450000</principalAmt>
              <principalCd>EUR</principalCd>
              <collateralVal>313734.840000</collateralVal>
              <collateralCd>EUR</collateralCd>
              <invstCat>CDS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO SOCIETE GENERALE REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="988FYT003"/>
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        <balance>-2750929.650000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-2751290.330000</valUSD>
        <pctVal>-0.396336</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300F35UE0BOM1WJ55" name="SG AMERICAS SECURITIES, LLC"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>4.720000</repurchaseRt>
          <maturityDt>2027-06-30</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>3510000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>3265908.180000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMS-OSRAM AG</name>
        <lei>5299001JPPT2QFTV5D76</lei>
        <title>AMS OSRAM AG SR UNSECURED REGS 03/29 10.5</title>
        <cusip>ACI2L69P0</cusip>
        <identifiers>
          <isin value="XS2724532333"/>
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        <balance>3400000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>4201253.750000</valUSD>
        <pctVal>0.60521</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD EUR BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FRKBBPQ9P"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>-4337.170000</valUSD>
        <pctVal>-0.0006248</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>HSBC BANK PLC</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD CAD BOUGHT USD 20250805</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal ID" value="25FQKBB3242"/>
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        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
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            <amtCurSold>5408960.890000</amtCurSold>
            <curSold>CAD</curSold>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THAMES WATER UTILITIES FINANCE PLC</name>
        <lei>213800ESMPQ4RQ7G8351</lei>
        <title>THAMES WATER UTIL FIN SR SECURED REGS 01/34 2.625</title>
        <cusip>ACI0RZP43</cusip>
        <identifiers>
          <isin value="XS1555168365"/>
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        <balance>100000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
        <valUSD>89608.070000</valUSD>
        <pctVal>0.0129085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LUMEN TECHNOLOGIES INC</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>LUMEN TECHNOLOGIES INC 2024 EXTENDED TERM LOAN B2</title>
        <cusip>55024EAG0</cusip>
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          <isin value="US55024EAG08"/>
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        <balance>5639663.270000</balance>
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        <curCd>USD</curCd>
        <valUSD>5577570.580000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT TRY SOLD USD 20250818</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FSKBBW997"/>
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        <balance>1.000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="41.462700"/>
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        <pctVal>0.0012992</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>TR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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            <amtCurSold>918137.720000</amtCurSold>
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        <securityLending>
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      <invstOrSec>
        <name>PERATON CORP</name>
        <lei>549300EQPCK07ZW63836</lei>
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          <isin value="US71360HAB33"/>
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        <balance>5687449.610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AMSURG LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal ID" value="BKLAMG943"/>
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        <balance>98872.920000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98872.920000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>11.1105</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO BANK OF NEW YORK</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal ID" value="976EBD000"/>
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        <balance>-1709424.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1714532.330000</valUSD>
        <pctVal>-0.246986</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300KQ38UGDJPWLM29" name="RBC BARBADOS TRADING BANK CORPORATION"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.890000</repurchaseRt>
          <maturityDt>2025-10-09</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1800000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>2134154.970000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD ZAR BOUGHT USD 20250723</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FMKBBN1CP"/>
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        <balance>1.000000</balance>
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        <pctVal>-0.0012566</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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            <amtCurSold>7114645.390000</amtCurSold>
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            <amtCurPur>392517.000000</amtCurPur>
            <curPur>USD</curPur>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>PEMEX LCDS SP DUB</title>
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          <other otherDesc="Internal ID" value="SWPCPEMQ9"/>
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        <balance>1.000000</balance>
        <units>NC</units>
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        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>
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        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>DEUTSCHE BANK AKTIENGESELLSCHAFT</counterpartyName>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <ticker value="PEMEX"/>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PETROLEOS MEXICANOS (PEMEX)</name>
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          <isin value="US71654QDC33"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal ID" value="913ZLG001"/>
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        <curCd>USD</curCd>
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        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AKTIENGESELLSCHAFT"/>
