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        <name>ABB Finance USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ford Foundation (The)</name>
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        <name>FNMA</name>
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        <name>DBGS Mortgage Trust</name>
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        <name>Amazon.com, Inc.</name>
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        <name>GSR Mortgage Loan Trust</name>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>BP Capital Markets plc</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>JP Morgan Mortgage Trust</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FirstEnergy Transmission LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CNH Industrial Capital LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Humana, Inc.</name>
        <lei>529900YLDW34GJAO4J06</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <name>GNMA</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>IMT Trust</name>
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        <name>IBM Credit LLC</name>
        <lei>549300ZNLJL43AQTG067</lei>
        <title>IBM Credit LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PerkinElmer, Inc.</name>
        <lei>549300IKL1SDPFI7N655</lei>
        <title>PerkinElmer, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YAS8</cusip>
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        <balance>48000.00000000</balance>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Asian Development Bank</name>
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        <name>Coca-Cola Co. (The)</name>
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        <name>Loomis Sayles CLO II Ltd.</name>
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        <name>FNMA</name>
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        <name>CenterPoint Energy Houston Electric LLC</name>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <name>GNMA</name>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <name>BNP Paribas SA</name>
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        <name>Harley-Davidson Financial Services, Inc.</name>
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        <name>Ambac LSNI LLC</name>
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        <name>Altria Group, Inc.</name>
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        <name>FNMA</name>
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        <name>General Dynamics Corp.</name>
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        <name>International Business Machines Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Activision Blizzard, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Johnson &amp; Johnson</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
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        <title>Credit Suisse Group Funding Guernsey Ltd.</title>
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        <issuerCat>CORP</issuerCat>
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        <name>FNMA</name>
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        <name>eBay, Inc.</name>
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        <name>GNMA</name>
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        <name>LYB International Finance III LLC</name>
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        <name>Microsoft Corp.</name>
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        <name>GlaxoSmithKline Capital plc</name>
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        <invCountry>GB</invCountry>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>Block Financial LLC</name>
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        <name>Chubb INA Holdings, Inc.</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>Chubb INA Holdings, Inc.</title>
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        <name>Campbell Soup Co.</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Reinsurance Group of America, Inc.</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America, Inc.</title>
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          <isin value="US759351AP49"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20749.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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      <invstOrSec>
        <name>Novartis Capital Corp.</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>Novartis Capital Corp.</title>
        <cusip>66989HAM0</cusip>
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          <isin value="US66989HAM07"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103762.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>Allegion US Holding Co., Inc.</name>
        <lei>5493002B66JX7J7SXI33</lei>
        <title>Allegion US Holding Co., Inc.</title>
        <cusip>01748NAE4</cusip>
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          <isin value="US01748NAE40"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52436.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bayer US Finance II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC</title>
        <cusip>07274NAX1</cusip>
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          <isin value="US07274NAX12"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105183.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northern States Power Co.</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co.</title>
        <cusip>665772CN7</cusip>
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          <isin value="US665772CN72"/>
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        <balance>32000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40156.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2020-B16, Class D</title>
        <cusip>08161NAW7</cusip>
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          <isin value="US08161NAW74"/>
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        <balance>29000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19912.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Progressive Corp. (The)</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>Progressive Corp. (The)</title>
        <cusip>743315AN3</cusip>
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          <isin value="US743315AN32"/>
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        <balance>46000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47501.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Poland</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland</title>
        <cusip>857524AC6</cusip>
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          <isin value="US857524AC63"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83199.00000000</valUSD>
        <pctVal>0.008752907641</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>Bank of Montreal, Series E</title>
        <cusip>06367WHH9</cusip>
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          <isin value="US06367WHH97"/>
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        <balance>96000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104005.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Conagra Brands, Inc.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands, Inc.</title>
        <cusip>205887CC4</cusip>
        <identifiers>
          <isin value="US205887CC49"/>
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        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>270114.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2017-COR2, Class D</title>
        <cusip>12595EAN5</cusip>
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          <isin value="US12595EAN58"/>
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        <balance>146000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104554.72000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 15 Year, Single Family</title>
        <cusip>01F032476</cusip>
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          <isin value="US01F0324768"/>
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        <balance>10856.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11400.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Concho Resources, Inc.</name>
        <lei>SYHS7HRDXLL4I0IQ8776</lei>
        <title>Concho Resources, Inc.</title>
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          <isin value="US20605PAG63"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51466.35000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49617921"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>463.58000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>HSBC Bank</counterpartyName>
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      <invstOrSec>
        <name>Brixmor Operating Partnership LP</name>
        <lei>549300CJHBL7JBUA6503</lei>
        <title>Brixmor Operating Partnership LP</title>
        <cusip>11120VAD5</cusip>
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          <isin value="US11120VAD55"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>510005.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>Bank of Montreal</title>
        <cusip>06366RJJ5</cusip>
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          <isin value="US06366RJJ59"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28249.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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      <invstOrSec>
        <name>Bunge Ltd. Finance Corp.</name>
        <lei>549300QHC068L40NNM71</lei>
        <title>Bunge Ltd. Finance Corp.</title>
        <cusip>120568BA7</cusip>
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          <isin value="US120568BA72"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54591.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>Starbucks Corp.</title>
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          <isin value="US855244AZ28"/>
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        <balance>830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>870118.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Earnest Student Loan Program LLC</name>
        <lei>N/A</lei>
        <title>Earnest Student Loan Program LLC, Series 2016-C, Class A2</title>
        <cusip>27034LAB2</cusip>
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          <isin value="US27034LAB27"/>
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        <balance>224737.13000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>222710.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.68000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>05971KAC3</cusip>
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          <isin value="US05971KAC36"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213953.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RenaissanceRe Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd.</title>
        <cusip>75968NAD3</cusip>
        <identifiers>
          <isin value="US75968NAD30"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54635.00000000</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>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Johnson Controls International plc</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
        <cusip>478375AL2</cusip>
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          <isin value="US478375AL26"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28787.65000000</valUSD>
        <pctVal>0.003028589786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SL Green Operating Partnership LP</name>
        <lei>2K1OXW4LY7IS2U150Y32</lei>
        <title>SL Green Operating Partnership LP</title>
        <cusip>78444FAF3</cusip>
        <identifiers>
          <isin value="US78444FAF36"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24785.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
        <cusip>59562VAY3</cusip>
        <identifiers>
          <isin value="US59562VAY39"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54816.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>UBS Commercial Mortgage Trust, Series 2019-C18, Class XA</title>
        <cusip>90278PBB5</cusip>
        <identifiers>
          <isin value="US90278PBB58"/>
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        <balance>995985.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67554.12000000</valUSD>
        <pctVal>0.007106996155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.17827600</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132KFAE2</cusip>
        <identifiers>
          <isin value="US3132KFAE24"/>
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        <balance>2409.99420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2540.26000000</valUSD>
        <pctVal>0.000267246735</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
        <cusip>87165BAN3</cusip>
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          <isin value="US87165BAN38"/>
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        <balance>76000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80316.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F030694</cusip>
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          <isin value="US01F0306948"/>
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        <balance>27000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28339453.80000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bear Stearns ALT-A Trust</name>
        <lei>N/A</lei>
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        <cusip>073871BL8</cusip>
        <identifiers>
          <isin value="US073871BL80"/>
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        <balance>1789278.21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1364250.56000000</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>2036-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.45207200</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BP1</cusip>
        <identifiers>
          <isin value="US871829BP11"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>233618.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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      <invstOrSec>
        <name>Textron, Inc.</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron, Inc.</title>
        <cusip>883203BV2</cusip>
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          <isin value="US883203BV22"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>566013.89000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2013-123, Class PZ</title>
        <cusip>3136AHBU3</cusip>
        <identifiers>
          <isin value="US3136AHBU37"/>
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        <balance>4827147.97000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5040398.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G0S38</cusip>
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          <isin value="US3135G0S387"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205401.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kreditanstalt fuer Wiederaufbau</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>Kreditanstalt fuer Wiederaufbau</title>
        <cusip>500769HS6</cusip>
        <identifiers>
          <isin value="US500769HS68"/>
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        <balance>90000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104749.33000000</valUSD>
        <pctVal>0.011020098931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp.</title>
        <cusip>14913Q2V0</cusip>
        <identifiers>
          <isin value="US14913Q2V06"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26977.64000000</valUSD>
        <pctVal>0.002838168623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-17</maturityDt>
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      <invstOrSec>
        <name>Asian Development Bank</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
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          <isin value="US045167DU47"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Public Service Electric &amp; Gas Co.</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric &amp; Gas Co.</title>
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          <isin value="US74456QBC96"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONEOK Partners LP</name>
        <lei>T4DHW82NMF6BXJT50795</lei>
        <title>ONEOK Partners LP</title>
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          <isin value="US68268NAJ28"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-10-01</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828U659"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Carrier Global Corp.</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corp.</title>
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          <isin value="US14448CAF14"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.24200000</annualizedRt>
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        <name>Daimler Finance North America LLC</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-05</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828V723"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>513438.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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      <invstOrSec>
        <name>VNDO Mortgage Trust</name>
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          <isin value="US91830MAL00"/>
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        <balance>100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Newmont Corp.</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <balance>269000.00000000</balance>
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      <invstOrSec>
        <name>Telos CLO Ltd.</name>
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        <invCountry>KY</invCountry>
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        <name>Cox Communications, Inc.</name>
        <lei>5493001NEDZNIFRP2R92</lei>
        <title>Cox Communications, Inc.</title>
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      <invstOrSec>
        <name>New York State Urban Development Corp.</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>New York State Urban Development Corp.</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>AEP Transmission Co. LLC</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP Transmission Co. LLC</title>
        <cusip>00115AAJ8</cusip>
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        <balance>31000.00000000</balance>
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        <valUSD>39161.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ameren Illinois Co.</name>
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      <invstOrSec>
        <name>Spirit Realty LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Time Warner Cable LLC</name>
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        <name>United States of America</name>
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          <maturityDt>2029-05-15</maturityDt>
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      <invstOrSec>
        <name>Venture XVI CLO Ltd.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Petroleos Mexicanos</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-23</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US9128286S43"/>
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          <maturityDt>2026-04-30</maturityDt>
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      <invstOrSec>
        <name>European Investment Bank</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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          <couponKind>Fixed</couponKind>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Dow Chemical Co. (The)</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Tennessee Housing Development Agency</name>
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          <maturityDt>2049-01-01</maturityDt>
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        <name>Teck Resources Ltd.</name>
        <lei>T8KI5SQ2JRWHL7XY0E11</lei>
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        <invCountry>CA</invCountry>
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        <name>Wyeth LLC</name>
        <lei>549300Q9GR3WRH4N4836</lei>
        <title>Wyeth LLC</title>
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        <name>Virginia Electric &amp; Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric &amp; Power Co.</title>
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        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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        <balance>318000.00000000</balance>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Texas Instruments, Inc.</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-22</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
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        <title>FHLMC</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>Sherwin-Williams Co. (The)</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300JPCJUA5JJLRW54</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2016-C33, Class C</title>
        <cusip>95000LBF9</cusip>
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          <isin value="US95000LBF94"/>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.89600000</annualizedRt>
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        <name>Kroger Co. (The)</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>Kroger Co. (The)</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2020-B17, Class XB</title>
        <cusip>08162MBA5</cusip>
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          <isin value="US08162MBA53"/>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.65293600</annualizedRt>
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      <invstOrSec>
        <name>US Bank NA</name>
        <lei>6BYL5QZYBDK8S7L73M02</lei>
        <title>US Bank NA</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Transit Authority</name>
        <lei>N/A</lei>
        <title>Utah Transit Authority Sales Tax Revenue Taxable, Series B</title>
        <cusip>917565LB7</cusip>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>Waste Management, Inc.</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>Waste Management, Inc.</title>
        <cusip>94106LBE8</cusip>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>California Infrastructure and Economic Development Bank Revenue Bonds, Series 2017</title>
        <cusip>13063A7D0</cusip>
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          <isin value="US13063A7D02"/>
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        <name>New York City Water &amp; Sewer System</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>City of New York Municipal Water Finance Authority, Water &amp; Sewer System, Revenue Bonds, Series BB</title>
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          <maturityDt>2044-06-15</maturityDt>
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          <annualizedRt>5.88200000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <balance>501000.00000000</balance>
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      <invstOrSec>
        <name>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi</title>
        <cusip>801060AD6</cusip>
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        <balance>25000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Shell International Finance BV</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
        <cusip>822582CD2</cusip>
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        <balance>427000.00000000</balance>
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        <valUSD>447059.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-07</maturityDt>
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          <annualizedRt>2.37500000</annualizedRt>
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      <invstOrSec>
        <name>20 Times Square Trust</name>
        <lei>N/A</lei>
        <title>20 Times Square Trust, Series 2018-20TS, Class B</title>
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          <isin value="US90137LAC46"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Mortgage Loan Resecuritization Trust</name>
        <lei>N/A</lei>
        <title>Mortgage Loan Resecuritization Trust, Series 2009-RS1, Class A85</title>
        <cusip>61914WAA4</cusip>
        <identifiers>
          <isin value="US61914WAA45"/>
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        <balance>350007.72600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302466.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.51262900</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>Commonwealth Edison Co.</name>
        <lei>D8YOXB8L2ZDC8P7Q0771</lei>
        <title>Commonwealth Edison Co.</title>
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          <isin value="US202795JN13"/>
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        <balance>124000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144449.63000000</valUSD>
        <pctVal>0.015196748401</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49427051"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-31705.07000000</valUSD>
        <pctVal>-0.00333551544</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Goldman Sachs Bank</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
        <cusip>254687FK7</cusip>
        <identifiers>
          <isin value="US254687FK79"/>
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        <balance>362000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>374602.16000000</valUSD>
        <pctVal>0.039409825944</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Discover Financial Services</name>
        <lei>Z1YLO2USPORE63VVUL20</lei>
        <title>Discover Financial Services</title>
        <cusip>254709AM0</cusip>
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          <isin value="US254709AM01"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BF3</cusip>
        <identifiers>
          <isin value="US871829BF39"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53538.93000000</valUSD>
        <pctVal>0.005632535361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4624, Class GA</title>
        <cusip>3137BSNG4</cusip>
        <identifiers>
          <isin value="US3137BSNG44"/>
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        <balance>1098160.94000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1121284.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp.</title>
        <cusip>166764AH3</cusip>
        <identifiers>
          <isin value="US166764AH30"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80295.10000000</valUSD>
        <pctVal>0.008447404348</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.19100000</annualizedRt>
          <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>Vericrest Opportunity Loan Trust</name>
        <lei>N/A</lei>
        <title>Vericrest Opportunity Loan Trust, Series 2019-NPL4, Class A1A</title>
        <cusip>92872NAA9</cusip>
        <identifiers>
          <isin value="US92872NAA90"/>
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        <balance>1069611.48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1065369.94000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.35149900</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBE4</cusip>
        <identifiers>
          <isin value="US68389XBE40"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227932.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust, Series 2018-LAQ, Class A</title>
        <cusip>46649VAA9</cusip>
        <identifiers>
          <isin value="US46649VAA98"/>
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        <balance>516032.36000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485100.35000000</valUSD>
        <pctVal>0.051034730709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.18474900</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>Dorchester Park CLO DAC</name>
        <lei>549300UGHN2HEE8W3M89</lei>
        <title>Dorchester Park CLO DAC, Series 2015-1A, Class AR</title>
        <cusip>25820NAA2</cusip>
        <identifiers>
          <isin value="US25820NAA28"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494387.50000000</valUSD>
        <pctVal>0.052011780508</pctVal>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.03524900</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Natixis Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Natixis Commercial Mortgage Securities Trust, Series 2018-FL1, Class A</title>
        <cusip>63874MAA0</cusip>
        <identifiers>
          <isin value="US63874MAA09"/>
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        <balance>212915.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199119.57000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.13362900</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K072, Class A2</title>
        <cusip>3137FEBQ2</cusip>
        <identifiers>
          <isin value="US3137FEBQ22"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11639.58000000</valUSD>
        <pctVal>0.001224535976</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.44400000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
        <cusip>912828H45</cusip>
        <identifiers>
          <isin value="US912828H458"/>
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        <balance>1567200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1784982.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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      <invstOrSec>
        <name>Reynolds American, Inc.</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>Reynolds American, Inc.</title>
        <cusip>761713AY2</cusip>
        <identifiers>
          <isin value="US761713AY21"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16686.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shinhan Bank Co. Ltd.</name>
        <lei>5493003P813VL21KG928</lei>
        <title>Shinhan Bank Co. Ltd.</title>
        <cusip>82460CAN4</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>Dow Chemical Co. (The)</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
        <title>Dow Chemical Co. (The)</title>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80856.35000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810QQ4</cusip>
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          <isin value="US912810QQ40"/>
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        <balance>3200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5088167.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132GD3M2</cusip>
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          <isin value="US3132GD3M22"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810EX29"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Voya Financial, Inc.</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial, Inc.</title>
        <cusip>929089AB6</cusip>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55248.27000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <name>JM Smucker Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-30</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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        <name>Air Canada Pass-Through Trust</name>
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        <cusip>009089AA1</cusip>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Raytheon Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828XT2</cusip>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Georgia-Pacific LLC</name>
        <lei>L2EVHWFHVAQK72TMH265</lei>
        <title>Georgia-Pacific LLC</title>
        <cusip>37331NAB7</cusip>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>142228.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cardinal Health, Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>Cardinal Health, Inc.</title>
        <cusip>14149YBA5</cusip>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54217.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Tennessee Valley Authority</name>
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        <name>BX Trust</name>
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        <name>MidAmerican Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-04-15</maturityDt>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Emera US Finance LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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        <name>International Bank for Reconstruction &amp; Development</name>
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          <maturityDt>2021-09-20</maturityDt>
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        <name>Southern California Edison Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Walt Disney Co. (The)</name>
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        <name>FNMA</name>
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        <name>Vodafone Group plc</name>
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        <invCountry>GB</invCountry>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Lloyds Banking Group plc</name>
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        <invCountry>GB</invCountry>
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        <name>Odebrecht Drilling Norbe VIII/IX Ltd.</name>
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        <invCountry>KY</invCountry>

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        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
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        <name>Boston Scientific Corp.</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
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        <name>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
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        <name>Molson Coors Beverage Co.</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>GSAA Home Equity Trust</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <name>Exxon Mobil Corp.</name>
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        <name>Ryder System, Inc.</name>
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        <name>Charter Communications Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Aircastle Ltd.</name>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>AstraZeneca plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominion Energy Gas Holdings LLC</name>
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        <name>Apple, Inc.</name>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>Shire Acquisitions Investments Ireland DAC</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Sudbury Mill CLO Ltd.</name>
        <lei>2549002BXC788OTPUW39</lei>
        <title>Sudbury Mill CLO Ltd., Series 2013-1A, Class A2R</title>
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          <isin value="US864662AN19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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          <isin value="US60687YAH27"/>
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        <balance>208000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>215268.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-28</maturityDt>
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      <invstOrSec>
        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
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          <isin value="US931142EQ27"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>314300.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>N/A</cusip>
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          <isin value="XS1472663670"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.80703736"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Michigan Finance Authority</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>Michigan Finance Authority</title>
        <cusip>59447TMD2</cusip>
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          <isin value="US59447TMD27"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24166.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300VHRKFNCWVN9Y77</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2018-C47, Class A4</title>
        <cusip>95002DBG3</cusip>
        <identifiers>
          <isin value="US95002DBG34"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35700.23000000</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>2061-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.44200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087K94</cusip>
        <identifiers>
          <isin value="CA135087K940"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.35760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Tampa Electric Co.</name>
        <lei>WS423EPRKJIIJUITXD73</lei>
        <title>Tampa Electric Co.</title>
        <cusip>875127BF8</cusip>
        <identifiers>
          <isin value="US875127BF88"/>
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        <balance>59000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76832.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jamestown CLO IV Ltd.</name>
        <lei>2549008V3F2S2MZWTX88</lei>
        <title>Jamestown CLO IV Ltd., Series 2014-4A, Class A1CR</title>
        <cusip>470474AU1</cusip>
        <identifiers>
          <isin value="US470474AU14"/>
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        <balance>77362.32000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77123.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.90887800</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138A15P2</cusip>
        <identifiers>
          <isin value="US3138A15P29"/>
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        <balance>385294.79090000</balance>
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        <curCd>USD</curCd>
        <valUSD>421760.25000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138LTFX1</cusip>
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          <isin value="US3138LTFX15"/>
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        <balance>1714.51150000</balance>
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        <curCd>USD</curCd>
        <valUSD>1868.63000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36196FZE7</cusip>
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          <isin value="US36196FZE77"/>
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        <balance>10883.53890000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828Z94</cusip>
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          <isin value="US912828Z948"/>
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        <balance>11950000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Time Warner Cable LLC</name>
        <lei>549300U5NFR7S6E3GM41</lei>
        <title>Time Warner Cable LLC</title>
        <cusip>88732JAX6</cusip>
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          <isin value="US88732JAX63"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70463.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Simon Property Group LP</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>Simon Property Group LP</title>
        <cusip>828807CW5</cusip>
        <identifiers>
          <isin value="US828807CW58"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80197.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Energy Transfer Partners LP</name>
        <lei>N/A</lei>
        <title>Energy Transfer Partners LP</title>
        <cusip>75886AAL2</cusip>
        <identifiers>
          <isin value="US75886AAL26"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42297.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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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>Canadian Natural Resources Ltd.</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>Canadian Natural Resources Ltd.</title>
        <cusip>136385AW1</cusip>
        <identifiers>
          <isin value="US136385AW17"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51616.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Willis North America, Inc.</name>
        <lei>5493004KVU1HWZCP0C66</lei>
        <title>Willis North America, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
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      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>Bank of Montreal</name>
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          <isin value="US06367WJM64"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52023.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <name>Pfizer, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>Apple, Inc.</name>
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        <title>Apple, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-04</maturityDt>
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          <annualizedRt>3.85000000</annualizedRt>
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        <name>Truist Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-06</maturityDt>
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        <name>Concho Resources, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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        <name>Residential Asset Securitization Trust</name>
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        <name>United States of America</name>
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          <maturityDt>2023-02-15</maturityDt>
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        <name>FNMA</name>
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        <title>UMBS</title>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Shire Acquisitions Investments Ireland DAC</name>
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        <invCountry>IE</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <name>Shell International Finance BV</name>
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        <name>Transcontinental Gas Pipe Line Co. LLC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>VOLT LXXXIII LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
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          <isin value="US06540AAE10"/>
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        <balance>159504.02000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-09-15</maturityDt>
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          <annualizedRt>0.96343200</annualizedRt>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US6174468J17"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.72000200</annualizedRt>
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      <invstOrSec>
        <name>CFIP CLO Ltd.</name>
        <lei>5493003ORZILO44YJI07</lei>
        <title>CFIP CLO Ltd., Series 2013-1A, Class AR</title>
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          <isin value="US12528AAL98"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492320.50000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-20</maturityDt>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2019-SST2, Class D</title>
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          <isin value="US17327XAG25"/>
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        <balance>453000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>433139.71000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.78475000</annualizedRt>
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      <invstOrSec>
        <name>Venture XVII CLO Ltd.</name>
        <lei>549300SNYYGJ2M6QEK53</lei>
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        <cusip>92329YAL0</cusip>
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          <isin value="US92329YAL02"/>
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        <balance>496156.03000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-15</maturityDt>
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          <annualizedRt>2.09887900</annualizedRt>
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      <invstOrSec>
        <name>Medtronic, Inc.</name>
        <lei>D56MRZY2INAN94ZONZ37</lei>
        <title>Medtronic, Inc.</title>
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          <isin value="US585055BR69"/>
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        <balance>40000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122BZ0</cusip>
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          <isin value="US110122BZ08"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167571.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J5GJ2</cusip>
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          <isin value="US3140J5GJ21"/>
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        <balance>41787.82490000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Textron, Inc.</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron, Inc.</title>
        <cusip>883203BX8</cusip>
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          <isin value="US883203BX87"/>
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        <balance>45000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>CD Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CD Mortgage Trust, Series 2017-CD4, Class A4</title>
        <cusip>12515DAR5</cusip>
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          <isin value="US12515DAR52"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-10</maturityDt>
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      <invstOrSec>
        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
        <lei>549300PXR5FKNXF0OH19</lei>
        <title>Credit Suisse Group Funding Guernsey Ltd.</title>
        <cusip>225433AR2</cusip>
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          <isin value="US225433AR25"/>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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        <name>Driver Australia Five Trust</name>
        <lei>5493009UHP79HZ6V0Y89</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>State of Qatar</name>
        <lei>52990074F6OJOAXK4P65</lei>
        <title>State of Qatar</title>
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        <balance>500000.00000000</balance>
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        <invCountry>QA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
        <cusip>404119BT5</cusip>
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        <balance>25000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ERRX0</cusip>
        <identifiers>
          <isin value="US3138ERRX04"/>
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        <balance>12327.64630000</balance>
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        <curCd>USD</curCd>
        <valUSD>13960.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>Volkswagen Group of America Finance LLC</title>
        <cusip>928668AV4</cusip>
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          <isin value="US928668AV40"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500197.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.20350200</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCMS Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Trust, Series 2018-CBM, Class A</title>
        <cusip>05549RAA5</cusip>
        <identifiers>
          <isin value="US05549RAA59"/>
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        <balance>223000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203352.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.18474900</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stanley Black &amp; Decker, Inc.</name>
        <lei>549300DJ09SMTO561131</lei>
        <title>Stanley Black &amp; Decker, Inc.</title>
        <cusip>854502AD3</cusip>
        <identifiers>
          <isin value="US854502AD32"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37966.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <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>Export-Import Bank of Korea</name>
        <lei>549300APVP4R32PI3Y06</lei>
        <title>Export-Import Bank of Korea</title>
        <cusip>302154CK3</cusip>
        <identifiers>
          <isin value="US302154CK32"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103062.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aon plc</name>
        <lei>635400FALWQYX5E6QC64</lei>
        <title>Aon plc</title>
        <cusip>00185AAH7</cusip>
        <identifiers>
          <isin value="US00185AAH77"/>
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        <balance>13000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16231.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
        <cusip>863667AY7</cusip>
        <identifiers>
          <isin value="US863667AY70"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201247.82000000</valUSD>
        <pctVal>0.021172172519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95000000</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>Evans Grove CLO Ltd.</name>
        <lei>549300O71GCRFBJILJ09</lei>
        <title>Evans Grove CLO Ltd., Series 2018-1A, Class A1</title>
        <cusip>29915RAA1</cusip>
        <identifiers>
          <isin value="US29915RAA14"/>
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        <balance>495762.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>486634.09000000</valUSD>
        <pctVal>0.051196087031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.29125200</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282P4</cusip>
        <identifiers>
          <isin value="US9128282P40"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>465971.09000000</valUSD>
        <pctVal>0.049022246833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</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>Tyco Electronics Group SA</name>
        <lei>C33G1C5SYE2YM95EE712</lei>
        <title>Tyco Electronics Group SA</title>
        <cusip>902133AR8</cusip>
        <identifiers>
          <isin value="US902133AR89"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21705.86000000</valUSD>
        <pctVal>0.002283553742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</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>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967MR9</cusip>
        <identifiers>
          <isin value="US172967MR94"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>762980.55000000</valUSD>
        <pctVal>0.080268973020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.67800000</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>American Express Credit Corp.</name>
        <lei>9ET6B8VCXWW51H8Z3M54</lei>
        <title>American Express Credit Corp.</title>
        <cusip>0258M0EL9</cusip>
        <identifiers>
          <isin value="US0258M0EL96"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>311017.22000000</valUSD>
        <pctVal>0.032720405311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828UN8</cusip>
        <identifiers>
          <isin value="US912828UN88"/>
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        <balance>725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>759628.54000000</valUSD>
        <pctVal>0.079916326546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New York City Water &amp; Sewer System</name>
        <lei>N/A</lei>
        <title>New York City Water &amp; Sewer System</title>
        <cusip>64972GTR5</cusip>
        <identifiers>
