Barings 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AON PLC	SHS CL A	G0403H108	288,735	962	SH		SOLE		962	0	0
NUTRIEN LTD	COM	67077M108	21,086,244	288,734	SH		DFND	_	288,734	0	0
SUNCOR ENERGY INC NEW	COM	867224107	38,546,937	1,214,842	SH		DFND	_	1,214,842	0	0
YUM CHINA HLDGS INC	COM	98850P109	15,552,953	284,592	SH		DFND	_	284,592	0	0
H WORLD GROUP LTD	SPONSORED ADS	44332N106	36,697,033	865,088	SH		DFND	1	865,088	0	0
INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	2,828,030	38,772	SH		DFND	1	38,772	0	0
ISHARES INC	MSCI WORLD ETF	464286392	2,774,841	25,399	SH		DFND	1	25,399	0	0
ISHARES INC	MSCI HONG KG ETF	464286871	8,824,746	420,026	SH		DFND	1	420,026	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	3,163,533	30,006	SH		DFND	1	30,006	0	0
ISHARES TR	EXPANDED TECH	464287515	2,380,684	9,305	SH		DFND	1	9,305	0	0
ISHARES TR	MSCI AC ASIA ETF	464288182	3,491,598	53,891	SH		DFND	1	53,891	0	0
ISHARES TR	GL CLEAN ENE ETF	464288224	3,154,820	158,933	SH		DFND	1	158,933	0	0
ISHARES TR	MSCI ACWI ETF	464288257	2,596,479	30,590	SH		DFND	1	30,590	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	10,205,802	89,556	SH		DFND	1	89,556	0	0
ISHARES TR	0-5YR INVT GR CP	46434V100	4,467,109	93,337	SH		DFND	1	93,337	0	0
ISHARES TR	0-5YR HI YL CP	46434V407	1,612,783	39,442	SH		DFND	1	39,442	0	0
ISHARES TR	CORE MSCI EURO	46434V738	510,910	10,756	SH		DFND	1	10,756	0	0
KE HLDGS INC	SPONSORED ADS	482497104	10,185,621	729,629	SH		DFND	1	729,629	0	0
PINDUODUO INC	SPONSORED ADS	722304102	39,287,691	481,762	SH		DFND	1	481,762	0	0
SEA LTD	SPONSORD ADS	81141R100	1,023,430	19,670	SH		DFND	1	19,670	0	0
ZHIHU INC	ADS	98955N108	2,454,934	1,888,411	SH		DFND	1	1,888,411	0	0
ZTO EXPRESS CAYMAN INC	SPONSORED ADS A	98980A105	30,622,584	1,139,657	SH		DFND	1	1,139,657	0	0
GLOBAL X FDS	X EMERGING MKT	37954Y350	4,038,432	188,800	SH		DFND	2	188,800	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	292,593,790	1,098,820	SH		DFND	2	1,098,820	0	0
ISHARES TR	CORE S&P500 ETF	464287200	598,668,338	1,558,180	SH		DFND	2	1,558,180	0	0
ISHARES TR	RUS 2000 GRW ETF	464287648	298,214,978	1,390,150	SH		DFND	2	1,390,150	0	0
3M CO	COM	88579Y101	242,478	2,022	SH		DFND	3	2,022	0	0
ABBOTT LABS	COM	002824100	336,287	3,063	SH		DFND	3	3,063	0	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	387,185	1,451	SH		DFND	3	1,451	0	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	585,899	1,741	SH		DFND	3	1,741	0	0
AGCO CORP	COM	001084102	9,640,342	69,510	SH		DFND	3	69,510	0	0