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          <isTriParty>N</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TORREY PINES RE LTD</name>
        <lei>N/A</lei>
        <title>TORREY PINES RE LTD TORREY PINES RE LTD</title>
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          <isin value="US89141WAJ18"/>
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        <balance>250000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260937.500000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD EUR BOUGHT USD 20250702</title>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>SANTANDER BANK AUTO CREDIT-LINKED NOTES SERIES 2024-A</name>
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        <title>SANTANDER BANK AUTO CREDIT LIN SBCLN 2024 A G 144A</title>
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        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO WARBURG REVERSE REPO</title>
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          <other otherDesc="Internal ID" value="913ZMB001"/>
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        <curCd>USD</curCd>
        <valUSD>-3228656.460000</valUSD>
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        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300SZJ9VS8SGXAN81" name="UBS Group AG"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>4.900000</repurchaseRt>
          <maturityDt>2025-07-16</maturityDt>
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            <repurchaseCollateral>
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              <invstCat>CDS</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SEC ASSET BACKED REC LLC 2006-FR1</name>
        <lei>N/A</lei>
        <title>SECURITIZED ASSET BACKED RECEI SABR 2006 FR1 M1</title>
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        <identifiers>
          <isin value="US81375WJU18"/>
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        <balance>5327261.190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4473174.970000</valUSD>
        <pctVal>0.644381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.03368</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>ASTON MARTIN CAPITAL HOLDINGS LIMITED</name>
        <lei>213800H4GKEF3CJ8C774</lei>
        <title>ASTON MARTIN CAPITAL HOL ASTON MARTIN CAPITAL HOL</title>
        <cusip>04625HAJ8</cusip>
        <identifiers>
          <isin value="US04625HAJ86"/>
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        <balance>1200000.000000</balance>
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      <invstOrSec>
        <name>INCORA INTERMEDIATE II LLC</name>
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        <name>VIALTO PARTNERS (GALAXY US OPCO INC)</name>
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        <name>HUNTINGTON BANK AUTO CREDIT-LINKED NOTES SERIES 2024-2</name>
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        <name>ECOPETROL SA</name>
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      <invstOrSec>
        <name>N/A</name>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>LENDINGPOINT PASS-THROUGH TRUST SERIES 2022-ST2</name>
        <lei>N/A</lei>
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          <isin value="US52607QAB68"/>
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      <invstOrSec>
        <name>UNITED STATES GOVT</name>
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          <isin value="US912797QK68"/>
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        <curCd>USD</curCd>
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        <debtSec>
          <maturityDt>2025-08-19</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>LONG WALK REINSURANCE LTD</name>
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      <invstOrSec>
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        <name>COHESITY INC</name>
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      <invstOrSec>
        <name>EVERGLADES RE II LTD</name>
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        <title>EVERGLADES RE II LTD SR UNSECURED 144A 05/31 VAR</title>
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      <invstOrSec>
        <name>DOLP TRUST 2021-NYC</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <name>ATLAS RE LIMITED</name>
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        <title>ATLAS RE LIMITED ATLAS RE LTD SIDECAR</title>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>MERRILL LYNCH REVERSE REPO EUR ZCP</title>
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      <invstOrSec>
        <name>RR 7 LTD 2019-7A</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>CASSINI SAS</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>YINSON BORONIA PRODUCTION BV</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2022-ONL</name>
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      <invstOrSec>
        <name>BSST 2021-1818 MORTGAGE TRUST</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>YAHOO (AKA: AP CORE HOLDINGS II LLC)</name>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
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        <name>INGENICO TERMINALS (POSEIDON BIDCO)</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>PETROLEOS MEXICANOS (PEMEX)</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>THAMES WATER SUPER SENIOR ISSUER PLC</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>BEAR STEARNS ABS INC 2004-FR1</name>
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        <name>RR 1 LLC 2017-1A</name>
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        <name>N/A</name>
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        <name>IHEARTCOMMUNICATIONS INC</name>
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        <name>EDISON INTERNATIONAL</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>COMETE HOLDING</name>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RFR USD SOFR/3.75000 12/18/24-4Y LCH</title>
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        <valUSD>352514.520000</valUSD>
        <pctVal>0.0507813</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>LONDON CLEARING HOUSE</counterpartyName>
              <counterpartyLei>F226TOH6YD6XJB17KS62</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>USD-SOFR-COMPOUND</issueTitle>
                <identifiers>
                  <other otherDesc="Internal_ID" value="SWU025TO1-USD-SOFR-COMPOUND"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.750000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="United States SOFR Secured Overnight Financing Rate" floatingRtSpread="0.000000" pmntAmt="0.000000">