          <isin value="US64972GTR55"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153490.50000000</valUSD>
        <pctVal>0.016147888440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japan Bank for International Cooperation</name>
        <lei>549300TJ3QFYVCTSCJ29</lei>
        <title>Japan Bank for International Cooperation</title>
        <cusip>471048BV9</cusip>
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          <isin value="US471048BV90"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239649.24000000</valUSD>
        <pctVal>0.025212173992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Omnicom Group, Inc.</name>
        <lei>N/A</lei>
        <title>Omnicom Group, Inc.</title>
        <cusip>681919BA3</cusip>
        <identifiers>
          <isin value="US681919BA38"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11053.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135FAD3</cusip>
        <identifiers>
          <isin value="US11135FAD33"/>
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        <balance>142000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152070.43000000</valUSD>
        <pctVal>0.015998490712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VCQ5</cusip>
        <identifiers>
          <isin value="US92343VCQ59"/>
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        <balance>113000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139695.18000000</valUSD>
        <pctVal>0.014696558954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2017-DELC, Class E</title>
        <cusip>05552EAN0</cusip>
        <identifiers>
          <isin value="US05552EAN04"/>
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        <balance>122000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106769.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.68475000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Duke Realty LP</name>
        <lei>2549009GZDBNY1KE9O81</lei>
        <title>Duke Realty LP</title>
        <cusip>26441YAZ0</cusip>
        <identifiers>
          <isin value="US26441YAZ07"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32841.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BP Capital Markets plc</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP Capital Markets plc</title>
        <cusip>05565QDB1</cusip>
        <identifiers>
          <isin value="US05565QDB14"/>
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        <balance>77000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84137.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.11900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Weyerhaeuser Co.</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>Weyerhaeuser Co.</title>
        <cusip>962166BW3</cusip>
        <identifiers>
          <isin value="US962166BW36"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55624.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J6E29</cusip>
        <identifiers>
          <isin value="US3140J6E293"/>
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        <balance>72656.92000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79733.13000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Union Electric Co.</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>Union Electric Co.</title>
        <cusip>906548CR1</cusip>
        <identifiers>
          <isin value="US906548CR12"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278503.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
        <cusip>80281LAE5</cusip>
        <identifiers>
          <isin value="US80281LAE56"/>
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        <balance>744000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>760355.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities, Inc.</title>
        <cusip>29670GAD4</cusip>
        <identifiers>
          <isin value="US29670GAD43"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209331.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMSR Trust</name>
        <lei>N/A</lei>
        <title>AMSR Trust, Series 2019-SFR1, Class E</title>
        <cusip>00178XAE3</cusip>
        <identifiers>
          <isin value="US00178XAE31"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2839427.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.47100100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A5</title>
        <cusip>61690VAZ1</cusip>
        <identifiers>
          <isin value="US61690VAZ13"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10891.89000000</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>2048-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.53100000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
        <cusip>28370TAE9</cusip>
        <identifiers>
          <isin value="US28370TAE91"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46759.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179SEG8</cusip>
        <identifiers>
          <isin value="US36179SEG84"/>
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        <balance>117777.28280000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125197.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QA4A5</cusip>
        <identifiers>
          <isin value="US3140QA4A56"/>
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        <balance>580625.91250000</balance>
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        <curCd>USD</curCd>
        <valUSD>666040.28000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2C6</cusip>
        <identifiers>
          <isin value="US95000U2C66"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54628.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>949746SA0</cusip>
        <identifiers>
          <isin value="US949746SA05"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101753.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2019-C52, Class C</title>
        <cusip>95002MBC2</cusip>
        <identifiers>
          <isin value="US95002MBC29"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24890.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.56100000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RH3</cusip>
        <identifiers>
          <isin value="US912810RH32"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1090893.84000000</valUSD>
        <pctVal>0.114766920612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</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>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967HT1</cusip>
        <identifiers>
          <isin value="US172967HT16"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Textron, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Williams Cos., Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLB</name>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
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          <isin value="US81743PBW59"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US17323CAK36"/>
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        <balance>320000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2016-3, Class AA</title>
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          <isin value="US023771R919"/>
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        <balance>4234.10000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alabama Power Co.</name>
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        <title>Alabama Power Co., Series B</title>
        <cusip>010392FR4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2019-1, Class A</title>
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          <isin value="US02378MAA99"/>
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      <invstOrSec>
        <name>Thermo Fisher Scientific, Inc.</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>Thermo Fisher Scientific, Inc.</title>
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        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
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      <invstOrSec>
        <name>Boardwalk Pipelines LP</name>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WGYM0</cusip>
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        <balance>52759.83850000</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Standard Chartered plc</name>
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        <name>Microsoft Corp.</name>
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        <name>FNMA</name>
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        <name>Fiserv, Inc.</name>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Mitsubishi Corp.</name>
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        <name>United States of America</name>
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        <name>NiSource, Inc.</name>
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        <name>Aon Corp.</name>
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        <name>United States of America</name>
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        <name>University of California</name>
        <lei>N/A</lei>
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        <name>Biogen, Inc.</name>
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        <name>United States of America</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Truist Financial Corp.</name>
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        <name>Nutrien Ltd.</name>
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        <name>George Washington University (The)</name>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Virginia Electric &amp; Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
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          <isin value="US3137FDDJ87"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-11</maturityDt>
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      <invstOrSec>
        <name>Aon plc</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-14</maturityDt>
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      <invstOrSec>
        <name>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>Steel Dynamics, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
        <cusip>3140Q9DM2</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sands China Ltd.</name>
        <lei>549300EVO6UZDGY05787</lei>
        <title>Sands China Ltd.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>UBS Commercial Mortgage Trust, Series 2019-C16, Class B</title>
        <cusip>90276YAJ2</cusip>
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          <isin value="US90276YAJ29"/>
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          <couponKind>Variable</couponKind>
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        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
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      <invstOrSec>
        <name>NXP BV</name>
        <lei>N/A</lei>
        <title>NXP BV</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Novartis Capital Corp.</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>Novartis Capital Corp.</title>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US08161NAJ63"/>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J8GB3</cusip>
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          <isin value="US3140J8GB34"/>
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        <balance>209428.99000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <name>Maryland Health &amp; Higher Educational Facilities Authority</name>
        <lei>N/A</lei>
        <title>Maryland Health &amp; Higher Educational Facilities Authority</title>
        <cusip>574218UU5</cusip>
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        <balance>20000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RJ9</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1338837.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2016-2, Class B</title>
        <cusip>90933JAA9</cusip>
        <identifiers>
          <isin value="US90933JAA97"/>
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        <balance>3929.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2854.05000000</valUSD>
        <pctVal>0.000300258849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</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>Baltimore Gas &amp; Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
        <title>Baltimore Gas &amp; Electric Co.</title>
        <cusip>059165EJ5</cusip>
        <identifiers>
          <isin value="US059165EJ51"/>
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        <balance>33000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38038.31000000</valUSD>
        <pctVal>0.004001800673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179RD71</cusip>
        <identifiers>
          <isin value="US36179RD719"/>
        </identifiers>
        <balance>56854.25580000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61000.41000000</valUSD>
        <pctVal>0.006417516494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F050676</cusip>
        <identifiers>
          <isin value="US01F0506760"/>
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        <balance>574000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>626914.99000000</valUSD>
        <pctVal>0.065954266354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New York City Water &amp; Sewer System</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>City of New York Municipal Water Finance Authority, Water &amp; Sewer System, Revenue Bonds, Series 2010GG</title>
        <cusip>64972FT30</cusip>
        <identifiers>
          <isin value="US64972FT309"/>
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        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162084.30000000</valUSD>
        <pctVal>0.017051994711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.72400000</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>Republic of the Philippines</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>Republic of Philippines</title>
        <cusip>718286CJ4</cusip>
        <identifiers>
          <isin value="US718286CJ41"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210000.00000000</valUSD>
        <pctVal>0.022092941077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45700000</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>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>34540RAC0</cusip>
        <identifiers>
          <isin value="US34540RAC07"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597000.00000000</valUSD>
        <pctVal>0.062807075348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.22663200</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>Marathon Petroleum Corp.</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp.</title>
        <cusip>56585ABC5</cusip>
        <identifiers>
          <isin value="US56585ABC53"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115378.19000000</valUSD>
        <pctVal>0.012138302634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>Northern States Power Co.</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co.</title>
        <cusip>665772CS6</cusip>
        <identifiers>
          <isin value="US665772CS69"/>
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        <balance>13000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13223.25000000</valUSD>
        <pctVal>0.001391145157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RB6</cusip>
        <identifiers>
          <isin value="US912810RB61"/>
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        <balance>2680000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3501251.43000000</valUSD>
        <pctVal>0.368347340664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280CE7</cusip>
        <identifiers>
          <isin value="US404280CE72"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207122.38000000</valUSD>
        <pctVal>0.021790202557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.63300000</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>Yale University</name>
        <lei>9SFB6DIM0FRWV0EV8S84</lei>
        <title>Yale University, Series 2020</title>
        <cusip>98459LAB9</cusip>
        <identifiers>
          <isin value="US98459LAB99"/>
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        <balance>69000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69705.85000000</valUSD>
        <pctVal>0.007333367794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.48200000</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>DuBois Hospital Authority</name>
        <lei>969500JVY8OE3AI71610</lei>
        <title>Hospital Authority Of The City Of Dubois Hospital Revenue Bonds, Series 2018</title>
        <cusip>263804BM7</cusip>
        <identifiers>
          <isin value="US263804BM70"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23206.20000000</valUSD>
        <pctVal>0.002441396234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CPI Property Group SA</name>
        <lei>222100CO2ZOTEPGJO223</lei>
        <title>CPI Property Group SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1693959931"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89007565"/>
        <valUSD>449821.32000000</valUSD>
        <pctVal>0.047323218657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</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>LCCM Mortgage Trust</name>
        <lei>549300LIDRVT45XGLR93</lei>
        <title>LCCM Mortgage Trust, Series 2014-909, Class A</title>
        <cusip>50185VAA1</cusip>
        <identifiers>
          <isin value="US50185VAA17"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100441.58000000</valUSD>
        <pctVal>0.010566904326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.38800000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WFNC6</cusip>
        <identifiers>
          <isin value="US3138WFNC62"/>
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        <balance>21392.67660000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22557.17000000</valUSD>
        <pctVal>0.002373115369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EJXL7</cusip>
        <identifiers>
          <isin value="US3138EJXL75"/>
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        <balance>28289.69000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31514.22000000</valUSD>
        <pctVal>0.003315437169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Asian Infrastructure Investment Bank (The)</name>
        <lei>25490065OSV2524LCR32</lei>
        <title>Asian Infrastructure Investment Bank (The)</title>
        <cusip>04522KAB2</cusip>
        <identifiers>
          <isin value="US04522KAB26"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99123.78000000</valUSD>
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        <name>Cimarex Energy Co.</name>
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        <name>FNMA</name>
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        <name>Fortune Brands Home &amp; Security, Inc.</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Nissan Motor Acceptance Corp.</name>
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        <name>Unilever Capital Corp.</name>
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        <name>Prologis LP</name>
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        <title>Prologis LP</title>
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        <name>Banc of America Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>ViacomCBS, Inc.</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>ViacomCBS, Inc.</title>
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        <name>BX Trust</name>
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        <balance>47026.21000000</balance>
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        <name>Rosslyn Portfolio Trust</name>
        <lei>N/A</lei>
        <title>Rosslyn Portfolio Trust, Series 2017-ROSS, Class A</title>
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        <balance>108000.00000000</balance>
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        <name>VEREIT Operating Partnership LP</name>
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        <name>FNMA</name>
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        <name>Entergy Arkansas LLC</name>
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        <name>FNMA</name>
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        <name>American Electric Power Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-20</maturityDt>
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        <name>Toronto-Dominion Bank (The)</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United States Small Business Administration</name>
        <lei>N/A</lei>
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          <isin value="US83162CNM19"/>
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        <name>Lloyds Banking Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>John Deere Capital Corp.</name>
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        <title>John Deere Capital Corp.</title>
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        <name>DuPont de Nemours, Inc.</name>
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        <title>DuPont de Nemours, Inc.</title>
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        <name>Duke Energy Corp.</name>
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        <title>Duke Energy Corp.</title>
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        <name>Shire Acquisitions Investments Ireland DAC</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>01N052673</cusip>
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          <isin value="US01N0526739"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>270663.78000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ERYX2</cusip>
        <identifiers>
          <isin value="US3138ERYX21"/>
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        <balance>171916.87730000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>190057.05000000</valUSD>
        <pctVal>0.019994853366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418WXH8</cusip>
        <identifiers>
          <isin value="US31418WXH86"/>
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        <balance>38384.95590000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42149.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162CP3</cusip>
        <identifiers>
          <isin value="US031162CP32"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103575.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31370Q6L8</cusip>
        <identifiers>
          <isin value="US31370Q6L89"/>
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        <balance>8850.88510000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8796.62000000</valUSD>
        <pctVal>0.000925443844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.23400200</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>Scholar Funding Trust</name>
        <lei>N/A</lei>
        <title>Scholar Funding Trust, Series 2013-A, Class A</title>
        <cusip>80705XAA5</cusip>
        <identifiers>
          <isin value="US80705XAA54"/>
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        <balance>123309.12900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114526.82000000</valUSD>
        <pctVal>0.012048734695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.81950000</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>Sabra Health Care LP</name>
        <lei>549300OVKLRFSIQG0H81</lei>
        <title>Sabra Health Care LP</title>
        <cusip>78572XAF8</cusip>
        <identifiers>
          <isin value="US78572XAF87"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
        <pctVal>0.052602240660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>Steel Dynamics, Inc.</title>
        <cusip>858119BD1</cusip>
        <identifiers>
          <isin value="US858119BD11"/>
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        <balance>93000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95586.14000000</valUSD>
        <pctVal>0.010056090280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>CSX Corp.</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX Corp.</title>
        <cusip>126408GK3</cusip>
        <identifiers>
          <isin value="US126408GK35"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6987.83000000</valUSD>
        <pctVal>0.000735151030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</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>Interpublic Group of Cos., Inc. (The)</name>
        <lei>5493008IUOJ5VWTRC333</lei>
        <title>Interpublic Group of Cos., Inc. (The)</title>
        <cusip>460690BQ2</cusip>
        <identifiers>
          <isin value="US460690BQ26"/>
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        <balance>22000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24172.98000000</valUSD>
        <pctVal>0.002543105822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
        <cusip>86562MAQ3</cusip>
        <identifiers>
          <isin value="US86562MAQ33"/>
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        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>129989.18000000</valUSD>
        <pctVal>0.013675444259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.78400000</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>Sutter Health</name>
        <lei>549300MJCC12LU768G81</lei>
        <title>Sutter Health, Series 2018</title>
        <cusip>86944BAD5</cusip>
        <identifiers>
          <isin value="US86944BAD55"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11207.00000000</valUSD>
        <pctVal>0.001179026622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.69500000</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>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies, Inc.</title>
        <cusip>776743AD8</cusip>
        <identifiers>
          <isin value="US776743AD85"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34161.68000000</valUSD>
        <pctVal>0.003593961825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</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>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>78015K7D0</cusip>
        <identifiers>
          <isin value="US78015K7D03"/>
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        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67068.98000000</valUSD>
        <pctVal>0.007055957253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F040685</cusip>
        <identifiers>
          <isin value="US01F0406854"/>
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        <balance>9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9542460.60000000</valUSD>
        <pctVal>1.003909617940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CenterPoint Energy Resources Corp.</name>
        <lei>2JADVB0458J06WCD4N56</lei>
        <title>CenterPoint Energy Resources Corp.</title>
        <cusip>15189WAK6</cusip>
        <identifiers>
          <isin value="US15189WAK62"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>533841.20000000</valUSD>
        <pctVal>0.056162486553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QC6A9</cusip>
        <identifiers>
          <isin value="US3140QC6A92"/>
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        <balance>214694.71940000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232565.20000000</valUSD>
        <pctVal>0.024466901239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of Colorado</name>
        <lei>N/A</lei>
        <title>State Of Colorado Building Excellent Schools Today Certificates Of Participation, Series 2018N</title>
        <cusip>19668QLC7</cusip>
        <identifiers>
          <isin value="US19668QLC77"/>
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        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>379542.30000000</valUSD>
        <pctVal>0.039929550810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>EOG Resources, Inc.</name>
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        <name>Target Corp.</name>
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        <name>Air Lease Corp.</name>
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        <name>United States of America</name>
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        <name>Comcast Corp.</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>United Mexican States</name>
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        <name>FNMA</name>
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        <name>Shell International Finance BV</name>
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        <name>Plains All American Pipeline LP</name>
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        <name>US Bancorp</name>
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        <name>Applied Materials, Inc.</name>
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        <name>GNMA</name>
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        <name>Diamondback Energy, Inc.</name>
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        <name>Russian Federation</name>
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        <name>Raytheon Technologies Corp.</name>
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        <name>FNMA</name>
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        <name>Union Pacific Railroad Co. Pass-Through Trust</name>
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        <name>FNMA</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>RASC Trust</name>
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        <name>Total Capital International SA</name>
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        <name>Sprint Spectrum Co. LLC</name>
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        <name>FNMA</name>
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        <name>Boeing Co. (The)</name>
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        <name>RELX Capital, Inc.</name>
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        <name>American International Group, Inc.</name>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <name>Province of British Columbia Canada</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Odebrecht Drilling Norbe VIII/IX Ltd.</name>
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        <name>Comerica, Inc.</name>
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        <name>RASC Trust</name>
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        <name>Norfolk Southern Corp.</name>
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        <name>FNMA</name>
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        <name>Private Export Funding Corp.</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <name>FHLMC</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <name>BP Capital Markets plc</name>
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        <name>Virginia Electric &amp; Power Co.</name>
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        <name>FHLMC</name>
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        <name>FFCB</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>FNMA</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Santander UK plc</name>
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        <name>FNMA</name>
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        <name>Exantas Capital Corp. Ltd.</name>
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        <name>Parker-Hannifin Corp.</name>
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        <name>Walgreens Boots Alliance, Inc.</name>
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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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      <invstOrSec>
        <name>FHLMC</name>
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      <invstOrSec>
        <name>Discovery Communications LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Banque Federative du Credit Mutuel SA</name>
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        <name>CSX Corp.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <title>Kreditanstalt fuer Wiederaufbau</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Credit Suisse Group Funding Guernsey Ltd.</name>
        <lei>549300PXR5FKNXF0OH19</lei>
        <title>Credit Suisse Group Funding Guernsey Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Oregon School Boards Association</name>
        <lei>N/A</lei>
        <title>Oregon School Boards Association</title>
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        <name>Russian Federation</name>
        <lei>5493004EHVGF71PDBU58</lei>
        <title>Russian Federation</title>
        <cusip>N/A</cusip>
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        <invCountry>RU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>United Airlines Pass-Through Trust</name>
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          <isin value="US90932LAA52"/>
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        <name>N/A</name>
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        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05492NAG88"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Ventas Realty LP</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>Ventas Realty LP</title>
        <cusip>92277GAP2</cusip>
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        <balance>25000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
        <cusip>125523BU3</cusip>
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          <isin value="US125523BU30"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21269.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Embraer Netherlands Finance BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aon Corp.</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aircastle Ltd.</name>
        <lei>549300PNK8AKY3OIKP58</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United Mexican States</name>
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        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>National Rural Utilities Cooperative Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TWDC Enterprises 18 Corp.</name>
        <lei>7260JQNI6SCF9FIV2392</lei>
        <title>TWDC Enterprises 18 Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>82847.20000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>Equinor ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>Equinor ASA</title>
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        <curCd>USD</curCd>
        <valUSD>115134.42000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>NO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <name>Apple, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
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        <valUSD>24822.02000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Unibail-Rodamco-Westfield SE</name>
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        <name>KeyBank NA</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
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        <name>Walgreen Co.</name>
        <lei>E1OI0SEUGJMPPTKRDD35</lei>
        <title>Walgreen Co.</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>Applied Materials, Inc.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>Applied Materials, Inc.</title>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc.</title>
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      <invstOrSec>
        <name>Aon Corp.</name>
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        <title>Aon Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>DTE Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
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        <name>FHLMC</name>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US68389XBW48"/>
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        <balance>208000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138EKHM0</cusip>
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          <isin value="US3138EKHM06"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>Volkswagen Group of America Finance LLC</title>
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          <isin value="US928668AP71"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>520508.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-12</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <balance>239000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <name>European Investment Bank</name>
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        <invCountry>US</invCountry>

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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
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          <annualizedRt>3.80000000</annualizedRt>
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        <name>Trinity Square plc</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Sempra Energy</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra Energy</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G0ZR7</cusip>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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        <debtSec>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G0V75</cusip>
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        <balance>100000.00000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132Y1WP9</cusip>
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          <isin value="US3132Y1WP98"/>
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        <balance>164241.38300000</balance>
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        <curCd>USD</curCd>
        <valUSD>182562.13000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2007-A1, Class 3A3</title>
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          <isin value="US46630GAJ40"/>
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        <balance>37666.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36598.59000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
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          <isin value="US713448CT37"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81584.84000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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          <isin value="US3128M9WN87"/>
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        <balance>32945.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38668.46000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WHE32</cusip>
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          <isin value="US3138WHE324"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2016-81, Class PA</title>
        <cusip>3136AT5V2</cusip>
        <identifiers>
          <isin value="US3136AT5V29"/>
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        <balance>1723844.83000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1789185.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WQK92</cusip>
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          <isin value="US3138WQK926"/>
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        <balance>2277.21100000</balance>
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        <curCd>USD</curCd>
        <valUSD>2471.95000000</valUSD>
        <pctVal>0.000260060217</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>Duke Energy Florida LLC</title>
        <cusip>26444HAH4</cusip>
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          <isin value="US26444HAH49"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248398.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GSAA Home Equity Trust</name>
        <lei>N/A</lei>
        <title>GSAA Home Equity Trust, Series 2006-5, Class 2A1</title>
        <cusip>362334GR9</cusip>
        <identifiers>
          <isin value="US362334GR95"/>
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        <balance>13030.27700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6175.50000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.25449800</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172AU3</cusip>
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          <isin value="US718172AU37"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5695.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49619253"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>51564.10000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Citibank</counterpartyName>
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      <invstOrSec>
        <name>WPP Finance 2010</name>
        <lei>549300OJB3S151W7KN44</lei>
        <title>WPP Finance 2010</title>
        <cusip>92936MAC1</cusip>
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          <isin value="US92936MAC10"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28115.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Nomura Asset Acceptance Corp. Alternative Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>65535VSM1</cusip>
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          <isin value="US65535VSM18"/>
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        <balance>2713578.72000000</balance>
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        <valUSD>1195737.92000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.55900100</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2B8</cusip>
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          <isin value="US95000U2B83"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77965.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36196FZG2</cusip>
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          <isin value="US36196FZG26"/>
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        <balance>10136.60320000</balance>
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        <curCd>USD</curCd>
        <valUSD>11031.04000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>1211 Avenue of the Americas Trust</name>
        <lei>N/A</lei>
        <title>1211 Avenue of the Americas Trust, Series 2015-1211, Class D</title>
        <cusip>90117PAN5</cusip>
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          <isin value="US90117PAN50"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103139.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.28017000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Entergy Corp.</name>
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        <name>Discovery Communications LLC</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>FHLB</name>
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        <name>Dollar General Corp.</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Duke Energy Florida LLC</name>
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        <name>3M Co.</name>
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        <name>FNMA</name>
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        <name>Berkshire Hathaway, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FNMA</name>
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        <name>Avangrid, Inc.</name>
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        <name>Boeing Co. (The)</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>FNMA</name>
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        <name>Ohio Power Co.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Cintas Corp. No. 2</name>
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        <name>GLP Capital LP</name>
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          <couponKind>Fixed</couponKind>
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        <name>Union Pacific Corp.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3138EPLG78"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US12624XAE85"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-03-10</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GGL77"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Campbell Soup Co.</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>Campbell Soup Co.</title>
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        <balance>25000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-02-27</maturityDt>
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        <name>Aetna, Inc.</name>
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        <title>Aetna, Inc.</title>
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        <name>Halliburton Co.</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>FirstEnergy Corp.</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp., Series B</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>4517000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
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          <isin value="US22822VAS07"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.35000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US31402QYX32"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
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          <isin value="US3132L8HE09"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3140J9AP6</cusip>
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          <isin value="US3140J9AP66"/>
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        <balance>2594461.24000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2685626.98000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.70400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418BKY1</cusip>
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          <isin value="US31418BKY10"/>
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        <balance>1533185.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1640342.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Clorox Co. (The)</name>
        <lei>54930044KVSC06Z79I06</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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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>Alabama Power Co.</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>Alabama Power Co.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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      <invstOrSec>
        <name>Intercontinental Exchange, Inc.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange, Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-21</maturityDt>
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        <name>FNMA</name>
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          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>American University (The)</name>
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        <title>American University (The), Series 2019</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Carrier Global Corp.</name>
        <lei>549300JE3W6CWY2NAN77</lei>
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          <maturityDt>2023-02-15</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3138WC7G22"/>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <name>Ryder System, Inc.</name>
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        <name>GNMA</name>
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        <name>American Home Mortgage Investment Trust</name>
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        <name>Republic of Indonesia</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US12596WAJ36"/>
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        <balance>50000.00000000</balance>
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          <couponKind>Variable</couponKind>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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        <name>PACCAR Financial Corp.</name>
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        <name>United States of America</name>
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        <name>African Development Bank</name>
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        <name>American Airlines Pass-Through Trust</name>
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        <name>Canadian Pacific Railway Co.</name>
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        <name>NXP BV</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US02377BAB27"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140Q8D36</cusip>
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          <isin value="US3140Q8D367"/>
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        <balance>171195.04460000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3138AUPE16"/>
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        <balance>6977.17430000</balance>
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        <curCd>USD</curCd>
        <valUSD>7778.99000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc.</title>
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          <isin value="US57636QAN43"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <name>International Bank for Reconstruction &amp; Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
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          <isin value="US459058GU15"/>
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        <balance>300000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VF Corp.</name>
        <lei>CWAJJ9DJ5Z7P057HV541</lei>
        <title>VF Corp.</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AASET Trust</name>
        <lei>N/A</lei>
        <title>AASET Trust, Series 2020-1A, Class A</title>
        <cusip>00255UAA3</cusip>
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          <isin value="US00255UAA34"/>
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        <balance>970701.61000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35100000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EQHG0</cusip>
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          <isin value="US3138EQHG08"/>
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        <balance>59503.66840000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
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        <cusip>3140FP6D6</cusip>
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        <balance>13151.80000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <name>Provincia de Buenos Aires</name>
        <lei>549300L6AYROPOTQ4L07</lei>
        <title>Provincia de Buenos Aires</title>
        <cusip>N/A</cusip>
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        <balance>310000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
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          <maturityDt>2025-04-12</maturityDt>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140HHWQ4</cusip>
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        <balance>15001.67000000</balance>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31403DDR7</cusip>
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          <isin value="US31403DDR70"/>
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        <balance>35155.74000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41003.37000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Assurant, Inc.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>Assurant, Inc.</title>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>636736.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ohio Power Co.</name>
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        <name>JPMCC Commercial Mortgage Securities Trust</name>
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        <name>E*TRADE Financial Corp.</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>FirstEnergy Corp.</name>