AIR PRODS & CHEMS INC	COM	009158106	8,655,633	28,079	SH		DFND	3	28,079	0	0
ALBEMARLE CORP	COM	012653101	4,279,082	19,732	SH		DFND	3	19,732	0	0
ALLIANT ENERGY CORP	COM	018802108	221,061	4,004	SH		DFND	3	4,004	0	0
ALPHABET INC	CAP STK CL C	02079K107	946,217	10,664	SH		DFND	3	10,664	0	0
ALPHABET INC	CAP STK CL A	02079K305	684,400	7,757	SH		DFND	3	7,757	0	0
AMAZON COM INC	COM	023135106	2,486,652	29,603	SH		DFND	3	29,603	0	0
AMBEV SA	SPONSORED ADR	02319V103	3,182,452	1,170,019	SH		DFND	3	1,170,019	0	0
AMCOR PLC	ORD	G0250X107	6,041,419	507,256	SH		DFND	3	507,256	0	0
AMERICAN WTR WKS CO INC NEW	COM	030420103	252,255	1,655	SH		DFND	3	1,655	0	0
AMGEN INC	COM	031162100	371,373	1,414	SH		DFND	3	1,414	0	0
ANGLOGOLD ASHANTI LIMITED	SPONSORED ADR	035128206	6,714,912	345,773	SH		DFND	3	345,773	0	0
AON PLC	SHS CL A	G0403H108	3,863,102	12,871	SH		DFND	3	12,871	0	0
APPLE INC	COM	037833100	2,065,887	15,900	SH		DFND	3	15,900	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	8,471,263	91,236	SH		DFND	3	91,236	0	0
AUTODESK INC	COM	052769106	173,228	927	SH		DFND	3	927	0	0
BANCO BRADESCO S A	SP ADR PFD NEW	059460303	9,873,613	3,428,338	SH		DFND	3	3,428,338	0	0
BANCOLOMBIA S A	SPON ADR PREF	05968L102	4,750,683	166,457	SH		DFND	3	166,457	0	0
BANK AMERICA CORP	COM	060505104	321,628	9,711	SH		DFND	3	9,711	0	0
BECTON DICKINSON & CO	COM	075887109	679,490	2,672	SH		DFND	3	2,672	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	312,298	1,011	SH		DFND	3	1,011	0	0
BLACKROCK INC	COM	09247X101	437,933	618	SH		DFND	3	618	0	0
BROADCOM INC	COM	11135F101	220,297	394	SH		DFND	3	394	0	0
BUNGE LIMITED	COM	G16962105	9,206,177	92,274	SH		DFND	3	92,274	0	0
CADENCE DESIGN SYSTEM INC	COM	127387108	201,443	1,254	SH		DFND	3	1,254	0	0
CENTRAIS ELETRICAS BRASILEIR	SPONSORED ADR	15234Q207	5,154,302	649,975	SH		DFND	3	649,975	0	0
CF INDS HLDGS INC	COM	125269100	13,344,280	156,623	SH		DFND	3	156,623	0	0
CHEVRON CORP NEW	COM	166764100	12,543,300	69,883	SH		DFND	3	69,883	0	0
CISCO SYS INC	COM	17275R102	391,887	8,226	SH		DFND	3	8,226	0	0
CNH INDL N V	SHS	N20944109	12,434,391	774,246	SH		DFND	3	774,246	0	0
COCA COLA CO	COM	191216100	355,707	5,592	SH		DFND	3	5,592	0	0
COLGATE PALMOLIVE CO	COM	194162103	385,362	4,891	SH		DFND	3	4,891	0	0
COMPANHIA DE SANEAMENTO BASI	SPONSORED ADR	20441A102	1,190,754	111,703	SH		DFND	3	111,703	0	0
CONOCOPHILLIPS	COM	20825C104	18,901,358	160,181	SH		DFND	3	160,181	0	0
CORTEVA INC	COM	22052L104	8,348,641	142,032	SH		DFND	3	142,032	0	0