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                <rtResetTenor rateTenor="Day" rateTenorUnit="1" resetDt="Day" resetDtUnit="1"/>
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            <terminationDt>2028-12-18</terminationDt>
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            <upfrontRcpt>0.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>43200000.000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-268329.480000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="963SVD002"/>
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        <balance>-1640687.000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RILFO74KP1CM8P6PCT96" name="STANDARD CHARTERED BANK"/>
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          <isTriParty>N</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1700000.000000</principalAmt>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO WARBURG REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZMB001"/>
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        <balance>-8387323.280000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-8472202.990000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300SZJ9VS8SGXAN81" name="UBS Group AG"/>
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          <isTriParty>N</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>13421889.200000</principalAmt>
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              <collateralVal>10745855.780000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BCP TRUST 2021-330N</name>
        <lei>N/A</lei>
        <title>BCP TRUST BCP 2021 330N E 144A</title>
        <cusip>05553BAN5</cusip>
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          <isin value="US05553BAN55"/>
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        <balance>5500000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1106787.550000</valUSD>
        <pctVal>0.159438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8.06448</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>
      <invstOrSec>
        <name>SAXON ASSET SECURITIES TRUST 2007-1</name>
        <lei>N/A</lei>
        <title>SAXON ASSET SECURITIES TRUST SAST 2007 1 M1</title>
        <cusip>80556BAF2</cusip>
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          <isin value="US80556BAF22"/>
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        <balance>1711541.770000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1678822.050000</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>2047-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.72368</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>
      <invstOrSec>
        <name>THAMES WATER UTILITIES FINANCE PLC</name>
        <lei>213800ESMPQ4RQ7G8351</lei>
        <title>THAMES WATER UTIL FIN SR SECURED REGS 01/34 1.25</title>
        <cusip>ACI236111</cusip>
        <identifiers>
          <isin value="XS2438026366"/>
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        <balance>100000.000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>75979.220000</valUSD>
        <pctVal>0.0109452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25</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>
      <invstOrSec>
        <name>FUTBOL CLUB BARCELONA SL</name>
        <lei>95980020140005871781</lei>
        <title>ESPAI BRCA FNDO DE TITULZACION EUR TERM LOAN</title>
        <cusip>948FVAII8</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BKL0259A7"/>
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        <balance>3395756.840000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>4612950.780000</valUSD>
        <pctVal>0.664517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.2693</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BARCLAYS REV REPO EUR</title>
        <cusip>000000000</cusip>
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        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
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        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
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          <isTriParty>N</isTriParty>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>1300000.000000</principalAmt>
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              <collateralVal>1313143.640000</collateralVal>
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              <invstCatConditional desc="International Debt" invstCat="Other instrument"/>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO PARIBAS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLW006"/>
        </identifiers>
        <balance>-1578450.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-1594959.710000</valUSD>
        <pctVal>-0.229761</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="R0MUWSFPU8MPRO8K5P83" name="BNP PARIBAS"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>5.610000</repurchaseRt>
          <maturityDt>2025-10-23</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2000000.000000</principalAmt>
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              <collateralVal>2131005.600000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WINSTON RE LTD</name>
        <lei>2549001Q4VX5Y31QFJ88</lei>
        <title>WINSTON RE LTD UNSECURED 144A 02/31 VAR</title>
        <cusip>975660AB7</cusip>
        <identifiers>
          <isin value="US975660AB76"/>
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        <balance>700000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>736050.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>16.0473</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>DUKE FUNDING LTD 2004-6A</name>
        <lei>N/A</lei>
        <title>DUKE FUNDING LTD DUKEF 2004 6A A1S 144A</title>
        <cusip>264407AA5</cusip>
        <identifiers>
          <isin value="US264407AA58"/>
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        <balance>125567387.440000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9900235.100000</valUSD>
        <pctVal>1.42617</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>8</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 STACR REMIC TRUST 2021-DNA5</name>
        <lei>N/A</lei>
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        <cusip>35564KJB6</cusip>
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          <isin value="US35564KJB61"/>
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        <balance>900000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1065274.650000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-25</maturityDt>