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        <name>FNMA</name>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J8ZR7</cusip>
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          <isin value="US3140J8ZR74"/>
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        <balance>129159.86420000</balance>
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        <curCd>USD</curCd>
        <valUSD>143478.19000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>Jackson National Life Global Funding</title>
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          <isin value="US46849LTA97"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-06-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.79463200</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WB6N0</cusip>
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          <isin value="US3138WB6N00"/>
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        <balance>36653.99000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38850.72000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Minnesota</name>
        <lei>N/A</lei>
        <title>State of Minnesota, Series A</title>
        <cusip>60412APL1</cusip>
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          <isin value="US60412APL16"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89604.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Coca-Cola Co. (The)</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co. (The)</title>
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          <isin value="US191216CF57"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36186.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Alternative Loan Trust, Series 2007-OH1, Class A1D</title>
        <cusip>02150KAZ2</cusip>
        <identifiers>
          <isin value="US02150KAZ21"/>
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        <balance>48185.00310000</balance>
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        <curCd>USD</curCd>
        <valUSD>34119.54000000</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>2047-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.39449900</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558AX1</cusip>
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          <isin value="US375558AX11"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13285.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WJ2T4</cusip>
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          <isin value="US3138WJ2T43"/>
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        <balance>90600.91360000</balance>
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        <curCd>USD</curCd>
        <valUSD>97544.77000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wyeth LLC</name>
        <lei>549300Q9GR3WRH4N4836</lei>
        <title>Wyeth LLC</title>
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          <isin value="US983024AN02"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87352.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>IMT Trust</name>
        <lei>N/A</lei>
        <title>IMT Trust, Series 2017-APTS, Class BFL</title>
        <cusip>44974AAG2</cusip>
        <identifiers>
          <isin value="US44974AAG22"/>
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        <balance>139177.21000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129962.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.13474900</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2020-L4, Class B</title>
        <cusip>61770KBB0</cusip>
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          <isin value="US61770KBB08"/>
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        <balance>207000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>194325.29000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.08200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828G38</cusip>
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          <isin value="US912828G385"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1195329.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
        <cusip>58933YAR6</cusip>
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          <isin value="US58933YAR62"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54290.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kensington Mortgage Securities plc</name>
        <lei>549300YM966YWEFHQ247</lei>
        <title>Kensington Mortgage Securities plc, Series 2007-1X, Class A3C</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0292652756"/>
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        <balance>232144.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222837.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.48337900</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>94974BGP9</cusip>
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          <isin value="US94974BGP94"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>111433.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140F5CW1</cusip>
        <identifiers>
          <isin value="US3140F5CW18"/>
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        <balance>75763.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83166.06000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nomura Asset Acceptance Corp. Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>Nomura Asset Acceptance Corp. Alternative Loan Trust, Series 2006-AP1, Class A2</title>
        <cusip>65535VSJ8</cusip>
        <identifiers>
          <isin value="US65535VSJ88"/>
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        <balance>3609637.54000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1590630.10000000</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>2036-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.51499800</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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        <name>NXP BV</name>
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        <name>Citigroup, Inc.</name>
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        <name>Aptiv Corp.</name>
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        <name>New Jersey Turnpike Authority</name>
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        <name>FHLMC</name>
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        <name>Boeing Co. (The)</name>
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        <name>State of Connecticut</name>
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        <name>Dell International LLC</name>
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        <name>Amgen, Inc.</name>
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        <name>Camden Property Trust</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>549300UFJ8EKD81Y8R30</lei>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.97729600</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>Dollar General Corp.</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>Dollar General Corp.</title>
        <cusip>256677AE5</cusip>
        <identifiers>
          <isin value="US256677AE53"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11460.49000000</valUSD>
        <pctVal>0.001205694906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Brixmor Operating Partnership LP</name>
        <lei>549300CJHBL7JBUA6503</lei>
        <title>Brixmor Operating Partnership LP</title>
        <cusip>11120VAA1</cusip>
        <identifiers>
          <isin value="US11120VAA17"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103840.94000000</valUSD>
        <pctVal>0.010924532232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</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>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816BW8</cusip>
        <identifiers>
          <isin value="US025816BW85"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163189.67000000</valUSD>
        <pctVal>0.017168284589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138LX5N5</cusip>
        <identifiers>
          <isin value="US3138LX5N57"/>
        </identifiers>
        <balance>8261.63090000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8973.31000000</valUSD>
        <pctVal>0.000944032424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
        <cusip>30161NAX9</cusip>
        <identifiers>
          <isin value="US30161NAX93"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230468.70000000</valUSD>
        <pctVal>0.024246340044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</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>AEP Transmission Co. LLC</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP Transmission Co. LLC</title>
        <cusip>00115AAF6</cusip>
        <identifiers>
          <isin value="US00115AAF66"/>
        </identifiers>
        <balance>29000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35403.83000000</valUSD>
        <pctVal>0.003724641571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WPHP2</cusip>
        <identifiers>
          <isin value="US3138WPHP22"/>
        </identifiers>
        <balance>10358.62600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11097.80000000</valUSD>
        <pctVal>0.001167538292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>FHLMC Pool</name>
        <lei>N/A</lei>
        <title>UMBS</title>
        <cusip>3133A04K7</cusip>
        <identifiers>
          <isin value="US3133A04K71"/>
        </identifiers>
        <balance>69615.62540000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74475.77000000</valUSD>
        <pctVal>0.007835184753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Halliburton Co.</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co.</title>
        <cusip>406216BD2</cusip>
        <identifiers>
          <isin value="US406216BD29"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3151.77000000</valUSD>
        <pctVal>0.000331580328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Alabama Power Co.</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>Alabama Power Co., Series A</title>
        <cusip>010392FS2</cusip>
        <identifiers>
          <isin value="US010392FS24"/>
        </identifiers>
        <balance>90000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>113463.16000000</valUSD>
        <pctVal>0.011936832896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441CAS4</cusip>
        <identifiers>
          <isin value="US26441CAS44"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81549.23000000</valUSD>
        <pctVal>0.008579344444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>Becton Dickinson and Co.</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>Becton Dickinson and Co.</title>
        <cusip>075887BK4</cusip>
        <identifiers>
          <isin value="US075887BK47"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73350.55000000</valUSD>
        <pctVal>0.007716806567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>Becton Dickinson and Co.</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>Becton Dickinson and Co.</title>
        <cusip>075887BW8</cusip>
        <identifiers>
          <isin value="US075887BW84"/>
        </identifiers>
        <balance>33000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36761.67000000</valUSD>
        <pctVal>0.003867492424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WFKV7</cusip>
        <identifiers>
          <isin value="US3138WFKV70"/>
        </identifiers>
        <balance>5504.22000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5914.04000000</valUSD>
        <pctVal>0.000622183510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Clorox Co. (The)</name>
        <lei>54930044KVSC06Z79I06</lei>
        <title>Clorox Co. (The)</title>
        <cusip>189054AX7</cusip>
        <identifiers>
          <isin value="US189054AX72"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15128.19000000</valUSD>
        <pctVal>0.001591553382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.80000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138A1AG6</cusip>
        <identifiers>
          <isin value="US3138A1AG68"/>
        </identifiers>
        <balance>7728.85760000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8460.34000000</valUSD>
        <pctVal>0.000890065681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F032682</cusip>
        <identifiers>
          <isin value="US01F0326821"/>
        </identifiers>
        <balance>-100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-105156.25000000</valUSD>
        <pctVal>-0.01106290873</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
        <cusip>11135FAE1</cusip>
        <identifiers>
          <isin value="US11135FAE16"/>
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        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250386.08000000</valUSD>
        <pctVal>0.026341737676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RDC3</cusip>
        <identifiers>
          <isin value="US00206RDC34"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45004.38000000</valUSD>
        <pctVal>0.004734662455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138X6T70</cusip>
        <identifiers>
          <isin value="US3138X6T701"/>
        </identifiers>
        <balance>143720.62120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164593.51000000</valUSD>
        <pctVal>0.017315974848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138Y4UY3</cusip>
        <identifiers>
          <isin value="US3138Y4UY36"/>
        </identifiers>
        <balance>5816.76910000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6198.10000000</valUSD>
        <pctVal>0.000652067895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YAR0</cusip>
        <identifiers>
          <isin value="US00287YAR09"/>
        </identifiers>
        <balance>71000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85906.41000000</valUSD>
        <pctVal>0.009037739306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138LQ2K9</cusip>
        <identifiers>
          <isin value="US3138LQ2K99"/>
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        <balance>12019.73890000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13062.66000000</valUSD>
        <pctVal>0.001374250369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 15 Year, Single Family</title>
        <cusip>01F020497</cusip>
        <identifiers>
          <isin value="US01F0204978"/>
        </identifiers>
        <balance>213000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219598.02000000</valUSD>
        <pctVal>0.023102695793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3138EP6D1</cusip>
        <identifiers>
          <isin value="US3138EP6D18"/>
        </identifiers>
        <balance>12716.45460000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13800.76000000</valUSD>
        <pctVal>0.001451901797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2018-B3, Class D</title>
        <cusip>08161BAA1</cusip>
        <identifiers>
          <isin value="US08161BAA17"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7395.20000000</valUSD>
        <pctVal>0.000778008180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.20835200</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J5EJ4</cusip>
        <identifiers>
          <isin value="US3140J5EJ49"/>
        </identifiers>
        <balance>4908.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5186.83000000</valUSD>
        <pctVal>0.000545677759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>31307QVQ7</cusip>
        <identifiers>
          <isin value="US31307QVQ71"/>
        </identifiers>
        <balance>3139.96830000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3379.71000000</valUSD>
        <pctVal>0.000355560637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EQFK3</cusip>
        <identifiers>
          <isin value="US3138EQFK38"/>
        </identifiers>
        <balance>32844.18090000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35942.39000000</valUSD>
        <pctVal>0.003781300497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DR Horton, Inc.</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DR Horton, Inc.</title>
        <cusip>23331ABE8</cusip>
        <identifiers>
          <isin value="US23331ABE82"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>422517.00000000</valUSD>
        <pctVal>0.044450681833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>MDGH - GMTN BV</name>
        <lei>213800L53ZH5KG593W13</lei>
        <title>MDGH - GMTN BV</title>
        <cusip>55276VAH5</cusip>
        <identifiers>
          <isin value="US55276VAH50"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>206000.00000000</valUSD>
        <pctVal>0.021672123151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F032674</cusip>
        <identifiers>
          <isin value="US01F0326748"/>
        </identifiers>
        <balance>-315582.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-331903.52000000</valUSD>
        <pctVal>-0.03491773766</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122BJ6</cusip>
        <identifiers>
          <isin value="US110122BJ65"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52727.59000000</valUSD>
        <pctVal>0.005547178757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2012-150, Class KA</title>
        <cusip>3136ABAA1</cusip>
        <identifiers>
          <isin value="US3136ABAA12"/>
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        <balance>3171662.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3229186.21000000</valUSD>
        <pctVal>0.339724860309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</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>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YCL1</cusip>
        <identifiers>
          <isin value="US00287YCL11"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6073.90000000</valUSD>
        <pctVal>0.000639001499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>Commonwealth Financing Authority</name>
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        <name>FHLMC Pool</name>
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        <name>Home Depot, Inc. (The)</name>
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        <name>Massachusetts Institute of Technology</name>
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        <name>HCA, Inc.</name>
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        <name>FNMA</name>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chase Mortgage Finance Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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          <isin value="US025816CA56"/>
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        <balance>108000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3138EPA380"/>
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        <balance>2082584.92000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
        <cusip>31418BVG8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ERQ52</cusip>
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          <isin value="US3138ERQ523"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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          <isin value="US210518DE35"/>
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        <balance>59000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-09-15</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417DGW7</cusip>
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        <balance>32063.50950000</balance>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Discovery Communications LLC</name>
        <lei>L2Z2MO2EQURH3BREWI15</lei>
        <title>Discovery Communications LLC</title>
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        <balance>59000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Daimler Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417WK26</cusip>
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        <name>Hungary</name>
        <lei>5299008DH62LEB10JK83</lei>
        <title>Hungary Government Bond</title>
        <cusip>445545AJ5</cusip>
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        <balance>200000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2023-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WHXG2</cusip>
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      <invstOrSec>
        <name>Fox Corp.</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp.</title>
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        <name>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
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        <balance>100000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <name>FNMA</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Emerson Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Duke Energy Florida LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corp. Andina de Fomento</name>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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          <couponKind>Fixed</couponKind>
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        <name>Daimler Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-05-04</maturityDt>
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          <annualizedRt>3.35000000</annualizedRt>
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        <name>Ecopetrol SA</name>
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        <invCountry>CO</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Welltower, Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138YJGR1</cusip>
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        <name>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WHNX6</cusip>
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        <balance>20952.47900000</balance>
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        <invCountry>US</invCountry>
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        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>Booking Holdings, Inc.</title>
        <cusip>741503BB1</cusip>
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        <balance>50000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Valero Energy Corp.</name>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
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        <name>Province of Ontario Canada</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-16</maturityDt>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-11-30</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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          <maturityDt>2031-11-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>FNMA</name>
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        <name>NIKE, Inc.</name>
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        <name>L3Harris Technologies, Inc.</name>
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        <name>FNMA</name>
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        <name>Russian Federation</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Phillips 66</name>
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      <invstOrSec>
        <name>Corning, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DBJPM Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GSAA Home Equity Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>National Australia Bank Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oversea-Chinese Banking Corp. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
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        <title>Mizuho Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
        <cusip>3138WJEN4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>ConocoPhillips Holding Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Domino's Pizza Master Issuer LLC</name>
        <lei>N/A</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2016-72, Class PA</title>
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        <name>Southwest Airlines Co.</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
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        <name>American Airlines Pass-Through Trust</name>
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        <name>Dow Chemical Co. (The)</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
        <title>Dow Chemical Co. (The)</title>
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        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Fibria Overseas Finance Ltd.</name>
        <lei>549300WABWKSHESAMG92</lei>
        <title>Fibria Overseas Finance Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>New Mexico Mortgage Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Realty Investment Trust</name>
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          <maturityDt>2024-01-15</maturityDt>
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        <name>Entergy Louisiana LLC</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <name>Province of Ontario Canada</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Oracle Corp.</name>
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        <name>Costco Wholesale Corp.</name>
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        <name>Southern California Edison Co.</name>
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        <invCountry>US</invCountry>
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        <name>Republic of Colombia</name>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>Imperial Brands Finance plc</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>FHLMC</name>
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        <name>Hardee's Funding LLC</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>FHLMC</name>
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        <title>FHLMC</title>
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        <name>State of Illinois</name>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>Spectra Energy Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>OneMain Direct Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>FHLMC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>International Business Machines Corp.</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>International Business Machines Corp.</title>
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        <name>Inter-American Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
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        <name>Duke Energy Progress LLC</name>
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        <name>GE Capital Funding LLC</name>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4116, Class AP</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>Dover Corp.</name>
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        <name>MP CLO III Ltd.</name>
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        <name>FNMA</name>
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        <name>Dominion Energy Gas Holdings LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>FNMA</name>
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        <name>Pfizer, Inc.</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
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        <name>Inter-American Development Bank</name>
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        <name>SLM Private Credit Student Loan Trust</name>
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        <name>GNMA</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>BP Capital Markets America, Inc.</name>
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        <name>Toyota Motor Credit Corp.</name>
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      <invstOrSec>
        <name>FNMA</name>
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        <name>Japan Bank for International Cooperation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DTE Electric Co.</name>
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        <name>Michigan State Housing Development Authority</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>CHT Mortgage Trust</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>General Mills, Inc.</name>
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        <title>General Mills, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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      <invstOrSec>
        <name>Octagon Investment Partners XXIII Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Total Capital International SA</name>
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        <title>Total Capital International SA</title>
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          <isin value="US89153VAP40"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>BAMLL Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Commercial Mortgage Securities Trust, Series 2017-SCH, Class DL</title>
        <cusip>054966AW6</cusip>
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          <isin value="US054966AW68"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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        <name>LYB International Finance BV</name>
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        <balance>36000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38690.19000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PBR64"/>
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        <balance>900000.00000000</balance>
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        <valUSD>931971.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.18200000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810RC45"/>
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        <balance>2480000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>BAMLL Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>BAMLL Commercial Mortgage Securities Trust, Series 2017-SCH, Class CL</title>
        <cusip>054966AU0</cusip>
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          <isin value="US054966AU03"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83550.06000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
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          <annualizedRt>1.68475000</annualizedRt>
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      <invstOrSec>
        <name>Welltower, Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower, Inc.</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110884.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Martin Marietta Materials, Inc.</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials, Inc., Series CB</title>
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          <isin value="US573284AV89"/>
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        <balance>35000.00000000</balance>
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        <valUSD>35040.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Bank of Nova Scotia (The)</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140FS7A5</cusip>
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          <isin value="US3140FS7A58"/>
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        <balance>2485918.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Asian Development Bank</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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      <invstOrSec>
        <name>Odebrecht Offshore Drilling Finance Ltd.</name>
        <lei>549300L7LF2PIRAWID66</lei>
        <title>Odebrecht Offshore Drilling Finance Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-12-01</maturityDt>
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          <annualizedRt>6.72000000</annualizedRt>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>90351DAB3</cusip>
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        <balance>215000.00000000</balance>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-24</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967MP3</cusip>
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        <balance>215000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.41200200</annualizedRt>
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        <name>FirstEnergy Corp.</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp., Series B</title>
        <cusip>337932AF4</cusip>
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        <balance>15000.00000000</balance>
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        <valUSD>16207.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>OFSI Fund IX Ltd.</name>
        <lei>N/A</lei>
        <title>OFSI Fund IX Ltd., Series 2018-1A, Class A</title>
        <cusip>67111BAC4</cusip>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>481567.50000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.36887900</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CSMC Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Texas Instruments, Inc.</name>
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        <title>Texas Instruments, Inc.</title>
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          <isin value="US882508BJ22"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
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          <isin value="US36251SAA69"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Piedmont Natural Gas Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rogers Communications, Inc.</name>
        <lei>54930030NVF3Y2OL0A78</lei>
        <title>Rogers Communications, Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-01</maturityDt>
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          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140FMDA1</cusip>
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          <isin value="US3140FMDA15"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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        <title>Commercial Mortgage Trust, Series 2013-LC13, Class B</title>
        <cusip>12626GAP8</cusip>
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        <balance>274000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-10</maturityDt>
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          <annualizedRt>5.00900000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J73M5</cusip>
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          <isin value="US3140J73M51"/>
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        <balance>212350.47660000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31416WLG5</cusip>
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          <isin value="US31416WLG59"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179TLT0</cusip>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mountain Hawk III CLO Ltd.</name>
        <lei>549300LQ6MVS0NGUT623</lei>
        <title>Mountain Hawk III CLO Ltd., Series 2014-3A, Class AR</title>
        <cusip>62405CAN4</cusip>
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        <balance>86244.54000000</balance>
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        <valUSD>85879.98000000</valUSD>
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        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Raytheon Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp.</title>
        <cusip>75513EAD3</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
        <cusip>760759AU4</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-08-15</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807BM3</cusip>
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        <balance>298000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-01-15</maturityDt>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
        <cusip>58013MER1</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Petronas Capital Ltd.</name>
        <lei>549300G7YFX3540OYR85</lei>
        <title>Petronas Capital Ltd.</title>
        <cusip>716743AP4</cusip>
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        <balance>200000.00000000</balance>
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        <valUSD>221627.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-21</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>New Jersey Economic Development Authority</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>New Jersey Economic Development Authority, Revenue Bonds, Series B</title>
        <cusip>645913BA1</cusip>
        <identifiers>
          <isin value="US645913BA13"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>785912.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-15</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>Volkswagen Group of America Finance LLC</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-11-13</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Capital Barclays Bank Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital Barclays Bank Trust, Series 2016-MART, Class B</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.47980000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority First Lien Wastewater Utility Revenue Bonds, Series 2015A</title>
        <cusip>45505MEG7</cusip>
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          <isin value="US45505MEG78"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45717.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc.</title>
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          <isin value="US606822AL88"/>
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        <balance>72000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.99800000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140HHWM3</cusip>
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          <isin value="US3140HHWM39"/>
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        <balance>11860.56000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Office Properties Income Trust</name>
        <lei>N/A</lei>
        <title>Office Properties Income Trust</title>
        <cusip>81618TAC4</cusip>
        <identifiers>
          <isin value="US81618TAC45"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97477.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61746BDJ2</cusip>
        <identifiers>
          <isin value="US61746BDJ26"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58153.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>US Airways Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>US Airways Pass-Through Trust, Series 2013-1, Class B</title>
        <cusip>90346WAB9</cusip>
        <identifiers>
          <isin value="US90346WAB90"/>
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        <balance>7654.40000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6146.81000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KAW0</cusip>
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          <isin value="US65339KAW09"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79041.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WD6X4</cusip>
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          <isin value="US3138WD6X46"/>
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        <balance>1708.94000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140X4DE3</cusip>
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          <isin value="US3140X4DE39"/>
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        <balance>3084643.48000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3254631.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Northern States Power Co.</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co.</title>
        <cusip>665772CR8</cusip>
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          <isin value="US665772CR86"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59428.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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          <isin value="US29250NAQ88"/>
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        <balance>47000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48734.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp., Series H</title>
        <cusip>857477BA0</cusip>
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          <isin value="US857477BA04"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>324950.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Hershey Co. (The)</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Co. (The)</title>
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        <balance>25000.00000000</balance>
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        <valUSD>26828.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H11, Class F</title>
        <cusip>38375UXM7</cusip>
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        <balance>396295.14000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399686.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-05-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.10337800</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WJC71</cusip>
        <identifiers>
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        <balance>33346.82000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35245.39000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Capital One Financial Corp.</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>CenterPoint Energy, Inc.</name>
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        <name>Microsoft Corp.</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>International Business Machines Corp.</name>
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        <name>GNMA</name>
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        <name>Costco Wholesale Corp.</name>
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        <name>HMH Trust</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Total Capital International SA</name>
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        <name>Korea Development Bank (The)</name>
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        <name>New York State Dormitory Authority</name>
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        <name>City of North Las Vegas NV</name>
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        <name>E*TRADE Financial Corp.</name>
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        <name>Landwirtschaftliche Rentenbank</name>
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        <invCountry>DE</invCountry>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>GNMA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Standard Chartered plc</name>
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        <name>FNMA</name>
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        <name>Apple, Inc.</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>FNMA</name>
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        <name>NVR, Inc.</name>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>NGPL PipeCo LLC</name>
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        <name>Home Depot, Inc. (The)</name>
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        <name>Oracle Corp.</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>HSBC Holdings plc</name>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-27</maturityDt>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-01</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>DBJPM Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Svenska Handelsbanken AB</name>
        <lei>NHBDILHZTYCNBV5UYZ31</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Anthem, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Coca-Cola Co. (The)</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <name>Florida Power &amp; Light Co.</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>TWDC Enterprises 18 Corp.</name>
        <lei>7260JQNI6SCF9FIV2392</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAE Systems Holdings, Inc.</name>
        <lei>MF62XBVMNYTYMC18DL76</lei>
        <title>BAE Systems Holdings, Inc.</title>
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          <isin value="US05523UAK60"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-07</maturityDt>
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          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>BAE Systems Holdings, Inc.</name>
        <lei>MF62XBVMNYTYMC18DL76</lei>
        <title>BAE Systems Holdings, Inc.</title>
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          <isin value="US05523UAM27"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-12-15</maturityDt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2016-GS3, Class XA</title>
        <cusip>36251PAF1</cusip>
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          <isin value="US36251PAF18"/>
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        <balance>333297.73000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16957.56000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.36651000</annualizedRt>
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      <invstOrSec>
        <name>280 Park Avenue Mortgage Trust</name>
        <lei>N/A</lei>
        <title>280 Park Avenue Mortgage Trust, Series 2017-280P, Class D</title>
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          <isin value="US90205FAL40"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-15</maturityDt>
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          <annualizedRt>1.72013000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K034, Class A2</title>
        <cusip>3137B5JM6</cusip>
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          <isin value="US3137B5JM67"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21638.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.53099900</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J7MC6</cusip>
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          <isin value="US3140J7MC69"/>
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        <balance>56414.12390000</balance>
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        <curCd>USD</curCd>
        <valUSD>58629.46000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ameren Illinois Co.</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
        <title>Ameren Illinois Co.</title>
        <cusip>02361DAR1</cusip>
        <identifiers>
          <isin value="US02361DAR17"/>
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        <balance>9000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10429.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XCV6</cusip>
        <identifiers>
          <isin value="US37045XCV64"/>
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        <balance>191000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190251.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Laboratory Corp. of America Holdings</name>
        <lei>OZ7UA8IXAIFILY2VZH07</lei>
        <title>Laboratory Corp. of America Holdings</title>
        <cusip>50540RAL6</cusip>
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          <isin value="US50540RAL69"/>
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        <balance>20000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PAE6</cusip>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.77600000</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2018-GW, Class D</title>
        <cusip>12433UAL9</cusip>
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          <isin value="US12433UAL98"/>
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        <balance>112000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100810.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.95475000</annualizedRt>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807BG6</cusip>
        <identifiers>
          <isin value="US666807BG61"/>
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        <balance>75000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
        <cusip>482480AH3</cusip>
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        <balance>72000.00000000</balance>
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        <valUSD>92848.24000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
        <cusip>37045VAK6</cusip>
        <identifiers>
          <isin value="US37045VAK61"/>
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        <balance>44000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46892.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828P79</cusip>
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        <balance>645000.00000000</balance>
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        <valUSD>667775.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
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        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
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        <name>Banco Santander Chile</name>
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        <name>Council of Europe Development Bank</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Illinois Tool Works, Inc.</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>Illinois Tool Works, Inc.</title>
        <cusip>452308AX7</cusip>
        <identifiers>
          <isin value="US452308AX78"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54286.32000000</valUSD>
        <pctVal>0.005711164138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>United Parcel Service, Inc.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service, Inc.</title>
        <cusip>911312BR6</cusip>
        <identifiers>
          <isin value="US911312BR66"/>
        </identifiers>
        <balance>174000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200087.19000000</valUSD>
        <pctVal>0.021050069042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810QZ4</cusip>
        <identifiers>
          <isin value="US912810QZ49"/>
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        <balance>780000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1057402.55000000</valUSD>
        <pctVal>0.111243486819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140JHYV9</cusip>
        <identifiers>
          <isin value="US3140JHYV91"/>
        </identifiers>
        <balance>112886.37740000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123672.10000000</valUSD>
        <pctVal>0.013010859134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Georgia-Pacific LLC</name>
        <lei>L2EVHWFHVAQK72TMH265</lei>
        <title>Georgia-Pacific LLC</title>
        <cusip>373298BR8</cusip>
        <identifiers>
          <isin value="US373298BR83"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29453.48000000</valUSD>
        <pctVal>0.003098638086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J5JU4</cusip>
        <identifiers>
          <isin value="US3140J5JU49"/>
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        <balance>66797.08530000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72676.37000000</valUSD>
        <pctVal>0.007645879810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 2015-11, Class A</title>
        <cusip>3136AMXK0</cusip>
        <identifiers>
          <isin value="US3136AMXK02"/>
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        <balance>1407625.43000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1478261.06000000</valUSD>
        <pctVal>0.155519688072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 15 Year, Single Family</title>
        <cusip>01F022485</cusip>
        <identifiers>
          <isin value="US01F0224851"/>