COSTCO WHSL CORP NEW	COM	22160K105	638,187	1,398	SH		DFND	3	1,398	0	0
CREDICORP LTD	COM	G2519Y108	1,810,111	13,343	SH		DFND	3	13,343	0	0
D MARKET ELECTR SVCS & TRADI	SPONSORED ADS	23292B104	525,252	795,836	SH		DFND	3	795,836	0	0
DANAHER CORPORATION	COM	235851102	225,342	849	SH		DFND	3	849	0	0
DARLING INGREDIENTS INC	COM	237266101	13,273,586	212,072	SH		DFND	3	212,072	0	0
DEERE & CO	COM	244199105	23,011,978	53,671	SH		DFND	3	53,671	0	0
DISNEY WALT CO	COM	254687106	1,268,448	14,600	SH		DFND	3	14,600	0	0
DOW INC	COM	260557103	6,351,710	126,051	SH		DFND	3	126,051	0	0
EOG RES INC	COM	26875P101	12,173,067	93,986	SH		DFND	3	93,986	0	0
ESSENTIAL UTILS INC	COM	29670G102	231,347	4,847	SH		DFND	3	4,847	0	0
EXXON MOBIL CORP	COM	30231G102	23,117,556	209,588	SH		DFND	3	209,588	0	0
FIDELITY NATL INFORMATION SV	COM	31620M106	2,058,569	30,340	SH		DFND	3	30,340	0	0
FIRST TR EXCH TRADED FD III	PFD SECS INC ETF	33739E108	780,830	46,478	SH		DFND	3	46,478	0	0
FMC CORP	COM NEW	302491303	3,833,731	30,719	SH		DFND	3	30,719	0	0
GERDAU SA	SPON ADR REP PFD	373737105	1,590,556	287,104	SH		DFND	3	287,104	0	0
GRAB HOLDINGS LIMITED	CLASS A ORD	G4124C109	10,700,627	3,323,176	SH		DFND	3	3,323,176	0	0
HESS CORP	COM	42809H107	12,637,297	89,108	SH		DFND	3	89,108	0	0
HOME DEPOT INC	COM	437076102	227,419	720	SH		DFND	3	720	0	0
ILLINOIS TOOL WKS INC	COM	452308109	231,976	1,053	SH		DFND	3	1,053	0	0
INTERNATIONAL FLAVORS&FRAGRA	COM	459506101	621,806	5,931	SH		DFND	3	5,931	0	0
INTUIT	COM	461202103	375,597	965	SH		DFND	3	965	0	0
INVESCO EXCH TRADED FD TR II	SOLAR ETF	46138G706	5,713,171	78,327	SH		DFND	3	78,327	0	0
ISHARES INC	MSCI WORLD ETF	464286392	20,277,346	185,605	SH		DFND	3	185,605	0	0
ISHARES INC	MSCI EURZONE ETF	464286608	1,633,160	41,372	SH		DFND	3	41,372	0	0
ISHARES TR	CORE S&P500 ETF	464287200	1,946,792	5,067	SH		DFND	3	5,067	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	4,388,207	41,622	SH		DFND	3	41,622	0	0
ISHARES TR	US HLTHCARE ETF	464287762	9,496,625	33,473	SH		DFND	3	33,473	0	0
ISHARES TR	GL CLEAN ENE ETF	464288224	6,124,082	308,518	SH		DFND	3	308,518	0	0
ISHARES TR	SHORT TREAS BD	464288679	1,782,133	16,213	SH		DFND	3	16,213	0	0
ISHARES TR	FLTG RATE NT ETF	46429B655	1,489,567	29,596	SH		DFND	3	29,596	0	0
ISHARES TR	CORE HIGH DV ETF	46429B663	1,677,222	16,090	SH		DFND	3	16,090	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	12,750,870	111,889	SH		DFND	3	111,889	0	0
ISHARES TR	0-5YR INVT GR CP	46434V100	3,053,277	63,796	SH		DFND	3	63,796	0	0