          <couponKind>Floating</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES GOVT</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <balance>741000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>732531.680000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-07</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0</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>US RENAL CARE INC</name>
        <lei>54930058SS5MF69JGN89</lei>
        <title>U S RENAL CARE INC 2023 SUPERPRIORITY TERM LOAN</title>
        <cusip>90290PAS3</cusip>
        <identifiers>
          <isin value="US90290PAS39"/>
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        <balance>21309639.270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20226363.760000</valUSD>
        <pctVal>2.9137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.4413</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>N/A</name>
        <lei>N/A</lei>
        <title>SOLD GBP BOUGHT USD 20250804</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FQKBB1QT9"/>
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        <balance>1.000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.728400"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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            <settlementDt>2025-08-04</settlementDt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>CDK GLOBAL (CENTRAL PARENT LLC / CDK GLOBAL II LLC / CDK FINANCING CO INC)</name>
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        <securityLending>
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      <invstOrSec>
        <name>SANTANDER BANK AUTO CREDIT-LINKED NOTES SERIES 2024-A</name>
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      <invstOrSec>
        <name>FREDDIE MAC STACR REMIC TRUST 2021-DNA6</name>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>
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                <issuerName>N/A</issuerName>
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        <name>TURKEY GOVT</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>MRCD 2019-PARK MORTGAGE TRUST</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <invCountry>N/A</invCountry>
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        <name>EVERGLADES RE II LTD</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD JPY BOUGHT USD 20250702</title>
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      <invstOrSec>
        <name>N/A</name>
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        <title>BOUGHT GBP SOLD USD 20250702</title>
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        <name>N/A</name>
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          <transCat>Reverse repurchase</transCat>
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        <valUSD>6506640.790000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMS-OSRAM AG</name>
        <lei>5299001JPPT2QFTV5D76</lei>
        <title>AMS OSRAM AG SR UNSECURED 144A 03/29 12.25</title>
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        <identifiers>
          <isin value="US03217CAB28"/>
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        <balance>3100000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3310400.810000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.25</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO THE BANK OF NOVA REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="973VSR006"/>
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        <balance>-2564265.910000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-2593116.750000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300BLWPABP1VNME36" name="SCOTIA CAPITAL (USA) INC."/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.880000</repurchaseRt>
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          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2900000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>3039608.870000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UROPA SECURITIES PLC 2007-1</name>
        <lei>N/A</lei>
        <title>UROPA SECURITIES PLC UROPA 2007 1 B1B REGS</title>
        <cusip>995YLSII1</cusip>
        <identifiers>
          <isin value="XS0311816150"/>
        </identifiers>
        <balance>2639668.110000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>2754840.230000</valUSD>
        <pctVal>0.396847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-10</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.643</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRETIUM MORTGAGE CREDIT PARTNERS LLC 2022-RN1</name>
        <lei>N/A</lei>
        <title>PRETIUM MORTGAGE CREDIT PARTNE PRET 2022 RN1 A2 144A</title>
        <cusip>69363JAB0</cusip>
        <identifiers>
          <isin value="US69363JAB08"/>
        </identifiers>
        <balance>11779854.510000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11776718.710000</valUSD>
        <pctVal>1.69649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.1701</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOUGHT CAD SOLD USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25FQKBB320X"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.361800"/>
        <valUSD>37193.690000</valUSD>
        <pctVal>0.0053579</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC BANK PLC</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
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            <amtCurSold>3941517.980000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>5418010.620000</amtCurPur>
            <curPur>CAD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>37193.690000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EGYPT EM SP BRC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="EZSLMMYDMNG6"/>
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        <balance>1.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-313152.870000</valUSD>
        <pctVal>-0.0451111</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BARCLAYS BANK PLC</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>EGYPTIAN GOVT</issuerName>
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                  <isin value="XS1953057061"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.000000"/>
            <otherPmntDesc fixedOrFloating="Other">Single Leg Swap</otherPmntDesc>
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            <upfrontPmnt>0.000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>-520500.000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>3000000.000000</notionalAmt>
            <curCd>USD</curCd>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOLD GBP BOUGHT USD 20250702</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="25ERKBC20SH"/>