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        <balance>-224000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-234202.51000000</valUSD>
        <pctVal>-0.02463915358</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp.</title>
        <cusip>961214DG5</cusip>
        <identifiers>
          <isin value="US961214DG53"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103469.60000000</valUSD>
        <pctVal>0.010885465600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</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>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMBB Commercial Mortgage Securities Trust, Series 2014-C25, Class XA</title>
        <cusip>46643PBG4</cusip>
        <identifiers>
          <isin value="US46643PBG46"/>
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        <balance>3281309.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98547.24000000</valUSD>
        <pctVal>0.010367611269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.99860800</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828VS6</cusip>
        <identifiers>
          <isin value="US912828VS66"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>857734.96000000</valUSD>
        <pctVal>0.090237561576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2019-B13, Class XA</title>
        <cusip>08162DAF5</cusip>
        <identifiers>
          <isin value="US08162DAF50"/>
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        <balance>776240.87760000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59047.17000000</valUSD>
        <pctVal>0.006212026893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.26900000</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>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2020-L4, Class D</title>
        <cusip>61770KAE5</cusip>
        <identifiers>
          <isin value="US61770KAE55"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35178.78000000</valUSD>
        <pctVal>0.003700965303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828U81</cusip>
        <identifiers>
          <isin value="US912828U816"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513647.35000000</valUSD>
        <pctVal>0.054038003038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Jabil, Inc.</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>Jabil, Inc.</title>
        <cusip>466313AH6</cusip>
        <identifiers>
          <isin value="US466313AH63"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107635.82000000</valUSD>
        <pctVal>0.011323770614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>LYB International Finance II BV</name>
        <lei>549300ZSNDBYN4Z4VZ93</lei>
        <title>LYB International Finance II BV</title>
        <cusip>50247WAB3</cusip>
        <identifiers>
          <isin value="US50247WAB37"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108698.63000000</valUSD>
        <pctVal>0.011435582989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49616680"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>157.46000000</valUSD>
        <pctVal>0.000016565497</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <amtCurSold>101563000.00000000</amtCurSold>
            <curSold>COP</curSold>
            <amtCurPur>27123.25000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-07-27</settlementDt>
            <unrealizedAppr>157.46000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Praxair, Inc.</name>
        <lei>ZU69GUVJQGZ6Z1UOOO79</lei>
        <title>Praxair, Inc.</title>
        <cusip>74005PBF0</cusip>
        <identifiers>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
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        <name>Equinix, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US912828YV68"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>ViacomCBS, Inc.</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828SV33"/>
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        <balance>2178000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>Alabama Power Co.</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>Alabama Power Co.</title>
        <cusip>010392FB9</cusip>
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          <isin value="US010392FB98"/>
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        <balance>3000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4333.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Public Service Electric &amp; Gas Co.</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric &amp; Gas Co.</title>
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          <isin value="US74456QBL95"/>
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        <balance>4000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4387.87000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172AV1</cusip>
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          <isin value="US718172AV10"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>African Development Bank</name>
        <lei>549300LNCLMO3ITVCU07</lei>
        <title>African Development Bank</title>
        <cusip>00828EEA3</cusip>
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          <isin value="US00828EEA38"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49427171"/>
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        <units>NC</units>
        <curCd>N/A</curCd>
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        <name>Energy Transfer Partners LP</name>
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        <balance>160000.00000000</balance>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
        <cusip>512807AS7</cusip>
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          <isin value="US512807AS72"/>
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        <balance>544000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>623520.94000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Royal Bank of Scotland Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>Royal Bank of Scotland Group plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967HV6</cusip>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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        <balance>-197000.00000000</balance>
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        <valUSD>-216884.47000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179UPB2</cusip>
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          <isin value="US36179UPB25"/>
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        <balance>405053.32770000</balance>
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        <curCd>USD</curCd>
        <valUSD>433209.84000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2H5</cusip>
        <identifiers>
          <isin value="US95000U2H53"/>
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        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98602.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.40599900</annualizedRt>
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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>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
        <cusip>74432QBZ7</cusip>
        <identifiers>
          <isin value="US74432QBZ72"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55240.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wisconsin Power &amp; Light Co.</name>
        <lei>JWBYHVQVMY66CVCOSO49</lei>
        <title>Wisconsin Power &amp; Light Co.</title>
        <cusip>976826BL0</cusip>
        <identifiers>
          <isin value="US976826BL07"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80990.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.05000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2016-P4, Class A4</title>
        <cusip>29429EAD3</cusip>
        <identifiers>
          <isin value="US29429EAD31"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186960.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90200000</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>Province of Quebec Canada</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>Province of Quebec</title>
        <cusip>748149AJ0</cusip>
        <identifiers>
          <isin value="US748149AJ05"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54782.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J76Q3</cusip>
        <identifiers>
          <isin value="US3140J76Q39"/>
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        <balance>124721.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>131783.16000000</valUSD>
        <pctVal>0.013864178994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>COLT Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>COLT Mortgage Loan Trust, Series 2020-3, Class A3</title>
        <cusip>12597QAC0</cusip>
        <identifiers>
          <isin value="US12597QAC06"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100165.03000000</valUSD>
        <pctVal>0.010537810027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-04-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.38000000</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>SMB Private Education Loan Trust</name>
        <lei>549300ZLJ4U248VKSJ66</lei>
        <title>SMB Private Education Loan Trust, Series 2015-B, Class B</title>
        <cusip>78448QAE8</cusip>
        <identifiers>
          <isin value="US78448QAE89"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99773.98000000</valUSD>
        <pctVal>0.010496669815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Province of Quebec Canada</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>Province of Quebec</title>
        <cusip>748149AN1</cusip>
        <identifiers>
          <isin value="US748149AN17"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56469.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc.</title>
        <cusip>92826CAM4</cusip>
        <identifiers>
          <isin value="US92826CAM47"/>
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        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67787.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.05000000</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>One Market Plaza Trust</name>
        <lei>N/A</lei>
        <title>One Market Plaza Trust, Series 2017-1MKT, Class XNCP</title>
        <cusip>68245HAU8</cusip>
        <identifiers>
          <isin value="US68245HAU86"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.20000000</valUSD>
        <pctVal>0.000000021040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00001100</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>Vericrest Opportunity Loan Trust</name>
        <lei>N/A</lei>
        <title>Vericrest Opportunity Loan Trust, Series 2020-NPL5, Class A1A</title>
        <cusip>92870NAA1</cusip>
        <identifiers>
          <isin value="US92870NAA19"/>
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        <balance>1531458.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1516665.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.98149800</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
        <cusip>458140BH2</cusip>
        <identifiers>
          <isin value="US458140BH27"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21481.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RE0</cusip>
        <identifiers>
          <isin value="US912810RE01"/>
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        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1903302.05000000</valUSD>
        <pctVal>0.200235904965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
        <title>University of California, General Revenue Bonds, Series 2012-AD</title>
        <cusip>91412GHA6</cusip>
        <identifiers>
          <isin value="US91412GHA67"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62372.25000000</valUSD>
        <pctVal>0.006561840210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2112-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85800000</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>Kreditanstalt fuer Wiederaufbau</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>Kreditanstalt fuer Wiederaufbau</title>
        <cusip>500769HZ0</cusip>
        <identifiers>
          <isin value="US500769HZ02"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103608.21000000</valUSD>
        <pctVal>0.010900047993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Corning, Inc.</name>
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        <name>Suntory Holdings Ltd.</name>
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        <name>20 Times Square Trust</name>
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        <name>United States of America</name>
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        <name>Russian Federation</name>
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        <invCountry>RU</invCountry>
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        <name>FNMA</name>
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        <name>Choice Hotels International, Inc.</name>
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        <name>Burlington Northern Santa Fe LLC</name>
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        <name>United States of America</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140HHWN12"/>
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        <name>Visa, Inc.</name>
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        <title>Visa, Inc.</title>
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        <name>Boeing Co. (The)</name>
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        <name>United States of America</name>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <name>Interpublic Group of Cos., Inc. (The)</name>
        <lei>5493008IUOJ5VWTRC333</lei>
        <title>Interpublic Group of Cos., Inc. (The)</title>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tyco Electronics Group SA</name>
        <lei>C33G1C5SYE2YM95EE712</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-10-14</maturityDt>
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      <invstOrSec>
        <name>Midwest Connector Capital Co. LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US9128282W90"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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        <name>United States of America</name>
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          <isin value="US912828X885"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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          <annualizedRt>2.37500000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
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        <curCd>USD</curCd>
        <valUSD>14633.05000000</valUSD>
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        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>401280.96000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.37763000</annualizedRt>
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      <invstOrSec>
        <name>Mid-America Apartments LP</name>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <name>PepsiCo, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.70000000</annualizedRt>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-30</maturityDt>
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        <name>FNMA</name>
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          <maturityDt>2043-07-01</maturityDt>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>FNMA</name>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Province of Alberta Canada</name>
        <lei>LQPXMHHNJKIPJYE53543</lei>
        <title>Province of Alberta</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-26</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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        <name>Republic of Panama</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FirstEnergy Corp.</name>
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        <name>United States of America</name>
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        <name>Public Service Electric &amp; Gas Co.</name>
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        <name>Host Hotels &amp; Resorts LP</name>
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        <name>ViacomCBS, Inc.</name>
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        <name>Intel Corp.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Gilead Sciences, Inc.</name>
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        <name>Raytheon Technologies Corp.</name>
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        <name>Air Lease Corp.</name>
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        <name>Aptiv plc</name>
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        <name>Shell International Finance BV</name>
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        <name>Level 3 Financing, Inc.</name>
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        <name>GNMA</name>
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        <name>Textron, Inc.</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron, Inc.</title>
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      <invstOrSec>
        <name>Alabama Power Co.</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>FHLMC</name>
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        <name>Sompo International Holdings Ltd.</name>
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        <name>MUFG Americas Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Inter-American Development Bank</name>
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        <name>AEP Texas, Inc.</name>
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        <name>Eurohome UK Mortgages plc</name>
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        <name>AbbVie, Inc.</name>
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        <name>CVS Health Corp.</name>
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        <name>Westrock Co.</name>
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        <name>Apple, Inc.</name>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Raytheon Technologies Corp.</name>
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        <name>AerCap Ireland Capital DAC</name>
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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>
      <invstOrSec>
        <name>Whirlpool Corp.</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp.</title>
        <cusip>963320AR7</cusip>
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          <isin value="US963320AR76"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32172.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138XSPZ4</cusip>
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          <isin value="US3138XSPZ42"/>
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        <balance>414.00280000</balance>
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        <curCd>USD</curCd>
        <valUSD>451.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Healthpeak Properties, Inc.</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak Properties, Inc.</title>
        <cusip>40414LAG4</cusip>
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          <isin value="US40414LAG41"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36003.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Florida Power &amp; Light Co.</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>Florida Power &amp; Light Co.</title>
        <cusip>341081FL6</cusip>
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          <isin value="US341081FL67"/>
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        <balance>29000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37135.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
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          <isin value="US571748BN17"/>
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        <balance>44000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45771.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2017-C39, Class D</title>
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        <identifiers>
          <isin value="US95000XAM92"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7637.23000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.49605400</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Horizon Alternative Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>First Horizon Alternative Mortgage Securities Trust, Series 2007-FA3, Class A8</title>
        <cusip>32053GAH6</cusip>
        <identifiers>
          <isin value="US32053GAH65"/>
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        <balance>892716.49000000</balance>
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        <curCd>USD</curCd>
        <valUSD>578160.51000000</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>2037-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sempra Energy</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra Energy</title>
        <cusip>816851AT6</cusip>
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          <isin value="US816851AT63"/>
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        <balance>32000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33312.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>AEP Transmission Co. LLC</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP Transmission Co. LLC</title>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11683.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Broadcom Corp.</name>
        <lei>N/A</lei>
        <title>Broadcom Corp.</title>
        <cusip>11134LAH2</cusip>
        <identifiers>
          <isin value="US11134LAH24"/>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1157362.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Iraq Government AID Bond</name>
        <lei>N/A</lei>
        <title>Iraq Government AID Bond</title>
        <cusip>462652AD0</cusip>
        <identifiers>
          <isin value="US462652AD08"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205026.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>IQ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.14900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417FU30</cusip>
        <identifiers>
          <isin value="US31417FU303"/>
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        <balance>70083.45700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76245.22000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807BN1</cusip>
        <identifiers>
          <isin value="US666807BN13"/>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3128MFCX4</cusip>
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        <balance>76484.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80690.96000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lincoln National Corp.</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp.</title>
        <cusip>534187BD0</cusip>
        <identifiers>
          <isin value="US534187BD07"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16307.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WFYN0</cusip>
        <identifiers>
          <isin value="US3138WFYN09"/>
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        <balance>26681.44860000</balance>
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        <curCd>USD</curCd>
        <valUSD>28083.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FRESB Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FRESB Mortgage Trust, Series 2018-SB52, Class A10F</title>
        <cusip>30297CAJ1</cusip>
        <identifiers>
          <isin value="US30297CAJ18"/>
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        <balance>28124.34000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30080.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.47855800</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XCY0</cusip>
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        <name>Inter-American Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>PepsiCo, Inc.</name>
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        <name>PulteGroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>FHLB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State Street Corp.</name>
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        <name>Bristol-Myers Squibb Co.</name>
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        <title>Bristol-Myers Squibb Co.</title>
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        <curCd>USD</curCd>
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        <name>Simon Property Group LP</name>
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          <maturityDt>2029-09-13</maturityDt>
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        <name>Discovery Communications LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Howmet Aerospace, Inc.</name>
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        <name>Walt Disney Co. (The)</name>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>IMT Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>DBGS Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Simon Property Group LP</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>Simon Property Group LP</title>
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        <balance>75000.00000000</balance>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WJH27</cusip>
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        <curCd>USD</curCd>
        <valUSD>32409.34000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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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>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="JBU0COS"/>
          <other otherDesc="Future Ticker" value="JBU0 Comdty"/>
        </identifiers>
        <balance>-8.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.97500000"/>
        <valUSD>226.06000000</valUSD>
        <pctVal>0.000023782525</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Japan Securities Clearing</counterpartyName>
              <counterpartyLei>549300JHM7D8P3TS4S86</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Japan</issuerName>
                <issueTitle>Japan 10 Year Bond</issueTitle>
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                  <isin value="JP1103421G35"/>
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            </descRefInstrmnt>
            <expDate>2020-09-14</expDate>
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            <curCd>JPY</curCd>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>New York City Housing Development Corporation Multi-Family Housing Revenue Bonds, Series 2014 C-1-A</title>
        <cusip>64972B8M0</cusip>
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          <isin value="US64972B8M08"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>218158.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3622A2TM4</cusip>
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          <isin value="US3622A2TM46"/>
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        <balance>737684.08350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>798334.03000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of New York NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York General Obligation Bonds Fiscal, Tax-Exempt Bonds, Series 2018 Subseries F-1</title>
        <cusip>64966MZY8</cusip>
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          <isin value="US64966MZY82"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>132679.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Northern Trust Corp.</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corp.</title>
        <cusip>665859AU8</cusip>
        <identifiers>
          <isin value="US665859AU89"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28227.86000000</valUSD>
        <pctVal>0.002969697370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828S35</cusip>
        <identifiers>
          <isin value="US912828S356"/>
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        <balance>1900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1967935.64000000</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>2023-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</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>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
        <cusip>747525AK9</cusip>
        <identifiers>
          <isin value="US747525AK99"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228851.53000000</valUSD>
        <pctVal>0.024076206512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
        <cusip>42824CAN9</cusip>
        <identifiers>
          <isin value="US42824CAN92"/>
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        <balance>719000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>772595.63000000</valUSD>
        <pctVal>0.081280522524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.39999900</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140FMEE2</cusip>
        <identifiers>
          <isin value="US3140FMEE28"/>
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        <balance>3956.12120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4284.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japan Bank for International Cooperation</name>
        <lei>549300TJ3QFYVCTSCJ29</lei>
        <title>Japan Bank for International Cooperation</title>
        <cusip>471048AT5</cusip>
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          <isin value="US471048AT53"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217835.60000000</valUSD>
        <pctVal>0.022917281311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
          <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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EH3N0</cusip>
        <identifiers>
          <isin value="US3138EH3N08"/>
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        <balance>82928.29700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98753.30000000</valUSD>
        <pctVal>0.010389289705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>TD Ameritrade Holding Corp.</name>
        <lei>ZI85ER3E6RXD4HPHW309</lei>
        <title>TD Ameritrade Holding Corp.</title>
        <cusip>87236YAH1</cusip>
        <identifiers>
          <isin value="US87236YAH18"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27661.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828L57</cusip>
        <identifiers>
          <isin value="US912828L575"/>
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        <balance>650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>673094.57000000</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>2022-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Norfolk Southern Corp.</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>Norfolk Southern Corp.</title>
        <cusip>655844BZ0</cusip>
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          <isin value="US655844BZ09"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28850.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Micron Technology, Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology, Inc.</title>
        <cusip>595112BR3</cusip>
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          <isin value="US595112BR36"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207908.96000000</valUSD>
        <pctVal>0.021872954298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.49700000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J8HY2</cusip>
        <identifiers>
          <isin value="US3140J8HY28"/>
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        <balance>47109.24000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53921.58000000</valUSD>
        <pctVal>0.005672791855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp.</title>
        <cusip>369550BM9</cusip>
        <identifiers>
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        <name>Duke Energy Carolinas LLC</name>
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        <name>State of Texas</name>
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        <name>Steele Creek CLO Ltd.</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>Gilead Sciences, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Sabine Pass Liquefaction LLC</name>
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          <maturityDt>2027-03-15</maturityDt>
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        <name>SG Commercial Mortgage Securities Trust</name>
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        <name>Transcontinental Gas Pipe Line Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <name>LoanCore Issuer Ltd.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Bacardi Ltd.</name>
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        <invCountry>BM</invCountry>
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        <name>FHLMC</name>
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        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
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        <name>Kimberly-Clark Corp.</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>Kimberly-Clark Corp.</title>
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        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc.</title>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Empresa Nacional de Telecomunicaciones SA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CIFC Funding Ltd.</name>
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      <invstOrSec>
        <name>Tennessee Housing Development Agency</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>US Bancorp</name>
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        <title>US Bancorp</title>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47218.38000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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          <isin value="US3138ERR935"/>
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        <invCountry>US</invCountry>
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        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CFCRE Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CFCRE Commercial Mortgage Trust, Series 2016-C4, Class XB</title>
        <cusip>12531YAS7</cusip>
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          <isin value="US12531YAS72"/>
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        <balance>110000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-05-10</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBT1</cusip>
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          <isin value="US68389XBT19"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Royal Bank of Scotland Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179UKY7</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-K64, Class B</title>
        <cusip>30296CAE3</cusip>
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          <isin value="US30296CAE30"/>
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      <invstOrSec>
        <name>United Parcel Service, Inc.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service, Inc.</title>
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      <invstOrSec>
        <name>Marathon Petroleum Corp.</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp.</title>
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        <invCountry>US</invCountry>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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        <name>Perusahaan Penerbit SBSN Indonesia III</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Metropolitan Atlanta Rapid Transit Authority</name>
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        <name>Aircastle Ltd.</name>
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        <name>Sabine Pass Liquefaction LLC</name>
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        <name>AbbVie, Inc.</name>
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        <name>Crown Castle Towers LLC</name>
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        <name>Los Angeles County Public Works Financing Authority</name>
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        <name>Cheniere Corpus Christi Holdings LLC</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>Cheniere Corpus Christi Holdings LLC</title>
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        <name>ITC Holdings Corp.</name>
        <lei>549300HTO5U9D3SLE207</lei>
        <title>ITC Holdings Corp.</title>
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        <name>MidAmerican Energy Co.</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co.</title>
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        <name>Marathon Petroleum Corp.</name>
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        <name>Mizuho Financial Group, Inc.</name>
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        <name>Oregon School Boards Association</name>
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        <name>FNMA</name>
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        <name>Credit Suisse Group AG</name>
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        <name>Union Pacific Corp.</name>
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        <name>Mohawk Industries, Inc.</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Intercontinental Exchange, Inc.</name>
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        <name>International Finance Corp.</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>International Finance Corp.</title>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Archer-Daniels-Midland Co.</name>
        <lei>549300LO13MQ9HYSTR83</lei>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>European Investment Bank</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828R366"/>
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        <balance>1900000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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          <isin value="US87264ABA25"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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          <isin value="US86562MBM10"/>
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        <balance>211000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SAS2</cusip>
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          <isin value="US02209SAS23"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82419.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140Q7XT9</cusip>
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          <isin value="US3140Q7XT96"/>
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        <balance>46182.90510000</balance>
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        <curCd>USD</curCd>
        <valUSD>51027.13000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>86787EBB2</cusip>
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          <isin value="US86787EBB20"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23125.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>Pacific Gas &amp; Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
        <cusip>694308HM2</cusip>
        <identifiers>
          <isin value="US694308HM22"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>659250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>Booking Holdings, Inc.</title>
        <cusip>09857LAQ1</cusip>
        <identifiers>
          <isin value="US09857LAQ14"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>229194.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>94974BFC9</cusip>
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          <isin value="US94974BFC90"/>
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        <balance>36000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37706.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SAU7</cusip>
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          <isin value="US02209SAU78"/>
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        <balance>97000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102094.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority Revenue Bonds, Series 2018E</title>
        <cusip>546399HA7</cusip>
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          <isin value="US546399HA77"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-CR19, Class A5</title>
        <cusip>12592GBD4</cusip>
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          <isin value="US12592GBD43"/>
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        <balance>50000.00000000</balance>
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        <valUSD>54439.47000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.79600000</annualizedRt>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
        <cusip>594918BC7</cusip>
        <identifiers>
          <isin value="US594918BC73"/>
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        <balance>84000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101648.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2035-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corporation Hospital Revenue Bonds, Series 2017A</title>
        <cusip>645424AV4</cusip>
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          <isin value="US645424AV45"/>
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        <balance>20000.00000000</balance>
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        <valUSD>23740.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828G87</cusip>
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          <isin value="US912828G872"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Banco Espirito Santo SA</name>
        <lei>635400JV7IJL16OWIT96</lei>
        <title>Banco Espirito Santo SA</title>
        <cusip>N/A</cusip>
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          <isin value="PTBENKOM0012"/>
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        <balance>900000.00000000</balance>
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        <invCountry>PT</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2019-01-21</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179VDR8</cusip>
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          <isin value="US36179VDR87"/>
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        <balance>97599.32060000</balance>
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        <curCd>USD</curCd>
        <valUSD>104505.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern Co. Gas Capital Corp.</name>
        <lei>E8CD46SWUD2TSN8PA636</lei>
        <title>Southern Co. Gas Capital Corp.</title>
        <cusip>001192AJ2</cusip>
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          <isin value="US001192AJ21"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46219.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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          <isin value="US86562MAC47"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>113120.19000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.78400000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SBB8</cusip>
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          <isin value="US02209SBB88"/>
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        <balance>133000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>145352.15000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LeasePlan Corp. NV</name>
        <lei>724500C60L930FVHS484</lei>
        <title>LeasePlan Corp. NV</title>
        <cusip>52206AAD2</cusip>
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          <isin value="US52206AAD28"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>614106.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-24</maturityDt>
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          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2019-1, Class B</title>
        <cusip>02379DAA8</cusip>
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          <isin value="US02379DAA81"/>
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        <balance>77877.89000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54479.24000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oesterreichische Kontrollbank AG</name>
        <lei>5299000OVRLMF858L016</lei>
        <title>Oesterreichische Kontrollbank AG</title>
        <cusip>676167BW8</cusip>
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          <isin value="US676167BW80"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25740.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AT</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
        <cusip>931142EE9</cusip>
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          <isin value="US931142EE96"/>
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        <balance>113000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brookfield Finance, Inc.</name>
        <lei>N/A</lei>
        <title>Brookfield Finance, Inc.</title>
        <cusip>11271LAC6</cusip>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54799.44000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>12594KAB8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417F4H8</cusip>
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          <isin value="US31417F4H89"/>
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        <balance>18653.03600000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Toorak Mortgage Corp. Ltd.</name>
        <lei>N/A</lei>
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        <cusip>89052WAB5</cusip>
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          <isin value="US89052WAB54"/>
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        <balance>1200000.00000000</balance>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747WAL3</cusip>
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        <balance>27000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Residential Asset Securitization Trust</name>
        <lei>N/A</lei>
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        <cusip>76112HAG2</cusip>
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          <isin value="US76112HAG20"/>
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        <balance>4242600.30000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Norfolk Southern Corp.</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>Norfolk Southern Corp.</title>
        <cusip>655844BH0</cusip>
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          <isin value="US655844BH01"/>
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        <balance>15000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.83700000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2017-C4, Class A4</title>
        <cusip>17326FAD9</cusip>
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          <isin value="US17326FAD96"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22257.46000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.47100000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128283C2</cusip>
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          <isin value="US9128283C28"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>364890.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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      <invstOrSec>
        <name>Norfolk Southern Corp.</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>FNMA</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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          <maturityDt>2031-01-22</maturityDt>
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        <name>Georgia-Pacific LLC</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Raytheon Technologies Corp.</name>
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        <name>Midocean Credit CLO VIII</name>
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        <name>United States of America</name>
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        <name>Sacramento County Sanitation Districts Financing Authority</name>
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        <name>FNMA</name>
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        <name>Oncor Electric Delivery Co. LLC</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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        <name>FHLMC</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>PepsiCo, Inc.</name>
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        <name>Duke Energy Florida LLC</name>
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        <name>American International Group, Inc.</name>
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        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <name>FNMA</name>
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        <name>US Bancorp</name>
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        <name>Walmart, Inc.</name>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <name>Tampa Electric Co.</name>
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        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
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        <name>PNC Bank NA</name>
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        <name>European Investment Bank</name>
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        <name>Honeywell International, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140FCTF5</cusip>
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          <isin value="US3140FCTF55"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CHL Mortgage Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CHL Mortgage Pass-Through Trust, Series 2005-17, Class 1A6</title>
        <cusip>12669G5S6</cusip>
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          <isin value="US12669G5S66"/>
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        <balance>735413.62000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>RPM International, Inc.</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM International, Inc.</title>
        <cusip>749685AX1</cusip>
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          <isin value="US749685AX13"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46625HKC33"/>
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        <balance>357000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2019-H7, Class A4</title>
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          <isin value="US61771MAW01"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-07-15</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828VP28"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-31</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31417FQL57"/>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2017-HSDB, Class A</title>
        <cusip>95001EAA6</cusip>
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          <isin value="US95001EAA64"/>
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        <balance>100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Mortgage Loan Trust, Inc.</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc., Series 2006-WFH3, Class M1</title>
        <cusip>17309QAE4</cusip>
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          <isin value="US17309QAE44"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California State University</name>