ISHARES TR	0-5YR HI YL CP	46434V407	4,009,796	98,063	SH		DFND	3	98,063	0	0
ITAU UNIBANCO HLDG S A	SPON ADR REP PFD	465562106	7,030,471	1,492,669	SH		DFND	3	1,492,669	0	0
JOHNSON & JOHNSON	COM	478160104	994,716	5,631	SH		DFND	3	5,631	0	0
JPMORGAN CHASE & CO	COM	46625H100	423,622	3,159	SH		DFND	3	3,159	0	0
LI AUTO INC	SPONSORED ADS	50202M102	4,876,722	239,055	SH		DFND	3	239,055	0	0
LILLY ELI & CO	COM	532457108	691,072	1,889	SH		DFND	3	1,889	0	0
LINDE PLC	SHS	G5494J103	16,815,231	51,552	SH		DFND	3	51,552	0	0
LOCKHEED MARTIN CORP	COM	539830109	294,813	606	SH		DFND	3	606	0	0
MARATHON PETE CORP	COM	56585A102	290,393	2,495	SH		DFND	3	2,495	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	1,351,627	3,887	SH		DFND	3	3,887	0	0
MCDONALDS CORP	COM	580135101	2,207,327	8,376	SH		DFND	3	8,376	0	0
MERCK & CO INC	COM	58933Y105	378,561	3,412	SH		DFND	3	3,412	0	0
META PLATFORMS INC	CL A	30303M102	546,705	4,543	SH		DFND	3	4,543	0	0
MICRON TECHNOLOGY INC	COM	595112103	158,886	3,179	SH		DFND	3	3,179	0	0
MICROSOFT CORP	COM	594918104	4,835,970	20,165	SH		DFND	3	20,165	0	0
MOSAIC CO NEW	COM	61945C103	8,730,964	199,019	SH		DFND	3	199,019	0	0
NIKE INC	CL B	654106103	485,123	4,146	SH		DFND	3	4,146	0	0
NUTRIEN LTD	COM	67077M108	15,395,162	210,806	SH		DFND	3	210,806	0	0
NVIDIA CORPORATION	COM	67066G104	585,729	4,008	SH		DFND	3	4,008	0	0
ORACLE CORP	COM	68389X105	442,213	5,410	SH		DFND	3	5,410	0	0
PEPSICO INC	COM	713448108	957,317	5,299	SH		DFND	3	5,299	0	0
PETROLEO BRASILEIRO SA PETRO	SP ADR NON VTG	71654V101	4,241,229	456,537	SH		DFND	3	456,537	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	2,279,238	214,013	SH		DFND	3	214,013	0	0
PFIZER INC	COM	717081103	297,807	5,812	SH		DFND	3	5,812	0	0
PROCTER AND GAMBLE CO	COM	742718109	662,317	4,370	SH		DFND	3	4,370	0	0
PROGRESSIVE CORP	COM	743315103	317,141	2,445	SH		DFND	3	2,445	0	0
QUALCOMM INC	COM	747525103	217,681	1,980	SH		DFND	3	1,980	0	0
SALESFORCE INC	COM	79466L302	456,507	3,443	SH		DFND	3	3,443	0	0
SCHLUMBERGER LTD	COM STK	806857108	416,079	7,783	SH		DFND	3	7,783	0	0
SCHWAB CHARLES CORP	COM	808513105	217,558	2,613	SH		DFND	3	2,613	0	0
SEA LTD	SPONSORD ADS	81141R100	20,759,814	398,997	SH		DFND	3	398,997	0	0
SENDAS DISTRIBUIDORA S A	SPON ADS	81689T104	732,400	40,000	SH		DFND	3	40,000	0	0
SERVICENOW INC	COM	81762P102	176,275	454	SH		DFND	3	454	0	0
SHERWIN WILLIAMS CO	COM	824348106	6,353,561	26,771	SH		DFND	3	26,771	0	0
SOCIEDAD QUIMICA Y MINERA DE	SPON ADR SER B	833635105	6,671,191	83,557	SH		DFND	3	83,557	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	5,941,050	15,535	SH		DFND	3	15,535	0	0