        </identifiers>
        <balance>1.000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.728500"/>
        <valUSD>-223727.620000</valUSD>
        <pctVal>-0.032229</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STATE STREET CORPORATION</counterpartyName>
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            <amtCurSold>12007914.000000</amtCurSold>
            <curSold>GBP</curSold>
            <amtCurPur>16258931.700000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-02</settlementDt>
            <unrealizedAppr>-223727.620000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO DEUTSCHE REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLG001"/>
        </identifiers>
        <balance>-2179421.120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-2210668.570000</valUSD>
        <pctVal>-0.318457</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AKTIENGESELLSCHAFT"/>
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          <isTriParty>N</isTriParty>
          <repurchaseRt>4.650000</repurchaseRt>
          <maturityDt>2027-03-12</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
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              <principalCd>USD</principalCd>
              <collateralVal>2708470.800000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
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        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CDK GLOBAL (CENTRAL PARENT LLC)</name>
        <lei>N/A</lei>
        <title>CENTRAL PARENT INC 2024 TERM LOAN B</title>
        <cusip>15477BAE7</cusip>
        <identifiers>
          <isin value="US15477BAE74"/>
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        <balance>5868426.100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4915100.280000</valUSD>
        <pctVal>0.708043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.5456</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>FORWARD AIR CORPORATION</name>
        <lei>N/A</lei>
        <title>CLUE OPCO LLC SR SECURED 144A 10/31 9.5</title>
        <cusip>36267QAA2</cusip>
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          <isin value="US36267QAA22"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1092912.400000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.5</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>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO MORGAN STANLEY</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="913ZLU000"/>
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        <balance>-13055141.250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-13169069.120000</valUSD>
        <pctVal>-1.89706</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="IGJSJL3JD5P30I6NJZ34" name="MORGAN STANLEY"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.610000</repurchaseRt>
          <maturityDt>2025-11-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>28235000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>21666728.060000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO PARIBAS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLW006"/>
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        <balance>-6660309.600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-6708134.320000</valUSD>
        <pctVal>-0.966337</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="R0MUWSFPU8MPRO8K5P83" name="BNP PARIBAS"/>
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          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.500000</repurchaseRt>
          <maturityDt>2025-11-12</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>8981000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>8558540.950000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LENDINGPOINT PASS-THROUGH TRUST SERIES 2022-ST3</name>
        <lei>N/A</lei>
        <title>LENDINGPOINT PASS THROUGH TRUS LPPT 2022 ST3 CERT 144A</title>
        <cusip>52607TAB0</cusip>
        <identifiers>
          <isin value="US52607TAB08"/>
        </identifiers>
        <balance>7554000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>986082.690000</valUSD>
        <pctVal>0.14205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC STACR TRUST 2022-DNA1</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC   STACR STACR 2022 DNA1 B2 144A</title>
        <cusip>35564KQZ5</cusip>
        <identifiers>
          <isin value="US35564KQZ56"/>
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        <balance>2000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2134591.200000</valUSD>
        <pctVal>0.307498</pctVal>
        <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>11.4052</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
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        <curCd>USD</curCd>
        <valUSD>3095395.200000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <securityLending>
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      <invstOrSec>
        <name>UBISOFT ENTERTAINMENT</name>
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          <isin value="FR0014000O87"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <debtSec>
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          <annualizedRt>0.878</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>HSI ASSET SECUR CORP TRUST 2006-OPT1</name>
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          <isin value="US40430HDH84"/>
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        <name>ALTICE FRANCE SA</name>
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        <isRestrictedSec>N</isRestrictedSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <assetCat>LON</assetCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>SVB FINANCIAL GROUP</name>
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        <invCountry>US</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>TEAM HEALTH HOLDINGS INC</name>
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        <name>RR 17 LTD</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO DEUTSCHE REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLG001"/>
        </identifiers>
        <balance>-7716985.500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-7721712.620000</valUSD>
        <pctVal>-1.11235</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AKTIENGESELLSCHAFT"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>5.513050</repurchaseRt>
          <maturityDt>2025-08-22</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>10455000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>11029317.560000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>PLCMO</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STEPSTONE GROUP MIDCO 2 GMBH</name>