        <lei>N/A</lei>
        <title>California State University</title>
        <cusip>13077DKU5</cusip>
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        <balance>130000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MP CLO IV Ltd.</name>
        <lei>549300X19NY1Q4WRDY28</lei>
        <title>MP CLO IV Ltd., Series 2013-2A, Class ARR</title>
        <cusip>62481RAC2</cusip>
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          <isin value="US62481RAC25"/>
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        <invCountry>KY</invCountry>
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      <invstOrSec>
        <name>AutoNation, Inc.</name>
        <lei>N/A</lei>
        <title>AutoNation, Inc.</title>
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          <isin value="US05329WAN20"/>
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          <couponKind>Fixed</couponKind>
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        <name>FHLMC Pool</name>
        <lei>N/A</lei>
        <title>UMBS</title>
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          <isin value="US3132D54Q23"/>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>New York City Housing Development Corporation Multi-Family Housing Revenue Bonds 2018 Series C-1-B</title>
        <cusip>64972C5A7</cusip>
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          <isin value="US64972C5A78"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
        <cusip>002824BE9</cusip>
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          <isin value="US002824BE94"/>
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        <balance>35000.00000000</balance>
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        <valUSD>38044.01000000</valUSD>
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          <maturityDt>2023-11-30</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31419JLR7</cusip>
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          <isin value="US31419JLR76"/>
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        <valUSD>3835.69000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WFAD8</cusip>
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        <balance>18866.06000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19893.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>FNMA</name>
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        <name>DXC Technology Co.</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Consumers Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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        <name>Lehman Brothers Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2013-01-24</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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        <name>PECO Energy Co.</name>
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          <maturityDt>2021-09-15</maturityDt>
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        <name>Bank of Nova Scotia (The)</name>
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          <maturityDt>2024-02-11</maturityDt>
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        <name>European Investment Bank</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Kilroy Realty LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PACCAR Financial Corp.</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>United States of America</name>
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        <name>FHLMC</name>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>George Washington University (The)</name>
        <lei>5493002S4P5IVD462L47</lei>
        <title>George Washington University (The), Series 2014</title>
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        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Hyundai Capital America</name>
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        <name>United States of America</name>
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        <name>DTE Electric Co.</name>
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        <name>Public Storage</name>
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        <name>FNMA</name>
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        <name>CD Mortgage Trust</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadcom, Inc.</name>
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        <title>Broadcom, Inc.</title>
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          <isin value="US11135FAM32"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <isin value="DE000C4QFCK8"/>
          <other otherDesc="Future Ticker" value="RXU0 Comdty"/>
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        <units>NC</units>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Eurex Clearing</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>Federal Republic of Germany</issuerName>
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                  <isin value="DE0001102440"/>
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            <expDate>2020-09-08</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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        <cusip>135087K52</cusip>
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          <isin value="CA135087K528"/>
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        <balance>1625000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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          <isin value="US210518DB95"/>
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        <curCd>USD</curCd>
        <valUSD>50436.58000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
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          <isin value="US110122BN77"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>113863.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179SLR6</cusip>
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          <isin value="US36179SLR66"/>
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        <balance>78440.19840000</balance>
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        <curCd>USD</curCd>
        <valUSD>83333.03000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ryder System, Inc.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>Ryder System, Inc.</title>
        <cusip>78355HKQ1</cusip>
        <identifiers>
          <isin value="US78355HKQ10"/>
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        <balance>360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398959.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526BL2</cusip>
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          <isin value="US251526BL24"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>715195.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
        <cusip>931142DP5</cusip>
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          <isin value="US931142DP52"/>
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        <balance>37000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40504.10000000</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>
          <annualizedRt>3.30000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Delta Air Lines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Delta Air Lines Pass-Through Trust, Series 2020-1, Class AA</title>
        <cusip>247361ZV3</cusip>
        <identifiers>
          <isin value="US247361ZV38"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47608.99000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2019-B10, Class 3CCA</title>
        <cusip>08162VBJ6</cusip>
        <identifiers>
          <isin value="US08162VBJ61"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59222.94000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>4.02945100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Welltower, Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower, Inc.</title>
        <cusip>95040QAL8</cusip>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599162.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2020-C56, Class XA</title>
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          <isin value="US95002RBB33"/>
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        <balance>3768000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49622219"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>19193.25000000</valUSD>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2019-C17, Class XB</title>
        <cusip>12597BAX7</cusip>
        <identifiers>
          <isin value="US12597BAX73"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44143.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>PNC Bank NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
        <title>PNC Bank NA</title>
        <cusip>69349LAR9</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291199.25000000</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>
          <annualizedRt>4.05000000</annualizedRt>
          <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>
      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>251526BR9</cusip>
        <identifiers>
          <isin value="US251526BR93"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>415591.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ventas Realty LP</name>
        <lei>N/A</lei>
        <title>Ventas Realty LP</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Corp. Trust, Series 2017-GPTX, Class A</title>
        <cusip>36257CAA5</cusip>
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          <isin value="US36257CAA53"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85554600</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128286Z8</cusip>
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          <isin value="US9128286Z85"/>
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        <balance>508000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>538793.13000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-30</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Spirit AeroSystems, Inc.</name>
        <lei>ZD2NBKV6GCC3UMGBM518</lei>
        <title>Spirit AeroSystems, Inc.</title>
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          <isin value="US85205TAK60"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>403125.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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          <annualizedRt>4.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JP Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Mortgage Trust, Series 2017-3, Class 1A6</title>
        <cusip>46647SAL4</cusip>
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          <isin value="US46647SAL43"/>
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        <balance>137036.83000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-25</maturityDt>
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          <annualizedRt>2.99999900</annualizedRt>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
        <cusip>125523AU4</cusip>
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          <isin value="US125523AU49"/>
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        <balance>98000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107483.22000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Westlake Chemical Corp.</name>
        <lei>GOXNEVUM0LL78B1OS344</lei>
        <title>Westlake Chemical Corp.</title>
        <cusip>960413AW2</cusip>
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          <isin value="US960413AW24"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30444.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>UBS Commercial Mortgage Trust, Series 2018-C8, Class C</title>
        <cusip>90276VAK5</cusip>
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          <isin value="US90276VAK52"/>
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        <balance>226000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207327.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.85924800</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co., Series C</title>
        <cusip>842400FY4</cusip>
        <identifiers>
          <isin value="US842400FY48"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53479.19000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Electric &amp; Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric &amp; Power Co., Series C</title>
        <cusip>927804FN9</cusip>
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        <balance>186000.00000000</balance>
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        <valUSD>195145.88000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3617BFTR3</cusip>
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        <balance>48933.31000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>WP Carey, Inc.</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WP Carey, Inc.</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282A7</cusip>
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        <balance>6303000.00000000</balance>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.45000000</annualizedRt>
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      <invstOrSec>
        <name>Trans-Allegheny Interstate Line Co.</name>
        <lei>N/A</lei>
        <title>Trans-Allegheny Interstate Line Co.</title>
        <cusip>893045AE4</cusip>
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        <balance>327000.00000000</balance>
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          <maturityDt>2025-06-01</maturityDt>
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          <annualizedRt>3.85000000</annualizedRt>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>United Mexican States</title>
        <cusip>91087BAE0</cusip>
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        <balance>200000.00000000</balance>
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        <valUSD>208750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co., Series M</title>
        <cusip>94974BFJ4</cusip>
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        <balance>54000.00000000</balance>
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        <valUSD>57340.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>BWAY Mortgage Trust</name>
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          <isin value="US05604FAL94"/>
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          <maturityDt>2033-03-10</maturityDt>
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      <invstOrSec>
        <name>Landwirtschaftliche Rentenbank</name>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Embraer Overseas Ltd.</name>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US6174468Q59"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.18800100</annualizedRt>
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      <invstOrSec>
        <name>Eli Lilly and Co.</name>
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        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-09-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>United Mexican States</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>Mex Bonos Desarr Fix Rt</title>
        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>Resloc UK plc</name>
        <lei>213800RE18XIC3OI1847</lei>
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          <isin value="XS0300470365"/>
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        <name>Total Capital International SA</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>Total Capital International SA</title>
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        <invCountry>FR</invCountry>
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        <name>Royal Bank of Scotland Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
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        <name>Transcontinental Gas Pipe Line Co. LLC</name>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300RD723OFH36TP29</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-NXS4, Class A4</title>
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        <name>EPR Properties</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>International Flavors &amp; Fragrances, Inc.</name>
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        <name>Mid-Atlantic Interstate Transmission LLC</name>
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        <name>Microsoft Corp.</name>
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        <name>Bank of America Corp.</name>
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          <maturityDt>2025-08-01</maturityDt>
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        <name>Dollar General Corp.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
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          <annualizedRt>4.15000000</annualizedRt>
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        <name>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-08-09</maturityDt>
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        <name>General Electric Co.</name>
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        <title>General Electric Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
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        <name>Pfizer, Inc.</name>
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        <invCountry>US</invCountry>
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        <name>KeyCorp</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>FHLMC</name>
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        <name>International Business Machines Corp.</name>
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        <name>Barclays plc</name>
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        <invCountry>GB</invCountry>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <name>Great Wolf Trust</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <issuerCat>USGA</issuerCat>
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        <name>Republic of Colombia</name>
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        <name>WhiteHorse X Ltd.</name>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>LP Credit Card ABS Master Trust</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Exelon Corp.</name>
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        <name>CHC Commercial Mortgage Trust</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Walmart, Inc.</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>FedEx Corp.</name>
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        <name>Becton Dickinson and Co.</name>
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        <name>United States of America</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp.</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>NSTAR Electric Co.</name>
        <lei>54930080R72Y2Z31UR68</lei>
        <title>NSTAR Electric Co.</title>
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        <balance>18000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Electric Power Co., Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co., Inc., Series I</title>
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          <isin value="US025537AL53"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15631.58000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-CR14, Class A4</title>
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          <isin value="US12630DAY04"/>
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        <curCd>USD</curCd>
        <valUSD>54453.37000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-02-10</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2012-23</title>
        <cusip>38378BDB2</cusip>
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        <balance>44176.83200000</balance>
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        <curCd>USD</curCd>
        <valUSD>477.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.32080000</annualizedRt>
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      <invstOrSec>
        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Ecopetrol SA</name>
        <lei>254900IDGKCJICKBPA66</lei>
        <title>Ecopetrol SA</title>
        <cusip>279158AL3</cusip>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136669.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
        <cusip>512807AV0</cusip>
        <identifiers>
          <isin value="US512807AV02"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20389.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625HRL6</cusip>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>Duke Energy Florida LLC</title>
        <cusip>26444HAJ0</cusip>
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          <isin value="US26444HAJ05"/>
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        <balance>272000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>274253.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
        <cusip>458140BG4</cusip>
        <identifiers>
          <isin value="US458140BG44"/>
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        <balance>41000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.73400000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J7R64</cusip>
        <identifiers>
          <isin value="US3140J7R640"/>
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        <balance>122387.30240000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140HJF71</cusip>
        <identifiers>
          <isin value="US3140HJF712"/>
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        <balance>20512.64080000</balance>
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        <curCd>USD</curCd>
        <valUSD>23478.92000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>31292LGU3</cusip>
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          <isin value="US31292LGU35"/>
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        <balance>42817.47000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47190.08000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>GCAT Trust</name>
        <lei>N/A</lei>
        <title>GCAT Trust, Series 2019-NQM3, Class M1</title>
        <cusip>36167VAD6</cusip>
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          <isin value="US36167VAD64"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>443603.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.44999900</annualizedRt>
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      <invstOrSec>
        <name>Alabama Power Co.</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>Alabama Power Co., Series 13-A</title>
        <cusip>010392FK9</cusip>
        <identifiers>
          <isin value="US010392FK97"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16389.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Michigan State Housing Development Authority</name>
        <lei>549300NSWW1HVXE93T03</lei>
        <title>Michigan State Housing Development Authority Rental Housing Revenue Bonds, Series B</title>
        <cusip>59465M5M3</cusip>
        <identifiers>
          <isin value="US59465M5M34"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11115.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
        <cusip>22822VAH4</cusip>
        <identifiers>
          <isin value="US22822VAH42"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55772.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GMF Floorplan Owner Revolving Trust</name>
        <lei>N/A</lei>
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        <name>Capital One Financial Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>McDonald's Corp.</name>
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        <name>Energy Transfer Operating LP</name>
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        <name>University of Southern California</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>European Bank for Reconstruction &amp; Development</name>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <name>FNMA</name>
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        <name>Republic of Peru</name>
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        <title>Bonos de la Tesoreria</title>
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        <name>Structured Adjustable Rate Mortgage Loan Trust</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>GATX Corp.</name>
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        <name>International Business Machines Corp.</name>
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        <name>America Movil SAB de CV</name>
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        <name>State of California</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HarborView Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cox Communications, Inc.</name>
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      <invstOrSec>
        <name>Reperforming Loan REMIC Trust</name>
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        <name>Sprint Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CSX Corp.</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX Corp.</title>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>Equinor ASA</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <name>Landwirtschaftliche Rentenbank</name>
        <lei>529900Z3J0N6S0F7CT25</lei>
        <title>Landwirtschaftliche Rentenbank</title>
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        <invCountry>DE</invCountry>
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        <name>Enterprise Products Operating LLC</name>
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        <title>Enterprise Products Operating LLC</title>
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        <name>Walgreens Boots Alliance, Inc.</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>Walgreens Boots Alliance, Inc.</title>
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        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138YTRT3</cusip>
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          <isin value="US3138YTRT38"/>
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        <balance>4019.37060000</balance>
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        <curCd>USD</curCd>
        <valUSD>4265.16000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087K78</cusip>
        <identifiers>
          <isin value="US135087K787"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105538.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equifax, Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
        <cusip>294429AQ8</cusip>
        <identifiers>
          <isin value="US294429AQ85"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52874.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135BC9</cusip>
        <identifiers>
          <isin value="US023135BC96"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57051.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179UWB4</cusip>
        <identifiers>
          <isin value="US36179UWB42"/>
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        <balance>226551.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245554.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc.</title>
        <cusip>57636QAM6</cusip>
        <identifiers>
          <isin value="US57636QAM69"/>
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        <balance>129000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144078.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, Series 4989, Class FB</title>
        <cusip>3137FUKQ6</cusip>
        <identifiers>
          <isin value="US3137FUKQ62"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298454.11000000</valUSD>
        <pctVal>0.031398709840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.54388100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175AZ7</cusip>
        <identifiers>
          <isin value="US161175AZ73"/>
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        <balance>163000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>215060.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.38400000</annualizedRt>
          <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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31418BK47</cusip>
        <identifiers>
          <isin value="US31418BK475"/>
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        <balance>1047947.40000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1104816.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Michigan State Housing Development Authority</name>
        <lei>549300NSWW1HVXE93T03</lei>
        <title>Michigan State Housing Development Authority Rental Housing Revenue Bonds, Series A</title>
        <cusip>59465M4M4</cusip>
        <identifiers>
          <isin value="US59465M4M43"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10950.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EPJ54</cusip>
        <identifiers>
          <isin value="US3138EPJ548"/>
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        <balance>34270.82680000</balance>
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        <curCd>USD</curCd>
        <valUSD>36517.51000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WHD25</cusip>
        <identifiers>
          <isin value="US3138WHD250"/>
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        <balance>29264.86020000</balance>
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        <curCd>USD</curCd>
        <valUSD>30931.03000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>CNOOC Finance 2013 Ltd.</name>
        <lei>5493006KAH3PSSMCES09</lei>
        <title>CNOOC Finance 2013 Ltd.</title>
        <cusip>12625GAC8</cusip>
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          <isin value="US12625GAC87"/>
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        <balance>128000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133720.00000000</valUSD>
        <pctVal>0.014067943242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738EAS4</cusip>
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          <isin value="US06738EAS46"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207177.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.68400000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sabra Health Care LP</name>
        <lei>549300OVKLRFSIQG0H81</lei>
        <title>Sabra Health Care LP</title>
        <cusip>78572XAG6</cusip>
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          <isin value="US78572XAG60"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22875.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J55S4</cusip>
        <identifiers>
          <isin value="US3140J55S40"/>
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        <balance>60527.02100000</balance>
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        <curCd>USD</curCd>
        <valUSD>66574.87000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hasbro, Inc.</name>
        <lei>549300NUB6D2R1ITYR45</lei>
        <title>Hasbro, Inc.</title>
        <cusip>418056AZ0</cusip>
        <identifiers>
          <isin value="US418056AZ06"/>
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        <balance>8000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8328.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967LW9</cusip>
        <identifiers>
          <isin value="US172967LW98"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283977.53000000</valUSD>
        <pctVal>0.029875708750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>21H042679</cusip>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Corporate Office Properties LP</name>
        <lei>H0TWO5VRNEP6CQAWPX27</lei>
        <title>Corporate Office Properties LP</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140EW4P7</cusip>
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          <isin value="US3140EW4P75"/>
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        <balance>5429.93690000</balance>
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        <curCd>USD</curCd>
        <valUSD>5742.48000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WUAX1</cusip>
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          <isin value="US3138WUAX14"/>
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        <balance>47449.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52278.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp.</title>
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          <isin value="US756109AN42"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105064.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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          <isin value="US37045XCP96"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874DK0</cusip>
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          <isin value="US026874DK01"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28239.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>Duke Energy Carolinas LLC</title>
        <cusip>26442CBA1</cusip>
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        <balance>1346000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1448230.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EOG Resources, Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG Resources, Inc.</title>
        <cusip>26875PAU5</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>New York City Housing Development Corporation Multi-Family Housing Revenue Bonds 2018 Series C-1-A</title>
        <cusip>64972C4S9</cusip>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21189.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>Procter &amp; Gamble Co. (The)</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>Procter &amp; Gamble Co. (The)</title>
        <cusip>742718EQ8</cusip>
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        <balance>125000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.70000000</annualizedRt>
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      <invstOrSec>
        <name>BWAY Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05604FAC95"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>3.45430000</annualizedRt>
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        <name>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EQHU9</cusip>
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        <balance>22267.40260000</balance>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Doric Nimrod Air Alpha Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Doric Nimrod Air Alpha Pass-Through Trust, Series 2013-1, Class A</title>
        <cusip>233283AA8</cusip>
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        <balance>577901.21040000</balance>
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        <curCd>USD</curCd>
        <valUSD>518262.33000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-30</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417GH90</cusip>
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        <balance>7561.05000000</balance>
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        <valUSD>8280.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Anheuser-Busch Cos. LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>NSTAR Electric Co.</name>
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        <name>Edison International</name>
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        <name>Eastman Chemical Co.</name>
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        <name>Midocean Credit CLO IX</name>
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        <name>FHLB</name>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>Bank of America Corp.</name>
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        <name>Otis Worldwide Corp.</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>Altria Group, Inc.</name>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Discover Financial Services</name>
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        <name>TJX Cos., Inc. (The)</name>
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      <invstOrSec>
        <name>CyrusOne LP</name>
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      <invstOrSec>
        <name>DBUBS Mortgage Trust</name>
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          <isin value="US23305JAA07"/>
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        <name>RBSSP Resecuritization Trust</name>
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        <name>GMACM Mortgage Loan Trust</name>
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        <name>Keurig Dr Pepper, Inc.</name>
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        <name>American Municipal Power, Inc.</name>
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        <name>Consumers Energy Co.</name>
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        <name>FNMA</name>
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        <name>Citigroup Mortgage Loan Trust</name>
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        <name>LCCM</name>
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        <name>Odebrecht Drilling Norbe VIII/IX Ltd.</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-15</maturityDt>
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          <annualizedRt>3.70000000</annualizedRt>
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      <invstOrSec>
        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
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          <isin value="US760759AM22"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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          <isin value="US594918BP86"/>
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        <balance>75000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.55000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
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        <cusip>01F022691</cusip>
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          <isin value="US01F0226914"/>
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        <balance>13700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14228199.39000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VBK5</cusip>
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          <isin value="US55336VBK52"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26033.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Western Union Co. (The)</name>
        <lei>28ID94QU1140NC23S047</lei>
        <title>Western Union Co. (The)</title>
        <cusip>959802AX7</cusip>
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          <isin value="US959802AX73"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26893.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122BY3</cusip>
        <identifiers>
          <isin value="US110122BY33"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51920.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KBN9</cusip>
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        <balance>700000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.95000000</annualizedRt>
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      <invstOrSec>
        <name>CC Holdings GS V LLC</name>
        <lei>N/A</lei>
        <title>CC Holdings GS V LLC</title>
        <cusip>14987BAE3</cusip>
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        <balance>149000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160742.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.84900000</annualizedRt>
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      <invstOrSec>
        <name>DBUBS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>DBUBS Mortgage Trust, Series 2017-BRBK, Class D</title>
        <cusip>23305JAJ1</cusip>
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          <isin value="US23305JAJ16"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101771.95000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.64766800</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650CX6</cusip>
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          <isin value="US126650CX62"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>163465.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Expedia Group, Inc.</name>
        <lei>N/A</lei>
        <title>Expedia Group, Inc.</title>
        <cusip>30212PAR6</cusip>
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          <isin value="US30212PAR64"/>
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        <balance>330000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>307725.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
        <cusip>713448CG1</cusip>
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          <isin value="US713448CG16"/>
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        <balance>62000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65657.68000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Los Angeles Community College District</name>
        <lei>N/A</lei>
        <title>County of Los Angeles Community College District, General Obligation Bonds, Series 2008-E</title>
        <cusip>54438CNZ1</cusip>
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          <isin value="US54438CNZ13"/>
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        <balance>25000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61744YAN8</cusip>
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          <isin value="US61744YAN85"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>211777.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
        <cusip>29379VBA0</cusip>
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          <isin value="US29379VBA08"/>
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        <balance>78000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>91527.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
        <title>Pennsylvania Higher Education Assistance Agency, Series 2009-1, Class A1</title>
        <cusip>709163HT9</cusip>
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          <isin value="US709163HT90"/>
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        <balance>164567.50000000</balance>
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        <name>Union Pacific Corp.</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>CNOOC Finance 2015 USA LLC</name>
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        <name>United Parcel Service, Inc.</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>FHLMC</name>
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        <name>Deutsche Bank AG</name>
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        <invCountry>DE</invCountry>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>European Investment Bank</name>
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        <name>TransCanada PipeLines Ltd.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>GS Mortgage Securities Trust</name>
        <lei>549300WZ62L3Y22NOZ64</lei>
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      <invstOrSec>
        <name>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
        <lei>N/A</lei>
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          <isin value="US64971XGG79"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140J75N1</cusip>
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          <isin value="US3140J75N17"/>
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        <curCd>USD</curCd>
        <valUSD>26637.39000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Republic Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aviation Capital Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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          <isin value="US00206RCP55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Caterpillar Financial Services Corp.</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-08</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Invitation Homes Trust</name>
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          <isin value="US46187VAA70"/>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Nomura Holdings, Inc.</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>Nomura Holdings, Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US30307RAE71"/>
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        <balance>20000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH Industrial Capital LLC</title>
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          <isin value="US12592BAH78"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ERRB8</cusip>
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          <isin value="US3138ERRB83"/>
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          <maturityDt>2046-11-01</maturityDt>
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        <name>Oesterreichische Kontrollbank AG</name>
        <lei>5299000OVRLMF858L016</lei>
        <title>Oesterreichische Kontrollbank AG</title>
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        <invCountry>AT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-07</maturityDt>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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        <name>AmerisourceBergen Corp.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>AmerisourceBergen Corp.</title>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179SGK7</cusip>
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        <balance>184855.03000000</balance>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>FNMA</name>
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          <isin value="US3140Q9ZX47"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Newmont Corp.</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>Nationwide Building Society</name>
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        <title>Nationwide Building Society</title>
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          <isin value="US63861VAA52"/>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-08</maturityDt>
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      <invstOrSec>
        <name>Sequoia Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US81743XAA72"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-19</maturityDt>
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      <invstOrSec>
        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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          <isin value="US037833BY53"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-23</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency Revenue Bonds, Caregroup Issue, Series J-2</title>
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        <balance>30000.00000000</balance>
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        <valUSD>35243.10000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
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          <isin value="US29444UAQ94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Baltimore Gas &amp; Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
        <title>Baltimore Gas &amp; Electric Co.</title>
        <cusip>059165EL0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-15</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>Transcontinental Gas Pipe Line Co. LLC</name>
        <lei>N/A</lei>
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          <isin value="US893574AN31"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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      <invstOrSec>
        <name>Kennametal, Inc.</name>
        <lei>549300GZDSG25XUV0Y08</lei>
        <title>Kennametal, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>CSMC Trust</name>
        <lei>N/A</lei>
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        <cusip>12652XAA1</cusip>
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          <isin value="US12652XAA19"/>
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        <balance>100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-13</maturityDt>
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          <annualizedRt>3.64630000</annualizedRt>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>Kreditanstalt fuer Wiederaufbau</title>
        <cusip>500769HM9</cusip>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>City of Seattle WA Municipal Light &amp; Power Revenue</name>
        <lei>N/A</lei>
        <title>City of Seattle</title>
        <cusip>812643TW4</cusip>
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        <balance>70000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Triborough Bridge &amp; Tunnel Authority</name>
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        <title>Triborough Bridge and Tunnel Authority General Revenue Bonds, Series 2017A</title>
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        <name>MortgageIT Trust</name>
        <lei>N/A</lei>
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        <name>Dell International LLC</name>
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        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
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        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.15000000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.30000000</annualizedRt>
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        <name>Cent CLO 19 Ltd.</name>
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        <valUSD>90333.18000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Dormitory Authority</name>
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        <balance>45000.00000000</balance>
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        <valUSD>62842.05000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-03-15</maturityDt>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
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          <isin value="US842400GS60"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Ovintiv, Inc.</name>
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        <title>Ovintiv, Inc.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-15</maturityDt>
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          <annualizedRt>3.90000000</annualizedRt>
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        <name>Microsoft Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.37500000</annualizedRt>
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        <name>N/A</name>
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        <name>Ecopetrol SA</name>
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        <invCountry>CO</invCountry>
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        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Shell International Finance BV</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
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        <invCountry>NL</invCountry>
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        <name>Asian Development Bank</name>
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        <title>Asian Development Bank</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>1800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1922027.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36241LVF0</cusip>
        <identifiers>
          <isin value="US36241LVF02"/>
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        <balance>21705.39300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24681.07000000</valUSD>