STRYKER CORPORATION	COM	863667101	924,661	3,782	SH		DFND	3	3,782	0	0
SUNCOR ENERGY INC NEW	COM	867224107	1,285,192	40,504	SH		DFND	3	40,504	0	0
SYNOPSYS INC	COM	871607107	204,984	642	SH		DFND	3	642	0	0
TAKE-TWO INTERACTIVE SOFTWAR	COM	874054109	1,064,313	10,221	SH		DFND	3	10,221	0	0
TARGET CORP	COM	87612E106	205,526	1,379	SH		DFND	3	1,379	0	0
TDCX INC	ADS	87190U100	4,469,725	361,044	SH		DFND	3	361,044	0	0
TEXAS INSTRS INC	COM	882508104	307,805	1,863	SH		DFND	3	1,863	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	996,749	1,810	SH		DFND	3	1,810	0	0
TJX COS INC NEW	COM	872540109	1,862,640	23,400	SH		DFND	3	23,400	0	0
TRACTOR SUPPLY CO	COM	892356106	12,166,828	54,082	SH		DFND	3	54,082	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	3,695,885	6,971	SH		DFND	3	6,971	0	0
VALE S A	SPONSORED ADS	91912E105	9,279,722	546,831	SH		DFND	3	546,831	0	0
VALERO ENERGY CORP	COM	91913Y100	8,734,818	68,854	SH		DFND	3	68,854	0	0
VANECK ETF TRUST	BDC INCOME ETF	92189F411	313,635	22,165	SH		DFND	3	22,165	0	0
VANGUARD SPECIALIZED FUNDS	DIV APP ETF	921908844	1,395,046	9,187	SH		DFND	3	9,187	0	0
VANGUARD WHITEHALL FDS	HIGH DIV YLD	921946406	1,085,455	10,031	SH		DFND	3	10,031	0	0
VISA INC	COM CL A	92826C839	1,605,569	7,728	SH		DFND	3	7,728	0	0
VISTA ENERGY S.A.B. DE C.V.	SPONSORED ADS	92837L109	3,157,134	201,605	SH		DFND	3	201,605	0	0
WALMART INC	COM	931142103	295,490	2,084	SH		DFND	3	2,084	0	0
WHEATON PRECIOUS METALS CORP	COM	962879102	2,804,303	71,758	SH		DFND	3	71,758	0	0
WILLSCOT MOBIL MINI HLDNG CO	COM CL A	971378104	893,192	19,774	SH		DFND	3	19,774	0	0
YANDEX N V	SHS CLASS A	N97284108	0	1,002,695	SH		DFND	3	1,002,695	0	0
YUM CHINA HLDGS INC	COM	98850P109	8,662,735	158,513	SH		DFND	3	158,513	0	0
ZOETIS INC	CL A	98978V103	310,833	2,121	SH		DFND	3	2,121	0	0
FIRST TR EXCH TRADED FD III	PFD SECS INC ETF	33739E108	4,520,426	269,073	SH		DFND	4	269,073	0	0
FIRST TR EXCHANGE-TRADED FD	NAS CLNEDG GREEN	33733E500	5,717,446	121,158	SH		DFND	4	121,158	0	0
FIRST TR MORNINGSTAR DIVID L	SHS	336917109	26,640,541	728,680	SH		DFND	4	728,680	0	0
ISHARES INC	JP MRG EM CRP BD	464286251	4,383,755	102,520	SH		DFND	4	102,520	0	0
ISHARES TR	CORE S&P500 ETF	464287200	23,750,710	61,817	SH		DFND	4	61,817	0	0
ISHARES TR	CORE US AGGBD ET	464287226	33,348,751	343,837	SH		DFND	4	343,837	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	699,212	6,632	SH		DFND	4	6,632	0	0