        <lei>894500DB5T5ENCFFQU61</lei>
        <title>STEPSTONE GROUP M 2 GMBH THE EUR TERM LOAN B</title>
        <cusip>BA000BNR8</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BL4814622"/>
        </identifiers>
        <balance>7000000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>8101355.590000</valUSD>
        <pctVal>1.16704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.673</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>3 MONTH SOFR FUT  JUN25 XCME 20250916</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SFRM5"/>
        </identifiers>
        <balance>-41.000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>142446.240000</valUSD>
        <pctVal>0.02052</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="See item: C.11.b counterparty" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>90SOFR</issueTitle>
                <identifiers>
                  <other otherDesc="Internal_ID" value="ADI248D60-90SOFR"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-09-16</expDate>
            <notionalAmt>-9805534.380000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>142446.240000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRIME HEALTHCARE SERVICES INC</name>
        <lei>N/A</lei>
        <title>PRIME HEALTHCARE SERVICE PRIME HEALTHCARE SERVICE</title>
        <cusip>74165HAC2</cusip>
        <identifiers>
          <isin value="US74165HAC25"/>
        </identifiers>
        <balance>3400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3376914.000000</valUSD>
        <pctVal>0.48646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIMCO FUNDS</name>
        <lei>LWVQWTQCFH3YG7CVH718</lei>
        <title>PIMCO PRV SHORT TERM FLT III MUTUAL FUND</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="US72201W1541"/>
        </identifiers>
        <balance>6583212.400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64100739.180000</valUSD>
        <pctVal>9.234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>ALTICE FRANCE SA SR SECURED REGS 01/28 3.375</title>
        <cusip>ACI1FL2Y4</cusip>
        <identifiers>
          <isin value="XS2053846262"/>
        </identifiers>
        <balance>3600000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>3561147.420000</valUSD>
        <pctVal>0.513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GSAMP TRUST 2006-HE3</name>
        <lei>N/A</lei>
        <title>GSAMP TRUST GSAMP 2006 HE3 M1</title>
        <cusip>36244KAF2</cusip>
        <identifiers>
          <isin value="US36244KAF21"/>
        </identifiers>
        <balance>10749769.060000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8878375.090000</valUSD>
        <pctVal>1.27897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.85368</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTEGRITY RE III LTD</name>
        <lei>254900VWHVNG2WMBWC74</lei>
        <title>INTEGRITY RE III UNSECURED 144A 06/27 VAR</title>
        <cusip>45870GAF3</cusip>
        <identifiers>
          <isin value="US45870GAF37"/>
        </identifiers>
        <balance>250000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251825.000000</valUSD>
        <pctVal>0.0362765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>29.8113</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRST BRANDS GROUP LLC</name>
        <lei>N/A</lei>
        <title>FIRST BRANDS GROUP, LLC 2022 INCREMENTAL TERM LOAN</title>
        <cusip>31935HAG2</cusip>
        <identifiers>
          <isin value="US31935HAG20"/>
        </identifiers>
        <balance>1061561.050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1004725.070000</valUSD>
        <pctVal>0.144735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.5413</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>REVERSE REPO BARCLAYS REVERSE REPO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="913ZLB002"/>
        </identifiers>
        <balance>-3042268.160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-3085366.960000</valUSD>
        <pctVal>-0.444461</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerConditional desc="See item: C_10_b_ii_name" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Reverse repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="G5GSEF7VJP5I7OUK5573" name="BARCLAYS BANK PLC"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>N</isTriParty>
          <repurchaseRt>4.250000</repurchaseRt>
          <maturityDt>2027-03-03</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>3100000.000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>3310400.810000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>CDS</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOI FINANCE BV</name>
        <lei>724500ZH3H2YACBUNF38</lei>
        <title>BOI FINANCE BV 02/27 7.5</title>
        <cusip>ACI23L5Y2</cusip>
        <identifiers>
          <isin value="XS2348767323"/>
        </identifiers>
        <balance>4000000.000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.848900"/>
        <valUSD>4809343.980000</valUSD>
        <pctVal>0.692808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CPS AUTO SECURITIZATION TRUST 2025-1</name>
        <lei>N/A</lei>
        <title>CPS AUTO TRUST CPS 2025 1 A 144A</title>
        <cusip>22411GAA9</cusip>
        <identifiers>
          <isin value="US22411GAA94"/>
        </identifiers>
        <balance>5000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5081614.750000</valUSD>
        <pctVal>0.73203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POLESTAR RE LTD</name>
        <lei>N/A</lei>
        <title>POLESTAR RE LTD UNSECURED 144A 01/28 VAR</title>
        <cusip>73110JAC6</cusip>
        <identifiers>
          <isin value="US73110JAC62"/>
        </identifiers>
        <balance>300000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309510.000000</valUSD>
        <pctVal>0.0445863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-07</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>14.7973</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Total returns do not deduct sales loads and redemption fees." noteItem="B.5.a"/>

      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.c.vi"/>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D.  This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.d.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.e.iii"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list.  Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.f.ii"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-08-19</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO Access Income Fund</ncom:nameOfApplicant>
      <ncom:signature>/s/ Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