        <pctVal>0.002596559167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3140HUXQ4</cusip>
        <identifiers>
          <isin value="US3140HUXQ45"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4489384.80000000</valUSD>
        <pctVal>0.472303399330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.74000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WESF7</cusip>
        <identifiers>
          <isin value="US3138WESF73"/>
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        <balance>36952.08200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41661.83000000</valUSD>
        <pctVal>0.004383011215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417BA80</cusip>
        <identifiers>
          <isin value="US31417BA809"/>
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        <balance>32323.01160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35372.06000000</valUSD>
        <pctVal>0.003721299225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot, Inc. (The)</title>
        <cusip>437076CB6</cusip>
        <identifiers>
          <isin value="US437076CB65"/>
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        <balance>46000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50497.17000000</valUSD>
        <pctVal>0.005312528577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</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>Citizens Financial Group, Inc.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group, Inc.</title>
        <cusip>174610AN5</cusip>
        <identifiers>
          <isin value="US174610AN57"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30444.22000000</valUSD>
        <pctVal>0.003202868374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</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>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PAH9</cusip>
        <identifiers>
          <isin value="US46647PAH91"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59118.21000000</valUSD>
        <pctVal>0.006219500619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.21999800</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>Central Puget Sound Regional Transit Authority</name>
        <lei>N/A</lei>
        <title>The Central Puget Sound Regional Transit Authority Sales Tax Improvement and Refunding Bonds, Series 2015S-1</title>
        <cusip>15504RGJ2</cusip>
        <identifiers>
          <isin value="US15504RGJ23"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23332.80000000</valUSD>
        <pctVal>0.002454715121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>Volkswagen Group of America Finance LLC</title>
        <cusip>928668AQ5</cusip>
        <identifiers>
          <isin value="US928668AQ54"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497839.10000000</valUSD>
        <pctVal>0.052374904296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-12</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.37463100</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>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
        <cusip>67054KAA7</cusip>
        <identifiers>
          <isin value="US67054KAA79"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>311970.00000000</valUSD>
        <pctVal>0.032820642037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>Parker-Hannifin Corp.</title>
        <cusip>701094AJ3</cusip>
        <identifiers>
          <isin value="US701094AJ33"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108837.04000000</valUSD>
        <pctVal>0.011450144341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>Vantage Data Centers Issuer LLC</name>
        <lei>5493000RL8X7WTQ7HO20</lei>
        <title>Vantage Data Centers Issuer LLC, Series 2019-1A, Class A2</title>
        <cusip>92212KAA4</cusip>
        <identifiers>
          <isin value="US92212KAA43"/>
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        <balance>743750.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>755108.62000000</valUSD>
        <pctVal>0.079440810707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.18800000</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>Commercial Mortgage Trust</name>
        <lei>5493004GWEVMOU8S3L34</lei>
        <title>Commercial Mortgage Trust, Series 2014-UBS4, Class C</title>
        <cusip>12591QAW2</cusip>
        <identifiers>
          <isin value="US12591QAW24"/>
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        <balance>21000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20077.76000000</valUSD>
        <pctVal>0.002112270326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.80087400</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F020695</cusip>
        <identifiers>
          <isin value="US01F0206957"/>
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        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8149375.20000000</valUSD>
        <pctVal>0.857350790998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>General Electric Co.</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
        <cusip>369604BW2</cusip>
        <identifiers>
          <isin value="US369604BW26"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>694347.08000000</valUSD>
        <pctVal>0.073048424407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
        <cusip>571748AR3</cusip>
        <identifiers>
          <isin value="US571748AR30"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37226.85000000</valUSD>
        <pctVal>0.003916431445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>Kroger Co. (The)</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>Kroger Co. (The)</title>
        <cusip>501044DL2</cusip>
        <identifiers>
          <isin value="US501044DL23"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30334.78000000</valUSD>
        <pctVal>0.003191354795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BP Capital Markets America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CNH Industrial Capital LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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          <isin value="US31416VXQ21"/>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-15</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lennar Corp.</name>
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        <title>Lennar Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-01-15</maturityDt>
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        <name>General Electric Co.</name>
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        <title>General Electric Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Indonesia</name>
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        <title>Republic of Indonesia</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-11</maturityDt>
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        <name>Westpac Banking Corp.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cigna Corp.</name>
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        <title>Cigna Corp.</title>
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        <name>General Motors Co.</name>
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        <name>DBUBS Mortgage Trust</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Roper Technologies, Inc.</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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          <maturityDt>2023-01-18</maturityDt>
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      <invstOrSec>
        <name>Daimler Finance North America LLC</name>
        <lei>549300423Z16BB673J12</lei>
        <title>Daimler Finance North America LLC</title>
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          <isin value="US233851DU57"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-15</maturityDt>
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          <annualizedRt>2.55000000</annualizedRt>
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      <invstOrSec>
        <name>Barclays Bank plc</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>Barclays Bank plc</title>
        <cusip>06740L8C2</cusip>
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        <balance>900000.00000000</balance>
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        <valUSD>976500.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>5493001SKB2HKIF64L70</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-C27, Class C</title>
        <cusip>94989DBC2</cusip>
        <identifiers>
          <isin value="US94989DBC20"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>271361.64000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.89400000</annualizedRt>
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      <invstOrSec>
        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy, Inc.</title>
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          <isin value="US25746UBY47"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50500.00000000</valUSD>
        <pctVal>0.005312826306</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.74999900</annualizedRt>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co., Series A</title>
        <cusip>842400GH0</cusip>
        <identifiers>
          <isin value="US842400GH06"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25419.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2R3</cusip>
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          <isin value="US95000U2R36"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101591.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.65399800</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Los Angeles Department of Water</name>
        <lei>N/A</lei>
        <title>Los Angeles Department of Water</title>
        <cusip>544525NZ7</cusip>
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          <isin value="US544525NZ72"/>
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        <balance>465000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>638519.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00800000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>20 Times Square Trust</name>
        <lei>N/A</lei>
        <title>20 Times Square Trust, Series 2018-20TS, Class F</title>
        <cusip>90137LAL4</cusip>
        <identifiers>
          <isin value="US90137LAL45"/>
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        <balance>112000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99500.32000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.20323000</annualizedRt>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816BR9</cusip>
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          <isin value="US025816BR90"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27067.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
        <cusip>747525AR4</cusip>
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          <isin value="US747525AR43"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>Asian Development Bank</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
        <cusip>045167CX9</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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        <name>Bank of New York Mellon Corp. (The)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp. (The), Series E</title>
        <cusip>064058AD2</cusip>
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          <isin value="US064058AD28"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MAA3</cusip>
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          <isin value="US00774MAA36"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2017-C39, Class XA</title>
        <cusip>95000XAH0</cusip>
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          <isin value="US95000XAH08"/>
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        <balance>2479011.74000000</balance>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Corp. Trust, Series 2019-SOHO, Class E</title>
        <cusip>36257XAN1</cusip>
        <identifiers>
          <isin value="US36257XAN12"/>
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        <balance>246000.00000000</balance>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ENGF0</cusip>
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        <balance>265050.09560000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nomura Home Equity Loan, Inc. Home Equity Loan Trust</name>
        <lei>N/A</lei>
        <title>Nomura Home Equity Loan, Inc. Home Equity Loan Trust, Series 2007-1, Class 2A1A</title>
        <cusip>65537KAB6</cusip>
        <identifiers>
          <isin value="US65537KAB61"/>
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        <balance>1899621.86720000</balance>
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        <curCd>USD</curCd>
        <valUSD>1774969.63000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.50450000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <name>ERAC USA Finance LLC</name>
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        <name>Bear Stearns ARM Trust</name>
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        <name>Discover Financial Services</name>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>Duke Energy Carolinas LLC</name>
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        <name>Hasbro, Inc.</name>
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        <name>United States of America</name>
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        <name>International Business Machines Corp.</name>
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        <name>DBUBS Mortgage Trust</name>
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        <name>Oracle Corp.</name>
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        <name>Labrador Aviation Finance Ltd.</name>
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        <name>Dell International LLC</name>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NGPL PipeCo LLC</name>
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        <curCd>USD</curCd>
        <valUSD>52048.95000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-12-15</maturityDt>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US31417FVE59"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>Starbucks Corp.</title>
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          <isin value="US855244AK58"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>GLP Capital LP</name>
        <lei>N/A</lei>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cork Street CLO Designated Activity Co.</name>
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        <cusip>N/A</cusip>
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          <isin value="XS1319591761"/>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-27</maturityDt>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="UXYU0CM"/>
          <other otherDesc="Future Ticker" value="UXYU0 Comdty"/>
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        <curCd>USD</curCd>
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              <counterpartyName>CME Clearing House</counterpartyName>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PAP18"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-23</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US68389XBM65"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
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          <annualizedRt>2.65000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <balance>56796.18220000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54272.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>Suncor Energy, Inc.</name>
        <lei>549300W70ZOQDVLCHY06</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>71644EAJ1</cusip>
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          <isin value="US71644EAJ10"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Molson Coors Beverage Co.</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co.</title>
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          <isin value="US60871RAG56"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US68389XBR52"/>
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        <balance>70000.00000000</balance>
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          <maturityDt>2023-02-15</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <maturityDt>2023-01-15</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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        <name>SSM Health Care Corp.</name>
        <lei>5493000QP6H63JFPC580</lei>
        <title>SSM Health Care Corp., Series 2018</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.68800000</annualizedRt>
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        <name>Penske Truck Leasing Co. LP</name>
        <lei>N/A</lei>
        <title>Penske Truck Leasing Co. LP</title>
        <cusip>709599AH7</cusip>
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        <balance>450000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140HHWE13"/>
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        <curCd>USD</curCd>
        <valUSD>54549.68000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Republic of Indonesia</name>
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        <title>Republic of Indonesia</title>
        <cusip>N/A</cusip>
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        <balance>1450000000.00000000</balance>
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        <currencyConditional curCd="IDR" exchangeRt="14285.00000000"/>
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        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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      <invstOrSec>
        <name>BX Trust</name>
        <lei>N/A</lei>
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          <isin value="US05606FAN33"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>301802.56000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-12-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.07545600</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Owens Corning</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>Owens Corning</title>
        <cusip>690742AJ0</cusip>
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          <isin value="US690742AJ00"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109047.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WFGY6</cusip>
        <identifiers>
          <isin value="US3138WFGY65"/>
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        <balance>23841.21240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25153.89000000</valUSD>
        <pctVal>0.002646301950</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Bank of Scotland Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>Royal Bank of Scotland Group plc</title>
        <cusip>780097BD2</cusip>
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          <isin value="US780097BD21"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>753329.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49620403"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
        <cusip>83368RAL6</cusip>
        <identifiers>
          <isin value="US83368RAL69"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>538660.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SoFi Professional Loan Program Trust</name>
        <lei>N/A</lei>
        <title>SoFi Professional Loan Program Trust, Series 2018-B, Class A1FX</title>
        <cusip>83404RAA6</cusip>
        <identifiers>
          <isin value="US83404RAA68"/>
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        <balance>60268.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60377.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.64000000</annualizedRt>
          <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>Stifel Financial Corp.</name>
        <lei>549300E5F07FE5GHJX84</lei>
        <title>Stifel Financial Corp.</title>
        <cusip>860630AG7</cusip>
        <identifiers>
          <isin value="US860630AG72"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>730643.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140E7FT2</cusip>
        <identifiers>
          <isin value="US3140E7FT29"/>
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        <balance>9718.04000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10721.91000000</valUSD>
        <pctVal>0.001127992980</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Scentre Group Trust</name>
        <lei>549300SQ859FBKRKSI77</lei>
        <title>Scentre Group Trust 1</title>
        <cusip>80622GAE4</cusip>
        <identifiers>
          <isin value="US80622GAE44"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>768892.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140FKTD2</cusip>
        <identifiers>
          <isin value="US3140FKTD24"/>
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        <balance>1987.84020000</balance>
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        <curCd>USD</curCd>
        <valUSD>2154.11000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Public Service Electric &amp; Gas Co.</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric &amp; Gas Co.</title>
        <cusip>74456QBX3</cusip>
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          <isin value="US74456QBX34"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103654.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PFP Ltd.</name>
        <lei>N/A</lei>
        <title>PFP Ltd., Series 2019-6, Class A</title>
        <cusip>69346WAA5</cusip>
        <identifiers>
          <isin value="US69346WAA53"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>290756.82000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-14</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.24512800</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Korea Development Bank (The)</name>
        <lei>549300ML2LNRZUCS7149</lei>
        <title>Korea Development Bank (The)</title>
        <cusip>50065TAC7</cusip>
        <identifiers>
          <isin value="US50065TAC71"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52531.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New York City Water &amp; Sewer System</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>City of New York Municipal Water Finance Authority, Water &amp; Sewer System, Revenue Bonds, Series 2011EE</title>
        <cusip>64972FZ74</cusip>
        <identifiers>
          <isin value="US64972FZ744"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184332.60000000</valUSD>
        <pctVal>0.019392615573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nucor Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Otis Worldwide Corp.</name>
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        <title>Otis Worldwide Corp.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-05</maturityDt>
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      <invstOrSec>
        <name>Suncor Energy, Inc.</name>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>BBCMS Trust</name>
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          <isin value="US05547HAA95"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-10</maturityDt>
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        <name>Oriental Republic of Uruguay</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>UY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-27</maturityDt>
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        <name>VOLT LXXXVII LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-25</maturityDt>
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        <name>Republic of Indonesia</name>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>FNMA</name>
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        <valUSD>47484.40000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Lam Research Corp.</name>
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        <title>Lam Research Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-03-15</maturityDt>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.45000000</annualizedRt>
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        <name>NBCUniversal Enterprise, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Packaging Corp. of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
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        <name>Banco Santander Mexico SA Institucion de Banca Multiple Grupo Financiero Santand</name>
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        <name>Marathon CLO VII Ltd.</name>
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        <name>NSTAR Electric Co.</name>
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        <name>VMware, Inc.</name>
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        <title>VMware, Inc.</title>
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        <name>Jefferies Group LLC</name>
        <lei>NY9Q8VBNB6D1L6YV0J84</lei>
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        <invCountry>US</invCountry>
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        <name>Province of Ontario Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>Province of Ontario</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLP Capital LP</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-01</maturityDt>
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        <name>BX Trust</name>
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          <maturityDt>2041-12-09</maturityDt>
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        <name>Odebrecht Offshore Drilling Finance Ltd.</name>
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        <title>Odebrecht Offshore Drilling Finance Ltd.</title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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        <name>Indiana Housing &amp; Community Development Authority</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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        <name>Dow Chemical Co. (The)</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
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        <balance>20000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <name>GNMA</name>
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        <title>GNMA</title>
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        <name>Chevron Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Regency Centers LP</name>
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        <name>United States of America</name>
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        <name>Boston Scientific Corp.</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
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        <name>GNMA</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <invCountry>US</invCountry>
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        <name>BP Capital Markets America, Inc.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP Capital Markets America, Inc.</title>
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        <balance>30000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
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      <invstOrSec>
        <name>PPG Industries, Inc.</name>
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        <title>PPG Industries, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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      <invstOrSec>
        <name>UniCredit SpA</name>
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        <title>UniCredit SpA</title>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-12-04</maturityDt>
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        <name>Enel Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
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        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>RPM International, Inc.</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM International, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-01-15</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>3000000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-05-31</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <name>International Finance Corp.</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <maturityDt>2023-11-15</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179VKP4</cusip>
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        <name>Reynolds American, Inc.</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>Reynolds American, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <issuerCat>USGA</issuerCat>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>CHT Mortgage Trust</name>
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      <invstOrSec>
        <name>Arrow Electronics, Inc.</name>
        <lei>549300YNNLBXT8N8R512</lei>
        <title>Arrow Electronics, Inc.</title>
        <cusip>042735BG4</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-09-08</maturityDt>
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        <name>Republic of Italy</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Italian Republic Government Bond</title>
        <cusip>465410BX5</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>202349.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-17</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
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        <curCd>USD</curCd>
        <valUSD>260264.90000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140X5N827"/>
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        <balance>326967.96730000</balance>
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        <curCd>USD</curCd>
        <valUSD>351260.02000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>3M Co.</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M Co.</title>
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          <isin value="US88579YBL48"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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          <isin value="US20030NDA63"/>
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        <balance>588000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>639271.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
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          <isin value="US05583JAF93"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>647087.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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          <isin value="US172967LH22"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>703817.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.95138000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp.</title>
        <cusip>14913R2B2</cusip>
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          <isin value="US14913R2B24"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50348.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132WJTW1</cusip>
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          <isin value="US3132WJTW15"/>
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        <balance>39892.92000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42764.99000000</valUSD>
        <pctVal>0.004499068591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2020-C55, Class XA</title>
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        <identifiers>
          <isin value="US95002EBF34"/>
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        <balance>4093571.73000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385495.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.44364300</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31417GWY87"/>
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        <balance>33895.84600000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>384000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>457661.95000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>4.43099900</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GHC69"/>
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        <balance>345000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-12-20</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
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          <isin value="US05578DAW20"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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        <name>BANK</name>
        <lei>N/A</lei>
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          <isin value="US06540WBE21"/>
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        <balance>249000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3140FXB27</cusip>
        <identifiers>
          <isin value="US3140FXB278"/>
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        <balance>13697.41060000</balance>
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        <curCd>USD</curCd>
        <valUSD>16087.30000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toyota Motor Credit Corp.</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp.</title>
        <cusip>89233P5F9</cusip>
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          <isin value="US89233P5F99"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55790.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
        <cusip>482480AE0</cusip>
        <identifiers>
          <isin value="US482480AE03"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57463.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</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>International Paper Co.</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>International Paper Co.</title>
        <cusip>460146CK7</cusip>
        <identifiers>
          <isin value="US460146CK70"/>
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        <balance>4000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4749.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140Q9XT5</cusip>
        <identifiers>
          <isin value="US3140Q9XT52"/>
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        <balance>66244.10510000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71165.70000000</valUSD>
        <pctVal>0.007486950556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QCVY9</cusip>
        <identifiers>
          <isin value="US3140QCVY97"/>
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        <balance>196758.59920000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210802.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
        <cusip>21036PAL2</cusip>
        <identifiers>
          <isin value="US21036PAL22"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27327.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36176DHP1</cusip>
        <identifiers>
          <isin value="US36176DHP15"/>
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        <balance>25508.92970000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28048.49000000</valUSD>
        <pctVal>0.002950826842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rockford Tower CLO Ltd.</name>
        <lei>549300KPFGDIQ0PMP224</lei>
        <title>Rockford Tower CLO Ltd., Series 2018-1A, Class A</title>
        <cusip>77342JAA1</cusip>
        <identifiers>
          <isin value="US77342JAA16"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485399.00000000</valUSD>
        <pctVal>0.051066150028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.47663000</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>Great Wolf Trust</name>
        <lei>N/A</lei>
        <title>Great Wolf Trust, Series 2019-WOLF, Class F</title>
        <cusip>39152TAQ3</cusip>
        <identifiers>
          <isin value="US39152TAQ31"/>
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        <balance>254000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213933.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.31575100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU3CB0251239"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44906535"/>
        <valUSD>592795.90000000</valUSD>
        <pctVal>0.062364785188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828W55</cusip>
        <identifiers>
          <isin value="US912828W556"/>
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        <balance>1725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1773786.45000000</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>2022-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
          <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>Moody's Corp.</name>
        <lei>549300GCEDD8YCF5WU84</lei>
        <title>Moody's Corp.</title>
        <cusip>615369AM7</cusip>
        <identifiers>
          <isin value="US615369AM79"/>
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        <balance>79000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87108.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <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>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2020-BN25, Class B</title>
        <cusip>06539WBF2</cusip>
        <identifiers>
          <isin value="US06539WBF23"/>
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        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304050.76000000</valUSD>
        <pctVal>0.031987502500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.04300100</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Corp.</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Corp., Series 2017-FL10, Class D</title>
        <cusip>46648DAL6</cusip>
        <identifiers>
          <isin value="US46648DAL64"/>
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        <balance>8009.79000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7623.38000000</valUSD>
        <pctVal>0.000802013738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.08474900</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
        <cusip>785592AD8</cusip>
        <identifiers>
          <isin value="US785592AD88"/>
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        <balance>165000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179797.00000000</valUSD>
        <pctVal>0.018915450127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2019-H6, Class A4</title>
        <cusip>61769JBA8</cusip>
        <identifiers>
          <isin value="US61769JBA88"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33839.61000000</valUSD>
        <pctVal>0.003560078618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.41700000</annualizedRt>
          <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>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XCU8</cusip>
        <identifiers>
          <isin value="US37045XCU81"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>511023.85000000</valUSD>
        <pctVal>0.053761999081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ENZJ1</cusip>
        <identifiers>
          <isin value="US3138ENZJ14"/>
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        <balance>172156.82880000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182474.46000000</valUSD>
        <pctVal>0.019197130918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BXP Trust</name>
        <lei>N/A</lei>
        <title>BXP Trust, Series 2017-CC, Class D</title>
        <cusip>05607CAL3</cusip>
        <identifiers>
          <isin value="US05607CAL37"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28788.80000000</valUSD>
        <pctVal>0.003028710771</pctVal>
        <payoffProfile>Long</payoffProfile>
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      <invstOrSec>
        <name>Energen Corp.</name>
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        <title>Energen Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
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          <isin value="US01F0426738"/>
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          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Evergy, Inc.</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy, Inc.</title>
        <cusip>30034WAA4</cusip>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36987.32000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140EW4N2</cusip>
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          <isin value="US3140EW4N28"/>
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        <balance>3357.97440000</balance>
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        <curCd>USD</curCd>
        <valUSD>3555.45000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Edwards Lifesciences Corp.</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp.</title>
        <cusip>28176EAD0</cusip>
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        <balance>21000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp.</title>
        <cusip>369550BC1</cusip>
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          <isin value="US369550BC16"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35084.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138W6SU1</cusip>
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          <isin value="US3138W6SU10"/>
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        <balance>31214.13100000</balance>
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        <curCd>USD</curCd>
        <valUSD>33441.51000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WFG26</cusip>
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          <isin value="US3138WFG265"/>
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        <balance>45284.58850000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47721.31000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2019-GSA1, Class XA</title>
        <cusip>36261PAV4</cusip>
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        <balance>199649.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12272.27000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-10</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GVM3</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Eaton Corp.</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>Eaton Corp.</title>
        <cusip>278062AC8</cusip>
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        <balance>45000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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        <balance>297000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.27500000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2020-GC45, Class XA</title>
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        <balance>3324374.01000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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        <balance>900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>913486.14000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828S76</cusip>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-31</maturityDt>
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          <annualizedRt>1.12500000</annualizedRt>
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      <invstOrSec>
        <name>Raytheon Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp.</title>
        <cusip>75513EAW1</cusip>
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        <balance>143000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>Ecolab, Inc.</name>
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        <name>Exxon Mobil Corp.</name>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <name>JP Morgan Alternative Loan Trust</name>
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        <name>City of San Antonio TX Electric &amp; Gas Systems Revenue</name>
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        <name>HSBC Holdings plc</name>
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        <name>Duke Energy Corp.</name>
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        <name>Massachusetts Development Finance Agency</name>
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        <name>GS Mortgage Securities Trust</name>
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        <name>GNMA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Daimler Finance North America LLC</name>
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      <invstOrSec>
        <name>Ares Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Indiana Michigan Power Co.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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        <name>Industrial &amp; Commercial Bank of China Ltd.</name>
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        <invCountry>CN</invCountry>
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        <name>GNMA</name>
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        <title>GNMA</title>
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          <maturityDt>2046-12-20</maturityDt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <name>Cigna Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>IMT Trust</name>
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        <name>FNMA</name>
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        <name>Japan International Cooperation Agency</name>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <name>EuroMASTR plc</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
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        <title>General Motors Financial Co., Inc.</title>
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          <isin value="US37045XCR52"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-02</maturityDt>
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          <annualizedRt>2.39299900</annualizedRt>
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        <name>Republic of the Philippines</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>BANK</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-09-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US17291EAW12"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>Fifth Third Bank NA</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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          <annualizedRt>3.74170000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140E7FV7</cusip>
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          <isin value="US3140E7FV74"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>TJX Cos., Inc. (The)</name>
        <lei>V167QI9I69W364E2DY52</lei>
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          <couponKind>Fixed</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132GSSE0</cusip>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138X2T20</cusip>
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        <balance>45495.69000000</balance>
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        <valUSD>50267.83000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>31307NNV2</cusip>
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        <balance>9071.28710000</balance>
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        <valUSD>9567.29000000</valUSD>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Norfolk Southern Corp.</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>Norfolk Southern Corp.</title>
        <cusip>655844BS6</cusip>
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        <balance>69000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179RF87</cusip>
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          <isin value="US36179RF870"/>
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        <valUSD>295205.72000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132L75W5</cusip>
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        <balance>6824.10250000</balance>
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        <curCd>USD</curCd>
        <valUSD>7438.03000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2017-DELC, Class C</title>
        <cusip>05552EAJ9</cusip>
        <identifiers>
          <isin value="US05552EAJ91"/>
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        <balance>53000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48234.91000000</valUSD>
        <pctVal>0.005074528688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.38475100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSI Asset Securitization Corp. Trust</name>
        <lei>N/A</lei>
        <title>HSI Asset Securitization Corp. Trust, Series 2006-HE1, Class 1A1</title>
        <cusip>44328AAA8</cusip>
        <identifiers>
          <isin value="US44328AAA88"/>
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        <balance>8611260.84000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3550136.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.32450000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ontario Teachers' Cadillac Fairview Properties Trust</name>
        <lei>N/A</lei>
        <title>Ontario Teachers' Cadillac Fairview Properties Trust</title>
        <cusip>68327LAA4</cusip>
        <identifiers>
          <isin value="US68327LAA44"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>512405.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kellogg Co.</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>Kellogg Co.</title>
        <cusip>487836BS6</cusip>
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          <isin value="US487836BS63"/>
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        <balance>42000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44337.81000000</valUSD>
        <pctVal>0.004664536303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F022683</cusip>
        <identifiers>
          <isin value="US01F0226831"/>
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        <balance>16167000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16824416.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nasdaq, Inc.</name>
        <lei>549300L8X1Q78ERXFD06</lei>
        <title>Nasdaq, Inc.</title>
        <cusip>631103AG3</cusip>
        <identifiers>
          <isin value="US631103AG34"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112830.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ECKY8</cusip>
        <identifiers>
          <isin value="US3138ECKY80"/>
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        <balance>3087.29690000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3364.82000000</valUSD>
        <pctVal>0.000353994142</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Latam Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Latam Airlines Pass-Through Trust, Series 2015-1, Class B</title>
        <cusip>51817UAB5</cusip>
        <identifiers>
          <isin value="US51817UAB52"/>
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        <balance>293130.45000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153893.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738EAU9</cusip>
        <identifiers>
          <isin value="US06738EAU91"/>
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        <balance>218000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243611.12000000</valUSD>
        <pctVal>0.025628981523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.33700000</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>Boston Scientific Corp.</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
        <title>Boston Scientific Corp.</title>
        <cusip>101137AQ0</cusip>
        <identifiers>
          <isin value="US101137AQ02"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044367.80000000</valUSD>
        <pctVal>0.109872172706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GGS2</cusip>
        <identifiers>
          <isin value="US06051GGS21"/>