ISHARES TR	GLOB HLTHCRE ETF	464287325	12,643,385	148,956	SH		DFND	4	148,956	0	0
ISHARES TR	7-10 YR TRSY BD	464287440	21,184,908	221,183	SH		DFND	4	221,183	0	0
ISHARES TR	1 3 YR TREAS BD	464287457	19,388,185	238,859	SH		DFND	4	238,859	0	0
ISHARES TR	SHORT TREAS BD	464288679	41,081,940	373,744	SH		DFND	4	373,744	0	0
ISHARES TR	FLTG RATE NT ETF	46429B655	30,599,231	607,972	SH		DFND	4	607,972	0	0
ISHARES TR	CORE HIGH DV ETF	46429B663	79,025,803	758,114	SH		DFND	4	758,114	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	17,608,301	154,513	SH		DFND	4	154,513	0	0
ISHARES TR	ESG AWR US AGRGT	46435U549	4,242,356	90,765	SH		DFND	4	90,765	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	1,574,502	11,590	SH		DFND	4	11,590	0	0
VANGUARD INDEX FDS	VALUE ETF	922908744	745,365	5,310	SH		DFND	4	5,310	0	0
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	24,656,546	286,072	SH		DFND	4	286,072	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	19,964,114	512,163	SH		DFND	4	512,163	0	0
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	17,380,093	231,149	SH		DFND	4	231,149	0	0
VANGUARD SCOTTSDALE FDS	INTER TERM TREAS	92206C706	2,934,994	50,188	SH		DFND	4	50,188	0	0
VANGUARD SPECIALIZED FUNDS	DIV APP ETF	921908844	87,210,492	574,320	SH		DFND	4	574,320	0	0
VANGUARD WHITEHALL FDS	HIGH DIV YLD	921946406	7,099,875	65,612	SH		DFND	4	65,612	0	0
WISDOMTREE TR	EMER MKT HIGH FD	97717W315	12,053,056	338,189	SH		DFND	4	338,189	0	0
ALPHABET INC	CAP STK CL A	02079K305	375,860	4,260	SH		SOLE		4,260	0	0
AMAZON COM INC	COM	023135106	159,600	1,900	SH		SOLE		1,900	0	0
ANGLOGOLD ASHANTI LIMITED	SPONSORED ADR	035128206	149,631	7,705	SH		SOLE		7,705	0	0
AUTODESK INC	COM	052769106	140,900	754	SH		SOLE		754	0	0
BARINGS BDC, INC.	COM	06759L103	111,163,400	13,639,681	SH		SOLE		13,639,681	0	0
BARINGS CORPORATE INVS	COM	05617K109	3,066,509	219,664	SH		SOLE		219,664	0	0
BARINGS GLOBAL SHORT DURATION	COM	06760L100	143,061	11,282	SH		SOLE		11,282	0	0
BARINGS PARTN INVS	SH BEN INT	06761A103	1,061,098	86,128	SH		SOLE		86,128	0	0
BARINGS PARTN INVS TRUST	COM	05616B100	1,766,737	143,404	SH		SOLE		143,404	0	0
BIOLIFE SOLUTIONS INC	COM NEW	09062W204	1,661,951	91,316	SH		SOLE		91,316	0	0
BLACKROCK TCP CAPITAL CORP	COM	09259E108	20,747,634	1,603,372	SH		SOLE		1,603,372	0	0
BLACKSTONE MORTGAGE TRUST IN	NOTE 4.750% 3/1	09257WAC4	5,963,880	6,000,000	PRN		SOLE		6,000,000	0	0
BM TECHNOLOGIES INC	CL A COM	05591L107	165,626	31,790	SH		SOLE		31,790	0	0
CURIOSITYSTREAM INC	COM CL A	23130Q107	31,841	27,931	SH		SOLE		27,931	0	0