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        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321351.52000000</valUSD>
        <pctVal>0.033807619983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.32800100</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>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2017-H1, Class XD</title>
        <cusip>61691JAA2</cusip>
        <identifiers>
          <isin value="US61691JAA25"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36049.05000000</valUSD>
        <pctVal>0.003792521607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.35660300</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>Deutsche Telekom International Finance BV</name>
        <lei>529900ERDFHS6C1M4U58</lei>
        <title>Deutsche Telekom International Finance BV</title>
        <cusip>25156PBB8</cusip>
        <identifiers>
          <isin value="US25156PBB85"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177315.33000000</valUSD>
        <pctVal>0.018654367322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2A0</cusip>
        <identifiers>
          <isin value="US95000U2A01"/>
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        <balance>92000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102154.46000000</valUSD>
        <pctVal>0.010747106978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.58400200</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>Vibrant CLO X Ltd.</name>
        <lei>N/A</lei>
        <title>Vibrant CLO X Ltd., Series 2018-10A, Class A1</title>
        <cusip>92558KAA6</cusip>
        <identifiers>
          <isin value="US92558KAA60"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>479934.00000000</valUSD>
        <pctVal>0.050491207537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.33525200</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>Long Island Power Authority</name>
        <lei>1R46U5SYJ63KQXF39168</lei>
        <title>Long Island Power Authority Electric System General Revenue Bonds, Series 2017</title>
        <cusip>542691AU4</cusip>
        <identifiers>
          <isin value="US542691AU41"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83573.70000000</valUSD>
        <pctVal>0.008792327760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F020687</cusip>
        <identifiers>
          <isin value="US01F0206874"/>
        </identifiers>
        <balance>570000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>581956.66000000</valUSD>
        <pctVal>0.061224448566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RHA3</cusip>
        <identifiers>
          <isin value="US00206RHA32"/>
        </identifiers>
        <balance>48000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57715.88000000</valUSD>
        <pctVal>0.006071969219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</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>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
        <cusip>58013MFE9</cusip>
        <identifiers>
          <isin value="US58013MFE93"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16097.14000000</valUSD>
        <pctVal>0.001693491264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2016-H14, Class FA</title>
        <cusip>38376RVV5</cusip>
        <identifiers>
          <isin value="US38376RVV58"/>
        </identifiers>
        <balance>410083.69000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>413649.33000000</valUSD>
        <pctVal>0.043517763211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-06-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.10337800</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36202FPF7</cusip>
        <identifiers>
          <isin value="US36202FPF70"/>
        </identifiers>
        <balance>35233.69220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38725.06000000</valUSD>
        <pctVal>0.004074049851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
        <cusip>931142DV2</cusip>
        <identifiers>
          <isin value="US931142DV21"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54046.28000000</valUSD>
        <pctVal>0.005685910854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PAU0</cusip>
        <identifiers>
          <isin value="US46647PAU03"/>
        </identifiers>
        <balance>354000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>383170.66000000</valUSD>
        <pctVal>0.040311270542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.79699900</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>General Electric Co.</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
        <cusip>36962G6F6</cusip>
        <identifiers>
          <isin value="US36962G6F61"/>
        </identifiers>
        <balance>54000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56203.23000000</valUSD>
        <pctVal>0.005912831660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</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>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>Bank of Montreal</title>
        <cusip>06367WMQ3</cusip>
        <identifiers>
          <isin value="US06367WMQ32"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15853.22000000</valUSD>
        <pctVal>0.001667829787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>Duke Energy Carolinas LLC</title>
        <cusip>26442CAT1</cusip>
        <identifiers>
          <isin value="US26442CAT18"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47453.36000000</valUSD>
        <pctVal>0.004992306125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967LD1</cusip>
        <identifiers>
          <isin value="US172967LD18"/>
        </identifiers>
        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95542.15000000</valUSD>
        <pctVal>0.010051462334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.88699900</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>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp.</title>
        <cusip>369550AU2</cusip>
        <identifiers>
          <isin value="US369550AU23"/>
        </identifiers>
        <balance>62000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64312.14000000</valUSD>
        <pctVal>0.006765925331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138A1UC3</cusip>
        <identifiers>
          <isin value="US3138A1UC35"/>
        </identifiers>
        <balance>339952.74500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>372126.89000000</valUSD>
        <pctVal>0.039149416447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fidelity National Information Services, Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services, Inc.</title>
        <cusip>31620MAT3</cusip>
        <identifiers>
          <isin value="US31620MAT36"/>
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        <balance>138000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152178.72000000</valUSD>
        <pctVal>0.016009883305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
        <cusip>404121AF2</cusip>
        <identifiers>
          <isin value="US404121AF27"/>
        </identifiers>
        <balance>519000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>561054.57000000</valUSD>
        <pctVal>0.059025455029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WVQ61</cusip>
        <identifiers>
          <isin value="US3138WVQ618"/>
        </identifiers>
        <balance>25304.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27639.83000000</valUSD>
        <pctVal>0.002907833978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
        <cusip>517834AG2</cusip>
        <identifiers>
          <isin value="US517834AG23"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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          <isin value="US05526DBF15"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-15</maturityDt>
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      <invstOrSec>
        <name>Ashford Hospitality Trust</name>
        <lei>N/A</lei>
        <title>Ashford Hospitality Trust, Series 2018-ASHF, Class D</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Principal Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
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          <isin value="US36192PAG19"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-11-10</maturityDt>
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        <name>Georgia-Pacific LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
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      <invstOrSec>
        <name>Campbell Soup Co.</name>
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        <title>Campbell Soup Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-15</maturityDt>
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        <name>Royal Bank of Scotland Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Conagra Brands, Inc.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands, Inc.</title>
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          <maturityDt>2023-01-25</maturityDt>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <name>Citizens Financial Group, Inc.</name>
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        <name>Health &amp; Educational Facilities Authority of the State of Missouri</name>
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        <name>GlaxoSmithKline Capital plc</name>
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        <name>SoFi Professional Loan Program LLC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Aetna, Inc.</name>
        <lei>549300QKBENKLBXQ8968</lei>
        <title>Aetna, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2037-12-15</maturityDt>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>Rosslyn Portfolio Trust</name>
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      <invstOrSec>
        <name>Credit Suisse Commercial Mortagage Securities</name>
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        <name>CVS Health Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Atmos Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MPLX LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UnitedHealth Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown Castle International Corp.</name>
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        <title>Crown Castle International Corp.</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <name>Commonwealth of Massachusetts</name>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2039-02-14</maturityDt>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160BY9</cusip>
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        <name>Verizon Communications, Inc.</name>
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        <name>Spirit Realty LP</name>
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        <name>Truist Financial Corp.</name>
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        <name>FNMA</name>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>GNMA</name>
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        <name>BAT Capital Corp.</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Japan Bank for International Cooperation</name>
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        <name>BBCMS Mortgage Trust</name>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Parker-Hannifin Corp.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GFH74"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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          <isin value="US15089QAD60"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust, Series 2019-1, Class M1</title>
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          <isin value="US89177BAC90"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1568651.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>0.00001100</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GGF00"/>
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        <balance>411000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>463635.41000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-20</maturityDt>
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          <annualizedRt>3.82399900</annualizedRt>
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      <invstOrSec>
        <name>Bancorp Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Bancorp Commercial Mortgage Trust, Series 2019-CRE5, Class B</title>
        <cusip>05972MAE4</cusip>
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          <isin value="US05972MAE49"/>
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        <balance>234000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>219347.46000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.68475000</annualizedRt>
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      <invstOrSec>
        <name>Rutgers The State University of New Jersey</name>
        <lei>549300BOYDHNW8J60112</lei>
        <title>Rutgers The State University of New Jersey</title>
        <cusip>783186UJ6</cusip>
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          <isin value="US783186UJ69"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21040.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.27000000</annualizedRt>
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      <invstOrSec>
        <name>Bear Stearns Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>Bear Stearns Commercial Mortgage Securities Trust, Series 2005-PWR7, Class B</title>
        <cusip>07383F4C9</cusip>
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          <isin value="US07383F4C96"/>
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        <balance>29000.61170000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <balance>7000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>CGDBB Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CGDBB Commercial Mortgage Trust, Series 2017-BIOC, Class D</title>
        <cusip>125282AL7</cusip>
        <identifiers>
          <isin value="US125282AL74"/>
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        <balance>182708.67970000</balance>
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        <curCd>USD</curCd>
        <valUSD>179572.43000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>1.78475000</annualizedRt>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830BH1</cusip>
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          <isin value="US539830BH11"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Fidelity National Information Services, Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services, Inc.</title>
        <cusip>31620MBJ4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>Eversource Energy, Series M</title>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority First Lien Wastewater Utility Revenue Bonds, Series 2016A</title>
        <cusip>45505MFE1</cusip>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GGK9</cusip>
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        <balance>300000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>Broadcom, Inc.</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>FNMA</name>
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        <name>Carlyle Finance Subsidiary LLC</name>
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        <name>FNMA</name>
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        <name>Intel Corp.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <name>Honeywell International, Inc.</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>NVIDIA Corp.</name>
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        <name>County of Miami-Dade FL Aviation Revenue</name>
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        <name>BAE Systems Holdings, Inc.</name>
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        <name>Pfizer, Inc.</name>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>CGDBB Commercial Mortgage Trust</name>
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        <name>Dow Chemical Co. (The)</name>
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        <name>Citigroup, Inc.</name>
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        <name>Dell International LLC</name>
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        <name>Visa, Inc.</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>American Municipal Power, Inc.</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
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          <maturityDt>2050-02-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
        <title>Cisco Systems, Inc.</title>
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          <isin value="US17275RBL50"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55174.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Reperforming Loan REMIC Trust</name>
        <lei>N/A</lei>
        <title>Reperforming Loan REMIC Trust, Series 2006-R1, Class AF1</title>
        <cusip>12669UCN8</cusip>
        <identifiers>
          <isin value="US12669UCN81"/>
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        <balance>184199.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>174008.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.52449800</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
        <cusip>254687CM6</cusip>
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          <isin value="US254687CM62"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37849.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMCC Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMCC Commercial Mortgage Securities Trust, Series 2017-JP7, Class B</title>
        <cusip>465968AK1</cusip>
        <identifiers>
          <isin value="US465968AK19"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10147.61000000</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>2050-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Autodesk, Inc.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
        <title>Autodesk, Inc.</title>
        <cusip>052769AB2</cusip>
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          <isin value="US052769AB25"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37998.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Electric Power Co., Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co., Inc.</title>
        <cusip>025537AJ0</cusip>
        <identifiers>
          <isin value="US025537AJ08"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27581.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138XZS93</cusip>
        <identifiers>
          <isin value="US3138XZS936"/>
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        <balance>43487.57000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47804.45000000</valUSD>
        <pctVal>0.005029242367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GXD1</cusip>
        <identifiers>
          <isin value="US38141GXD14"/>
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        <balance>291000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>287282.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.56237800</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>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816CF4</cusip>
        <identifiers>
          <isin value="US025816CF44"/>
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        <balance>138000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152826.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G04Z3</cusip>
        <identifiers>
          <isin value="US3135G04Z35"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250149.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H15, Class FC</title>
        <cusip>38376RDB9</cusip>
        <identifiers>
          <isin value="US38376RDB96"/>
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        <balance>330184.65000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>330245.83000000</valUSD>
        <pctVal>0.034743341253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-06-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.88337900</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2018-TALL, Class D</title>
        <cusip>05548WAG2</cusip>
        <identifiers>
          <isin value="US05548WAG24"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33821.89000000</valUSD>
        <pctVal>0.003558214394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.63325200</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140FG5Z8</cusip>
        <identifiers>
          <isin value="US3140FG5Z80"/>
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        <balance>5440.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5831.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2017-CX10, Class XB</title>
        <cusip>12595JAQ7</cusip>
        <identifiers>
          <isin value="US12595JAQ76"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14652.00000000</valUSD>
        <pctVal>0.001541456060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.21847700</annualizedRt>
          <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>Intercontinental Exchange, Inc.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange, Inc.</title>
        <cusip>45866FAD6</cusip>
        <identifiers>
          <isin value="US45866FAD69"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34087.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Masco Corp.</name>
        <lei>5GCSNMQXHEYA1JO8QN11</lei>
        <title>Masco Corp.</title>
        <cusip>574599BL9</cusip>
        <identifiers>
          <isin value="US574599BL96"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22691.38000000</valUSD>
        <pctVal>0.002387234863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAR1</cusip>
        <identifiers>
          <isin value="US55336VAR15"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210392.22000000</valUSD>
        <pctVal>0.022134204378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ameren Illinois Co.</name>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>United States of America</name>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
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      <invstOrSec>
        <name>Florida Power &amp; Light Co.</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
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        <title>Boeing Co. (The)</title>
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          <isin value="US097023CR48"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-08-01</maturityDt>
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      <invstOrSec>
        <name>BXP Trust</name>
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        <debtSec>
          <maturityDt>2039-06-13</maturityDt>
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      <invstOrSec>
        <name>Atlas Senior Loan Fund X Ltd.</name>
        <lei>N/A</lei>
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          <isin value="US04942JAC53"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31417HBJ23"/>
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        <balance>503168.76170000</balance>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3138WHFL10"/>
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        <name>Moody's Corp.</name>
        <lei>549300GCEDD8YCF5WU84</lei>
        <title>Moody's Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-12-15</maturityDt>
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        <name>AT&amp;T, Inc.</name>
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        <name>Elevation CLO Ltd.</name>
        <lei>549300BOE42FYBAXFR86</lei>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2045-08-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kilroy Realty LP</name>
        <lei>5493008CT3N3JR7P1552</lei>
        <title>Kilroy Realty LP</title>
        <cusip>49427RAL6</cusip>
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          <isin value="US49427RAL69"/>
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        <valUSD>1059618.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-01</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-06-15</maturityDt>
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          <annualizedRt>4.66300000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GHM42"/>
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        <valUSD>207743.72000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.27100000</annualizedRt>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650CL2</cusip>
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          <isin value="US126650CL25"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89774.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874DQ7</cusip>
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          <isin value="US026874DQ70"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52797.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Leidos, Inc.</name>
        <lei>5493006I78VIN6J1BQ95</lei>
        <title>Leidos, Inc.</title>
        <cusip>52532XAE5</cusip>
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          <isin value="US52532XAE58"/>
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        <balance>272000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>306054.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818EG9</cusip>
        <identifiers>
          <isin value="US907818EG97"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66566.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
        <cusip>747525AU7</cusip>
        <identifiers>
          <isin value="US747525AU71"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84773.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132JADY8</cusip>
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          <isin value="US3132JADY82"/>
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        <balance>11813.15060000</balance>
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        <curCd>USD</curCd>
        <valUSD>12945.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>City of Atlanta GA Water &amp; Wastewater Revenue</name>
        <lei>N/A</lei>
        <title>City of Atlanta, Georgia Water and Wastewater Revenue Refunding Bonds, Series 2015</title>
        <cusip>047870NE6</cusip>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23346.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BF0HZ991"/>
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        <balance>2850000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2017-1, Class B</title>
        <cusip>02378WAA7</cusip>
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          <isin value="US02378WAA71"/>
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        <balance>11126.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8353.75000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36225CC61</cusip>
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          <isin value="US36225CC615"/>
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        <balance>212.82710000</balance>
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        <curCd>USD</curCd>
        <valUSD>217.47000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25000100</annualizedRt>
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      <invstOrSec>
        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Letras do Tesouro Nacional</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRSTNCLTN7P7"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
        <cusip>98978VAS2</cusip>
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          <isin value="US98978VAS25"/>
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        <balance>50000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Symphony CLO XVII Ltd.</name>
        <lei>549300X84MR2MGY6OR68</lei>
        <title>Symphony CLO XVII Ltd., Series 2016-17A, Class AR</title>
        <cusip>87165UAN1</cusip>
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          <isin value="US87165UAN19"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594056.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.09887900</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2D4</cusip>
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          <isin value="US95000U2D40"/>
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        <balance>254000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>295857.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LoanCore Issuer Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Essex Portfolio LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Port Authority of New York &amp; New Jersey</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Anthem, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Americold 2010 LLC</name>
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        <name>Marathon Oil Corp.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Total Capital International SA</name>
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        <name>Aflac, Inc.</name>
        <lei>549300N0B7DOGLXWPP39</lei>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
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        <title>McDonald's Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.87500000</annualizedRt>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Citizens Financial Group, Inc.</name>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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      <invstOrSec>
        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>5493006UCJFJVDKIY756</lei>
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        <cusip>36251GAA2</cusip>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>Brixmor Operating Partnership LP</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <name>One Market Plaza Trust</name>
        <lei>N/A</lei>
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          <isin value="US68245HAS31"/>
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        <valUSD>2387.70000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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          <couponKind>Fixed</couponKind>
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        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2016-1, Class B</title>
        <cusip>02376YAA5</cusip>
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          <isin value="US02376YAA55"/>
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          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>MidAmerican Energy Co.</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co.</title>
        <cusip>595620AU9</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2049-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Thermo Fisher Scientific, Inc.</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>Thermo Fisher Scientific, Inc.</title>
        <cusip>883556BR2</cusip>
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          <isin value="US883556BR21"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33153.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2018-TALL, Class A</title>
        <cusip>05548WAA5</cusip>
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          <isin value="US05548WAA53"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14102.89000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.90675000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Suncor Energy, Inc.</name>
        <lei>549300W70ZOQDVLCHY06</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>867229AE6</cusip>
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          <isin value="US867229AE68"/>
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        <balance>21000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26615.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Gilead Sciences, Inc.</name>
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      <invstOrSec>
        <name>BP Capital Markets America, Inc.</name>
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      <invstOrSec>
        <name>Asian Development Bank</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Equifax, Inc.</name>
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          <maturityDt>2022-12-15</maturityDt>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Raytheon Technologies Corp.</name>
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        <name>Inter-American Development Bank</name>
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      <invstOrSec>
        <name>BlackRock, Inc.</name>
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        <name>Home Depot, Inc. (The)</name>
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        <name>GNMA</name>
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        <name>Xcel Energy, Inc.</name>
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        <name>Brighthouse Financial, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>FHLB</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>549300WZ62L3Y22NOZ64</lei>
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        <name>BBCMS Mortgage Trust</name>
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        <name>GS Mortgage Securities Corp. II</name>
        <lei>N/A</lei>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCT6</cusip>
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        <balance>382000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>457958.98000000</valUSD>
        <pctVal>0.048179336956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K062, Class A2</title>
        <cusip>3137BUX60</cusip>
        <identifiers>
          <isin value="US3137BUX604"/>
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        <balance>29565.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33904.98000000</valUSD>
        <pctVal>0.003566955835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.41300000</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>CSAIL Commercial Mortgage Trust</name>
        <lei>549300D5DIOOMKWXVZ20</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2015-C2, Class A4</title>
        <cusip>12634NAT5</cusip>
        <identifiers>
          <isin value="US12634NAT54"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10814.74000000</valUSD>
        <pctVal>0.001137759112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50400000</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>European Bank for Reconstruction &amp; Development</name>
        <lei>549300HTGDOVDU6OGK19</lei>
        <title>European Bank for Reconstruction &amp; Development</title>
        <cusip>29874QDH4</cusip>
        <identifiers>
          <isin value="US29874QDH48"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26614.93000000</valUSD>
        <pctVal>0.002800009906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-CR21, Class A3</title>
        <cusip>12592RBF5</cusip>
        <identifiers>
          <isin value="US12592RBF55"/>
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        <balance>18514.99100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20027.39000000</valUSD>
        <pctVal>0.002106971177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.52800000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>01N032675</cusip>
        <identifiers>
          <isin value="US01N0326759"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1050468.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Helios Issuer LLC</name>
        <lei>N/A</lei>
        <title>Helios Issuer LLC, Series 2020-AA, Class A</title>
        <cusip>86746CAA9</cusip>
        <identifiers>
          <isin value="US86746CAA99"/>
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        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452250.00000000</valUSD>
        <pctVal>0.047578726677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.98000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
        <cusip>210518CZ7</cusip>
        <identifiers>
          <isin value="US210518CZ72"/>
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        <balance>62000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69857.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>International Bank for Reconstruction &amp; Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
        <cusip>459058FF5</cusip>
        <identifiers>
          <isin value="US459058FF56"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104007.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</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>CSAIL Commercial Mortgage Trust</name>
        <lei>549300UFJ8EKD81Y8R30</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2015-C1, Class C</title>
        <cusip>126281BF0</cusip>
        <identifiers>
          <isin value="US126281BF05"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285224.55000000</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>2050-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.41161600</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>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
        <cusip>456837AK9</cusip>
        <identifiers>
          <isin value="US456837AK90"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>657330.00000000</valUSD>
        <pctVal>0.069154061706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140HATG5</cusip>
        <identifiers>
          <isin value="US3140HATG54"/>
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        <balance>4487.89000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4922.17000000</valUSD>
        <pctVal>0.000517834341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140HH6H3</cusip>
        <identifiers>
          <isin value="US3140HH6H36"/>
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        <balance>6662.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7289.65000000</valUSD>
        <pctVal>0.000766903847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087K94</cusip>
        <identifiers>
          <isin value="CA135087K940"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="1.35760000"/>
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        <pctVal>0.054606949925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>Anheuser-Busch InBev Worldwide, Inc.</title>
        <cusip>035240AT7</cusip>
        <identifiers>
          <isin value="US035240AT78"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>712933.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
        <cusip>29444UBE5</cusip>
        <identifiers>
          <isin value="US29444UBE55"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27189.00000000</valUSD>
        <pctVal>0.002860404642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417FSK5</cusip>
        <identifiers>
          <isin value="US31417FSK56"/>
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        <balance>22838.99200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24468.73000000</valUSD>
        <pctVal>0.002574220048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RHR6</cusip>
        <identifiers>
          <isin value="US00206RHR66"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16522.80000000</valUSD>
        <pctVal>0.001738272603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Reliance Steel &amp; Aluminum Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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      <invstOrSec>
        <name>Royal Bank of Scotland Group plc</name>
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        <name>American Honda Finance Corp.</name>
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      <invstOrSec>
        <name>Discover Bank</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-13</maturityDt>
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        <name>Asian Development Bank</name>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49616286"/>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Citibank NA</name>
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        <name>McDonald's Corp.</name>
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        <name>Export Development Canada</name>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
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        <invCountry>KY</invCountry>

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        <name>Alimentation Couche-Tard, Inc.</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>JPMDB Commercial Mortgage Securities Trust</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Diageo Capital plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kroger Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South Carolina Public Service Authority</name>
        <lei>EMBXY64GWKA9MZGFUD26</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>HP, Inc.</name>
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        <title>HP, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>AEP Texas, Inc.</name>
        <lei>5493001L78U618KXNZ75</lei>
        <title>AEP Texas, Inc., Series H</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EQU26</cusip>
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          <isin value="US3138EQU261"/>
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        <balance>1780.16000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Salt River Project Agricultural Improvement &amp; Power District</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
        <title>Salt River Project Agricultural Improvement and Power District, Arizona Salt River Project Electric System Revenue Bonds, Series 2015A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US31418AS660"/>
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        <balance>3342.87970000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Province of Quebec Canada</name>
        <lei>549300WN65YFEQH74Y36</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>Avangrid, Inc.</name>
        <lei>549300OX0Q38NLSKPB49</lei>
        <title>Avangrid, Inc.</title>
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        <name>Turkish Airlines Pass-Through Trust</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>Asian Development Bank</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
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        <balance>250000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Brandywine Operating Partnership LP</name>
        <lei>IXBXSCONLDQ1ZI73YU71</lei>
        <title>Brandywine Operating Partnership LP</title>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25775.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>Syngenta Finance NV</name>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
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        <balance>2000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Future Ticker" value="FVU0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Avangrid, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Laboratory Corp. of America Holdings</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="49428336"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
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          <isin value="US06539WBE57"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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        <balance>25000.00000000</balance>
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        <name>Magna International, Inc.</name>
        <lei>95RWVLFZX6VGDZNNTN43</lei>
        <title>Magna International, Inc.</title>
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        <name>Altice Finco SA</name>
        <lei>549300IGQP5SEZB5Z419</lei>
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        <invCountry>LU</invCountry>
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        <name>CitiMortgage Alternative Loan Trust</name>
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        <name>CVS Health Corp.</name>
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        <title>CVS Health Corp.</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>Dell International LLC</name>
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        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>Duke Energy Carolinas LLC</title>
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        <name>FHLB</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FHLB</title>
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        <balance>200000.00000000</balance>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-17</maturityDt>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3137BG3F40"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
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          <isin value="US002824BF69"/>
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        <balance>28000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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          <isin value="US3132HPPT56"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WJEZ7</cusip>
        <identifiers>
          <isin value="US3138WJEZ70"/>
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        <balance>46185.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47999.11000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Brandywine Operating Partnership LP</name>
        <lei>IXBXSCONLDQ1ZI73YU71</lei>
        <title>Brandywine Operating Partnership LP</title>
        <cusip>105340AM5</cusip>
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          <isin value="US105340AM59"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>514844.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3128MJVQ0</cusip>
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          <isin value="US3128MJVQ09"/>
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        <balance>3214074.71000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3411195.20000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31417EHB0</cusip>
        <identifiers>
          <isin value="US31417EHB02"/>
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        <balance>23329.56970000</balance>
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        <curCd>USD</curCd>
        <valUSD>25380.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WJET1</cusip>
        <identifiers>
          <isin value="US3138WJET11"/>
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        <balance>17049.51830000</balance>
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        <curCd>USD</curCd>
        <valUSD>18052.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMDB Commercial Mortgage Securities Trust, Series 2020-COR7, Class B</title>
        <cusip>46652JBB7</cusip>
        <identifiers>
          <isin value="US46652JBB70"/>
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        <balance>298000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308809.06000000</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>2053-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.29370000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class A4</title>
        <cusip>95000AAU1</cusip>
        <identifiers>
          <isin value="US95000AAU16"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33267.02000000</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>2048-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boral Finance Pty. Ltd.</name>
        <lei>549300X2TYFVNPM0UT91</lei>
        <title>Boral Finance Pty. Ltd.</title>
        <cusip>09952AAA4</cusip>
        <identifiers>
          <isin value="US09952AAA43"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597937.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>90352JAE3</cusip>
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          <isin value="US90352JAE38"/>
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        <balance>680000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>703919.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.85900100</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Caterpillar, Inc.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>Caterpillar, Inc.</title>
        <cusip>149123CC3</cusip>
        <identifiers>
          <isin value="US149123CC35"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38524.96000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RCQ3</cusip>
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          <isin value="US00206RCQ39"/>
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        <balance>34000.00000000</balance>
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        <valUSD>40587.65000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp.</title>
        <cusip>14913Q2N8</cusip>
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          <isin value="US14913Q2N89"/>
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        <balance>80000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818ED6</cusip>
        <identifiers>
          <isin value="US907818ED66"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110672.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CME Group, Inc.</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME Group, Inc.</title>
        <cusip>12572QAG0</cusip>
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          <isin value="US12572QAG01"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83050.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCCRE Trust</name>
        <lei>N/A</lei>
        <title>BBCCRE Trust, Series 2015-GTP, Class A</title>
        <cusip>05490TAA0</cusip>
        <identifiers>
          <isin value="US05490TAA07"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>975327.57000000</valUSD>
        <pctVal>0.102608831119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>FHLMC</name>
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        <name>Citigroup, Inc.</name>
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        <name>BAT Capital Corp.</name>
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        <name>United States Small Business Administration</name>
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        <name>Dell International LLC</name>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>FNMA</name>
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        <name>BNP Paribas SA</name>
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        <name>TCI Communications, Inc.</name>
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        <name>McKesson Corp.</name>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>FHLMC</name>
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        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>FNMA</name>
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        <name>Boeing Co. (The)</name>
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        <name>Eurosail-UK plc</name>
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        <name>FHLMC</name>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>eBay, Inc.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay, Inc.</title>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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      <invstOrSec>
        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp.</title>
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        <name>Ludgate Funding plc</name>
        <lei>213800LADM2GPWI3P269</lei>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>Cottage Health Obligated Group</name>
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        <name>Bay Area Toll Authority</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Berkshire Hathaway, Inc.</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway, Inc.</title>
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        <name>TWDC Enterprises 18 Corp.</name>
        <lei>7260JQNI6SCF9FIV2392</lei>