DIGITALBRIDGE GROUP INC	NOTE 5.000% 4/1	19624RAA4	21,188,250	21,500,000	PRN		SOLE		21,500,000	0	0
DISH NETWORK CORPORATION	NOTE 3.375% 8/1	25470MAB5	35,735,394	56,889,000	PRN		SOLE		56,889,000	0	0
EOS ENERGY ENTERPRISES INC	COM CL A	29415C101	1,782,556	1,204,430	SH		SOLE		1,204,430	0	0
FIDELITY NATL INFORMATION SV	COM	31620M106	63,575	937	SH		SOLE		937	0	0
GARRETT MOTION INC	PFD CONV SER A	366505204	20,499,810	2,356,300	SH		SOLE		2,356,300	0	0
GREEN PLAINS INC	COM	393222104	14,872,288	487,616	SH		SOLE		487,616	0	0
HALLADOR ENERGY COMPANY	COM	40609P105	691,698	69,239	SH		SOLE		69,239	0	0
HDFC BANK LTD	SPONSORED ADS	40415F101	395,410	5,780	SH		SOLE		5,780	0	0
INFOSYS LTD	SPONSORED ADR	456788108	228,763	12,702	SH		SOLE		12,702	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	7,791,277	73,900	SH		SOLE		73,900	0	0
ISHARES TR	MBS ETF	464288588	751,275	8,100	SH		SOLE		8,100	0	0
ISHARES TR	ISHS 1-5YR INVS	464288646	3,826,176	76,800	SH		SOLE		76,800	0	0
ISHARES TR	FLTG RATE NT ETF	46429B655	51,890,230	1,031,000	SH		SOLE		1,031,000	0	0
ISHARES TR	MSCI QATAR ETF	46434V779	93,324	5,087	SH		SOLE		5,087	0	0
LI AUTO INC	SPONSORED ADS	50202M102	107,467	5,268	SH		SOLE		5,268	0	0
META PLATFORMS INC	CL A	30303M102	225,758	1,876	SH		SOLE		1,876	0	0
MFA FINL INC	NOTE 6.250% 6/1	55272XAA0	13,875,000	15,000,000	PRN		SOLE		15,000,000	0	0
MICRON TECHNOLOGY INC	COM	595112103	120,752	2,416	SH		SOLE		2,416	0	0
MICROSOFT CORP	COM	594918104	441,988	1,843	SH		SOLE		1,843	0	0
NVIDIA CORPORATION	COM	67066G104	167,476	1,146	SH		SOLE		1,146	0	0
ORBITAL INFRASTRUCTURE GRP I	COM	68559A109	528,352	2,681,988	SH		SOLE		2,681,988	0	0
PENNYMAC CORP	NOTE 5.500%11/0	70932AAD5	15,399,280	17,000,000	PRN		SOLE		17,000,000	0	0
QUALCOMM INC	COM	747525103	109,940	1,000	SH		SOLE		1,000	0	0
ROYAL CARIBBEAN GROUP	NOTE 4.250% 6/1	780153BB7	4,976,627	4,989,000	PRN		SOLE		4,989,000	0	0
SALESFORCE INC	COM	79466L302	137,761	1,039	SH		SOLE		1,039	0	0
SERVICENOW INC	COM	81762P102	112,987	291	SH		SOLE		291	0	0
SPDR SER TR	BLOOMBERG HIGH Y	78468R622	9,000,000	100,000	SH		SOLE		100,000	0	0
SYNOPSYS INC	COM	871607107	127,716	400	SH		SOLE		400	0	0
TAKE-TWO INTERACTIVE SOFTWAR	COM	874054109	81,846	786	SH		SOLE		786	0	0
VALARIS LIMITED	CL A	G9460G101	1,341,243	19,835	SH		SOLE		19,835	0	0
VISA INC	COM CL A	92826C839	242,248	1,166	SH		SOLE		1,166	0	0
WEATHERFORD INTL PLC	ORD SHS	G48833118	1,367,762	26,861	SH		SOLE		26,861	0	0
YUM CHINA HLDGS INC	COM	98850P109	185,701	3,398	SH		SOLE		3,398	0	0