        <title>TWDC Enterprises 18 Corp.</title>
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        <name>Republic Services, Inc.</name>
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        <name>Bayer US Finance II LLC</name>
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        <name>BBCMS Mortgage Trust</name>
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        <name>Great Hall Mortgages No. 1 plc</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Phillips 66</name>
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        <name>Humana, Inc.</name>
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        <name>Cooperatieve Rabobank UA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
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        <name>FNMA</name>
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        <name>RELX Capital, Inc.</name>
        <lei>2R15C3RTKJN1RCBOV146</lei>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Estee Lauder Cos., Inc. (The)</name>
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        <name>Baltimore Gas and Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
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        <name>CVP Cascade CLO-1 Ltd.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <name>Takeda Pharmaceutical Co. Ltd.</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>GNMA</name>
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        <name>Bank of America Corp.</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>Comcast Corp.</name>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>Digital Realty Trust LP</name>
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        <name>Apple, Inc.</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Corp. Trust, Series 2019-SOHO, Class A</title>
        <cusip>36257XAA9</cusip>
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          <isin value="US36257XAA90"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48756.05000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.08474800</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dell International LLC</name>
        <lei>N/A</lei>
        <title>Dell International LLC</title>
        <cusip>25272KAK9</cusip>
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          <isin value="US25272KAK97"/>
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        <balance>419000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>478653.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.02000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp. (The)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp. (The), Series 0012</title>
        <cusip>06406HCS6</cusip>
        <identifiers>
          <isin value="US06406HCS67"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54831.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AvalonBay Communities, Inc.</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities, Inc.</title>
        <cusip>05348EBF5</cusip>
        <identifiers>
          <isin value="US05348EBF51"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16933.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Corp.</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Corp., Series 2018-AON, Class A</title>
        <cusip>46649XAA5</cusip>
        <identifiers>
          <isin value="US46649XAA54"/>
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        <balance>36000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37974.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12830000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Affiliated Managers Group, Inc.</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group, Inc.</title>
        <cusip>008252AM0</cusip>
        <identifiers>
          <isin value="US008252AM02"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54559.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828J43</cusip>
        <identifiers>
          <isin value="US912828J439"/>
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        <balance>475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>487436.36000000</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>2022-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boston Properties LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>Boston Properties LP</title>
        <cusip>10112RAY0</cusip>
        <identifiers>
          <isin value="US10112RAY09"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53240.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Florida Gas Transmission Co. LLC</name>
        <lei>549300Q0UQF87NXNOC32</lei>
        <title>Florida Gas Transmission Co. LLC</title>
        <cusip>340711AT7</cusip>
        <identifiers>
          <isin value="US340711AT72"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500764.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K061, Class A2</title>
        <cusip>3137BTUM1</cusip>
        <identifiers>
          <isin value="US3137BTUM12"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57041.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.34699900</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>L3Harris Technologies, Inc.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3Harris Technologies, Inc.</title>
        <cusip>502431AJ8</cusip>
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          <isin value="US502431AJ86"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125128.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
        <cusip>86562MBV1</cusip>
        <identifiers>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.34800000</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XAD2</cusip>
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          <isin value="US03027XAD21"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56862.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>GlaxoSmithKline Capital, Inc.</name>
        <lei>5493007Q8VD7Q3ZYZS59</lei>
        <title>GlaxoSmithKline Capital, Inc.</title>
        <cusip>377372AN7</cusip>
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        <balance>95000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH Industrial Capital LLC</title>
        <cusip>12592BAG9</cusip>
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          <isin value="US12592BAG95"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5121.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
        <cusip>744320AL6</cusip>
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          <isin value="US744320AL68"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28451.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.87499800</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138YTMU5</cusip>
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        <balance>10642.10710000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31418BQA7</cusip>
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        <balance>2035195.66000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2135267.04000000</valUSD>
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        <name>Ameriprise Financial, Inc.</name>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
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        <name>Healthpeak Properties, Inc.</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Great Lakes Water Authority Sewage Disposal System Revenue</name>
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        <name>Southern Co. (The)</name>
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        <name>Tennessee Housing Development Agency</name>
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        <name>John Deere Capital Corp.</name>
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        <name>LSTAR Commercial Mortgage Trust</name>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Centene Corp.</name>
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        <name>KeyCorp</name>
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        <name>Raytheon Technologies Corp.</name>
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        <name>Vericrest Opportunity Loan Trust</name>
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        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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        <name>New York City Water &amp; Sewer System</name>
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        <title>New York City Water &amp; Sewer System</title>
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      <invstOrSec>
        <name>Merrill Lynch Mortgage Investors Trust MLMI</name>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
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      <invstOrSec>
        <name>BP Capital Markets plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Province of Quebec Canada</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac Banking Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>FNMA</name>
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        <name>PRPM</name>
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        <name>Micron Technology, Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NVIDIA Corp.</name>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <title>Kreditanstalt fuer Wiederaufbau</title>
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        <name>Kreditanstalt fuer Wiederaufbau</name>
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        <title>Kreditanstalt fuer Wiederaufbau</title>
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        <name>SAPPHIRE AVIATION FINANCE II Ltd.</name>
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        <name>McKesson Corp.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>Reinsurance Group of America, Inc.</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America, Inc.</title>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Thomson Reuters Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>IndyMac IMSC Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Service Properties Trust</name>
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        <name>Shell International Finance BV</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-11</maturityDt>
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      <invstOrSec>
        <name>GNMA</name>
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        <title>GNMA</title>
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          <maturityDt>2045-04-20</maturityDt>
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        <name>Delos Finance SARL</name>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Tennessee Valley Authority</name>
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        <name>Global Payments, Inc.</name>
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      <invstOrSec>
        <name>CSMC Trust</name>
        <lei>N/A</lei>
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          <maturityDt>2066-09-27</maturityDt>
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      <invstOrSec>
        <name>Medtronic, Inc.</name>
        <lei>D56MRZY2INAN94ZONZ37</lei>
        <title>Medtronic, Inc.</title>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
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        <name>United Rentals North America, Inc.</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America, Inc.</title>
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        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp.</title>
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          <maturityDt>2024-03-03</maturityDt>
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      <invstOrSec>
        <name>American Express Co.</name>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>New York City Housing Development Corp.</name>
        <lei>549300SQWVHKBRF8D702</lei>
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        <cusip>64972C4V2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Province of Ontario Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>Province of Ontario</title>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>Argentine Republic</name>
        <lei>N/A</lei>
        <title>Argentine Republic</title>
        <cusip>N/A</cusip>
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          <isin value="ARARGE3203R1"/>
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        <balance>100000.00000000</balance>
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        <invCountry>AR</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2022-04-03</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3140FQN780"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <curCd>USD</curCd>
        <valUSD>32152.01000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>VEREIT Operating Partnership LP</name>
        <lei>5493005TQOUJE1LCS698</lei>
        <title>VEREIT Operating Partnership LP</title>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>United Parcel Service, Inc.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service, Inc.</title>
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        <valUSD>26269.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
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          <isin value="US666807BP60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.03000000</annualizedRt>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The), Series A</title>
        <cusip>969457BB5</cusip>
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        <balance>45000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49622221"/>
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        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>3.04300000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2049-11-15</maturityDt>
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        <name>National Retail Properties, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>National Retail Properties, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Raytheon Technologies Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pfizer, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>KLA Corp.</name>
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        <title>KLA Corp.</title>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>HP, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-17</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49620405"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Aetna, Inc.</name>
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        <title>Aetna, Inc.</title>
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        <name>Hospitality Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3138WFYM26"/>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>General Electric Co.</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>Jackson National Life Global Funding</title>
        <cusip>46849LTM3</cusip>
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          <isin value="US46849LTM36"/>
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        <balance>600000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
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      <invstOrSec>
        <name>Hungary</name>
        <lei>5299008DH62LEB10JK83</lei>
        <title>Hungary Government Bond</title>
        <cusip>445545AL0</cusip>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>HU</invCountry>
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          <maturityDt>2024-03-25</maturityDt>
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        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc.</title>
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      <invstOrSec>
        <name>Nordic Investment Bank</name>
        <lei>213800HYL1S7VAXG6Z48</lei>
        <title>Nordic Investment Bank</title>
        <cusip>65562QBN4</cusip>
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          <isin value="US65562QBN43"/>
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        <balance>200000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
        <lei>N/A</lei>
        <title>Sales Tax Securitization Corp.</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EQUB6</cusip>
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        <debtSec>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36202FDB9</cusip>
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        <balance>2564.35070000</balance>
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        <curCd>USD</curCd>
        <valUSD>2846.58000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-20</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810RD28"/>
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        <balance>2180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3244654.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US646136XS57"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27233.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Textainer Marine Containers VII Ltd.</name>
        <lei>549300X48KLHDDGPK024</lei>
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        <cusip>88315LAC2</cusip>
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          <isin value="US88315LAC28"/>
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        <balance>680000.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>691202.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.96000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>Oncor Electric Delivery Co. LLC</title>
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          <isin value="US68233JBP84"/>
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        <balance>39000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47571.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36241KXQ6</cusip>
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          <isin value="US36241KXQ65"/>
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        <balance>6133.90600000</balance>
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        <curCd>USD</curCd>
        <valUSD>7029.67000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NBCUniversal Media LLC</name>
        <lei>VTBDOQJ6KOGQ6K786R46</lei>
        <title>NBCUniversal Media LLC</title>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2972.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
        <cusip>512807AU2</cusip>
        <identifiers>
          <isin value="US512807AU29"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35582.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PPL Capital Funding, Inc.</name>
        <lei>549300MROK5WY0D2NU17</lei>
        <title>PPL Capital Funding, Inc.</title>
        <cusip>69352PAQ6</cusip>
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          <isin value="US69352PAQ63"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227780.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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        <balance>353000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>384492.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.05000000</annualizedRt>
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      <invstOrSec>
        <name>Ashford Hospitality Trust</name>
        <lei>N/A</lei>
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        <cusip>04410CAA7</cusip>
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          <isin value="US04410CAA71"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>557908.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.18474900</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128284N7</cusip>
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          <isin value="US9128284N73"/>
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        <balance>1360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1605097.98000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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        <name>State of Oregon</name>
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        <title>State of Oregon</title>
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        <balance>115000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.89200000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828YW42"/>
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        <balance>37000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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      <invstOrSec>
        <name>International Finance Corp.</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>International Finance Corp.</title>
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        <balance>90000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
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        <balance>340000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>Fortis, Inc.</name>
        <lei>549300MQYQ9Y065XPR71</lei>
        <title>Fortis, Inc.</title>
        <cusip>349553AM9</cusip>
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        <balance>75000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-04</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United Parcel Service, Inc.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service, Inc.</title>
        <cusip>911312BY1</cusip>
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        <balance>251000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>314494.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49619994"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
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        <title>Broadcom, Inc.</title>
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          <maturityDt>2023-11-15</maturityDt>
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      <invstOrSec>
        <name>United States of America</name>
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          <isin value="US912828W481"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="49427236"/>
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      <invstOrSec>
        <name>Northeastern University</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-10-01</maturityDt>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
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          <isin value="US68269BAA61"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AvalonBay Communities, Inc.</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities, Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2023-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Argentine Republic</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Argentine Republic</title>
        <cusip>N/A</cusip>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
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        <name>Santander UK plc</name>
        <lei>PTCQB104N23FMNK2RZ28</lei>
        <title>Santander UK plc</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>212132.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>JPMDB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-13</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Micron Technology, Inc.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology, Inc.</title>
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          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.18500000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828YF1</cusip>
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        <balance>707000.00000000</balance>
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          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Municipal Electric Authority of Georgia</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>Municipal Electric Authority of Georgia</title>
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        <balance>24000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2057-04-01</maturityDt>
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          <annualizedRt>6.65500000</annualizedRt>
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        <name>PPL Capital Funding, Inc.</name>
        <lei>549300MROK5WY0D2NU17</lei>
        <title>PPL Capital Funding, Inc.</title>
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          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208117.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.85199900</annualizedRt>
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        <securityLending>
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        <name>Global Payments, Inc.</name>
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        <title>Global Payments, Inc.</title>
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      <invstOrSec>
        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Mills, Inc.</name>
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        <title>General Mills, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-10-17</maturityDt>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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          <maturityDt>2047-06-15</maturityDt>
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        <name>Cameron LNG LLC</name>
        <lei>549300C39FLHGVD73K22</lei>
        <title>Cameron LNG LLC</title>
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          <isin value="US133434AC43"/>
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        <balance>95000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>John Deere Capital Corp.</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp.</title>
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        <balance>25000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DTE Electric Co.</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co., Series A</title>
        <cusip>23338VAH9</cusip>
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        <balance>90000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-15</maturityDt>
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      <invstOrSec>
        <name>New York City Water &amp; Sewer System</name>
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        <title>New York City Municipal Water Finance Authority Water and System Revenue Bonds</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sound Point CLO XXI Ltd.</name>
        <lei>5493001O6AOY43J70E72</lei>
        <title>Sound Point CLO XXI Ltd., Series 2018-3A, Class A1A</title>
        <cusip>83613HAA5</cusip>
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        <balance>500000.00000000</balance>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <name>Commercial Mortgage Trust</name>
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          <maturityDt>2048-10-10</maturityDt>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>Anheuser-Busch InBev Worldwide, Inc.</title>
        <cusip>03523TBX5</cusip>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-23</maturityDt>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
        <cusip>125523AE0</cusip>
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        <balance>20000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2021-09-17</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J7X91</cusip>
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        <balance>6094.84000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Aviation Capital Group LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>Aviation Capital Group LLC</title>
        <cusip>05367AAH6</cusip>
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          <isin value="US05367AAH68"/>
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        <name>Johnson Controls International plc</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NXP BV</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61746BEF94"/>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-15</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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          <maturityDt>2022-03-31</maturityDt>
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        <name>UnitedHealth Group, Inc.</name>
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        <title>UnitedHealth Group, Inc.</title>
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        <name>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
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        <name>Virginia Electric &amp; Power Co.</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <balance>995662.54000000</balance>
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        <name>Commercial Mortgage Trust</name>
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        <name>SLM Private Education Loan Trust</name>
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        <name>Vistra Operations Co. LLC</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
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        <name>Juniper Networks, Inc.</name>
        <lei>AUHIXNGG7U2U7JEHM527</lei>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>949746SH5</cusip>
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        <balance>487000.00000000</balance>
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        <name>International Bank for Reconstruction &amp; Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Electric Power Co.</name>
        <lei>AENKIFMULUAWOUU8Q584</lei>
        <title>Wisconsin Electric Power Co.</title>
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        <balance>45000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-15</maturityDt>
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      <invstOrSec>
        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
        <cusip>337738AQ1</cusip>
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          <isin value="US337738AQ13"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27341.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBJ3</cusip>
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          <isin value="US05526DBJ37"/>
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        <balance>87000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93235.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.21500000</annualizedRt>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
        <cusip>92857WBJ8</cusip>
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        <balance>34000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38396.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-30</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Banco de Credito del Peru</name>
        <lei>549300EQYQ8SCQZ4BY14</lei>
        <title>Banco de Credito del Peru</title>
        <cusip>05971U2C0</cusip>
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          <isin value="US05971U2C00"/>
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        <balance>42000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41328.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.00000100</annualizedRt>
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      <invstOrSec>
        <name>Starwood Mortgage Residential Trust</name>
        <lei>N/A</lei>
        <title>Starwood Mortgage Residential Trust, Series 2020-1, Class M1</title>
        <cusip>85573AAD7</cusip>
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          <isin value="US85573AAD72"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2210013.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.87799800</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EQLE0</cusip>
        <identifiers>
          <isin value="US3138EQLE04"/>
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        <balance>146277.84620000</balance>
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        <curCd>USD</curCd>
        <valUSD>166904.09000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WFRBS Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>WFRBS Commercial Mortgage Trust, Series 2014-C23, Class B</title>
        <cusip>92939HBB0</cusip>
        <identifiers>
          <isin value="US92939HBB06"/>
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        <balance>368000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>388560.12000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.52558200</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A4</title>
        <cusip>61691GAS9</cusip>
        <identifiers>
          <isin value="US61691GAS93"/>
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        <balance>166000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185702.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.72000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128284S6</cusip>
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          <isin value="US9128284S60"/>
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        <balance>1010000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1085487.20000000</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>2023-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
        <cusip>548661DQ7</cusip>
        <identifiers>
          <isin value="US548661DQ70"/>
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        <balance>43000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50379.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>United States Small Business Administration</name>
        <lei>N/A</lei>
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        <cusip>83162CPH0</cusip>
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          <isin value="US83162CPH06"/>
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        <balance>9058.90700000</balance>
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        <curCd>USD</curCd>
        <valUSD>9392.62000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>GlaxoSmithKline Capital, Inc.</name>
        <lei>5493007Q8VD7Q3ZYZS59</lei>
        <title>GlaxoSmithKline Capital, Inc.</title>
        <cusip>377372AH0</cusip>
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          <isin value="US377372AH03"/>
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        <balance>36000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38058.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>Sudbury Mill CLO Ltd.</name>
        <lei>2549002BXC788OTPUW39</lei>
        <title>Sudbury Mill CLO Ltd., Series 2013-1A, Class A1R</title>
        <cusip>864662AM3</cusip>
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          <isin value="US864662AM36"/>
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        <balance>167548.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167024.99000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.28488000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418XEJ3</cusip>
        <identifiers>
          <isin value="US31418XEJ37"/>
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        <balance>935.11910000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31410LPN6</cusip>
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        <balance>46150.00880000</balance>
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        <curCd>USD</curCd>
        <valUSD>51988.82000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Note</title>
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          <other otherDesc="Inhouse Sedol" value="G494B56"/>
          <other otherDesc="Option Ticker" value="TYQ0P 135.50 Comdty"/>
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        <balance>-21.00000000</balance>
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        <valUSD>-656.25000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
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        <name>Keysight Technologies, Inc.</name>
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        <name>FNMA</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Global Payments, Inc.</name>
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        <name>TICP CLO II-2 Ltd.</name>
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        <name>Alibaba Group Holding Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASSURANT CLO III Ltd.</name>
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        <name>Atrium Hotel Portfolio Trust</name>
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        <name>Mylan NV</name>
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        <name>Stryker Corp.</name>
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        <name>United States of America</name>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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      </invstOrSec>
      <invstOrSec>
        <name>Ludgate Funding plc</name>
        <lei>213800LADM2GPWI3P269</lei>
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          <isin value="XS0304503534"/>
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        <balance>112110.16000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-01-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.73450000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee Valley Authority</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority</title>
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          <isin value="US880591EL27"/>
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        <balance>91000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93060.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US3140J5XZ79"/>
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        <balance>12330.79000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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          <isin value="US3138WFZF65"/>
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        <balance>24868.11170000</balance>
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        <curCd>USD</curCd>
        <valUSD>26237.33000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="XS1438319656"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>403915.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J6D46</cusip>
        <identifiers>
          <isin value="US3140J6D469"/>
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        <balance>195845.53920000</balance>
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        <curCd>USD</curCd>
        <valUSD>224349.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2015-CR26, Class ASB</title>
        <cusip>12593QBC3</cusip>
        <identifiers>
          <isin value="US12593QBC33"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2091567.20000000</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>2048-10-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37300000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J6DA2</cusip>
        <identifiers>
          <isin value="US3140J6DA22"/>
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        <balance>2547.68000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2689.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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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>BlackRock, Inc.</name>
        <lei>549300LRIF3NWCU26A80</lei>
        <title>BlackRock, Inc.</title>
        <cusip>09247XAL5</cusip>
        <identifiers>
          <isin value="US09247XAL55"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55246.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>31335AY28</cusip>
        <identifiers>
          <isin value="US31335AY284"/>
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        <balance>3170.43330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3458.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Discover Bank</name>
        <lei>X05BVSK68TQ7YTOSNR22</lei>
        <title>Discover Bank</title>
        <cusip>25466AAD3</cusip>
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          <isin value="US25466AAD37"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545443.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796WX3</cusip>
        <identifiers>
          <isin value="US912796WX33"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2999743.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-23</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2015-CR24, Class A5</title>
        <cusip>12593JBF2</cusip>
        <identifiers>
          <isin value="US12593JBF21"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22186.40000000</valUSD>
        <pctVal>0.002334108704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.69600000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36202FMA1</cusip>
        <identifiers>
          <isin value="US36202FMA11"/>
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        <balance>103664.92140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>113937.25000000</valUSD>
        <pctVal>0.011986709289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>B2R Mortgage Trust</name>
        <lei>549300JNS8TBD8XLZ117</lei>
        <title>B2R Mortgage Trust, Series 2015-2, Class A</title>
        <cusip>05605GAA0</cusip>
        <identifiers>
          <isin value="US05605GAA04"/>
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        <balance>10077.30180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10076.17000000</valUSD>
        <pctVal>0.001060058238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.33600000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Colgate-Palmolive Co.</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>Colgate-Palmolive Co.</title>
        <cusip>19416QEG1</cusip>
        <identifiers>
          <isin value="US19416QEG10"/>
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        <balance>62000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68117.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
        <cusip>268317AN4</cusip>
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          <isin value="US268317AN46"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501939.05000000</valUSD>
        <pctVal>0.052806237409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F032682</cusip>
        <identifiers>
          <isin value="US01F0326821"/>
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        <balance>10200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VMware, Inc.</name>
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        <title>VMware, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-21</maturityDt>
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        <name>United States of America</name>
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          <isin value="US912828YS30"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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      <invstOrSec>
        <name>Albemarle Corp.</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>Albemarle Corp.</title>
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          <isin value="US012725AC13"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-01</maturityDt>
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          <annualizedRt>4.15000000</annualizedRt>
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        <name>United States of America</name>
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          <isin value="US9128283W81"/>
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        <curCd>USD</curCd>
        <valUSD>1528135.57000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <curCd>USD</curCd>
        <valUSD>299125.19000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-22</maturityDt>
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        <name>DuPont de Nemours, Inc.</name>
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          <maturityDt>2025-11-15</maturityDt>
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          <annualizedRt>4.49300000</annualizedRt>
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        <name>United States of America</name>
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          <maturityDt>2022-11-15</maturityDt>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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          <maturityDt>2049-11-15</maturityDt>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
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        <name>Province of Alberta Canada</name>
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          <maturityDt>2023-11-01</maturityDt>
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          <annualizedRt>3.35000000</annualizedRt>
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        <name>CSMC Trust</name>
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        <name>Energy Transfer Operating LP</name>
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        <name>United States of America</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>N/A</name>
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        <name>Texas Transportation Commission</name>
        <lei>5493006JSGNPGVJS7691</lei>
        <title>Texas Transportation Commission</title>
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        <issuerCat>MUN</issuerCat>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179Q6N6</cusip>
        <identifiers>
          <isin value="US36179Q6N61"/>
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        <balance>433265.11070000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>463540.20000000</valUSD>
        <pctVal>0.048766506312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
        <title>Burlington Northern Santa Fe LLC</title>
        <cusip>12189LAT8</cusip>
        <identifiers>
          <isin value="US12189LAT89"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54946.99000000</valUSD>
        <pctVal>0.005780669583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>JobsOhio Beverage System</name>
        <lei>N/A</lei>
        <title>JobsOhio Beverage System</title>
        <cusip>47770VBQ2</cusip>
        <identifiers>
          <isin value="US47770VBQ23"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79777.50000000</valUSD>
        <pctVal>0.008392950508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.83300000</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>Rutgers The State University of New Jersey</name>
        <lei>549300BOYDHNW8J60112</lei>
        <title>Rutgers The State University of New Jersey</title>
        <cusip>783186NH8</cusip>
        <identifiers>
          <isin value="US783186NH86"/>
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        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147283.40000000</valUSD>
        <pctVal>0.015494873704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.66500000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128286C9</cusip>
        <identifiers>
          <isin value="US9128286C90"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518842.85000000</valUSD>
        <pctVal>0.054584592920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WCD34</cusip>
        <identifiers>
          <isin value="US3138WCD343"/>
        </identifiers>
        <balance>13974.35750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15235.79000000</valUSD>
        <pctVal>0.001602873384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3128MJWP1</cusip>
        <identifiers>
          <isin value="US3128MJWP17"/>
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        <balance>1674482.82000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1772470.04000000</valUSD>
        <pctVal>0.186471791213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2014-CR18, Class A4</title>
        <cusip>12632QAW3</cusip>
        <identifiers>
          <isin value="US12632QAW33"/>
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        <balance>9940.08000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10693.65000000</valUSD>
        <pctVal>0.001125019901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</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>United Parcel Service, Inc.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service, Inc.</title>
        <cusip>911312AY2</cusip>
        <identifiers>
          <isin value="US911312AY27"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54711.34000000</valUSD>
        <pctVal>0.005755878147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>31409CCZ6</cusip>
        <identifiers>
          <isin value="US31409CCZ68"/>
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        <balance>94806.66410000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99007.77000000</valUSD>
        <pctVal>0.010416061089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.65800000</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>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>298785HW9</cusip>
        <identifiers>
          <isin value="US298785HW97"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52235.78000000</valUSD>
        <pctVal>0.005495438141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128284V9</cusip>
        <identifiers>
          <isin value="US9128284V99"/>
        </identifiers>
        <balance>2540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3008310.72000000</valUSD>
        <pctVal>0.316487768947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>Markel Corp.</name>
        <lei>549300SCNO12JLWIK605</lei>
        <title>Markel Corp.</title>
        <cusip>570535AR5</cusip>
        <identifiers>
          <isin value="US570535AR54"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26704.94000000</valUSD>
        <pctVal>0.002809479361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
        <cusip>29273RAQ2</cusip>
        <identifiers>
          <isin value="US29273RAQ20"/>
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        <balance>54000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57010.06000000</valUSD>
        <pctVal>0.005997713792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</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>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>Wells Fargo Bank NA</title>
        <cusip>94988J5P8</cusip>
        <identifiers>
          <isin value="US94988J5P84"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250609.35000000</valUSD>
        <pctVal>0.026365226680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.32500000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 15 Year, Single Family</title>
        <cusip>01F040479</cusip>
        <identifiers>
          <isin value="US01F0404792"/>
        </identifiers>
        <balance>-394000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-416654.57000000</valUSD>
        <pctVal>-0.04383392792</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>VEREIT Operating Partnership LP</name>
        <lei>5493005TQOUJE1LCS698</lei>
        <title>VEREIT Operating Partnership LP</title>
        <cusip>03879QAF1</cusip>
        <identifiers>
          <isin value="US03879QAF19"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10707.28000000</valUSD>
        <pctVal>0.001126453838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</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>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YBQ1</cusip>
        <identifiers>
          <isin value="US00287YBQ17"/>
        </identifiers>
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        <name>American Tower Corp.</name>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2019-C16, Class A3</title>
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        <identifiers>
          <isin value="US12596WAC82"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.32900000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2007-T27, Class AJ</title>
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        <identifiers>
          <isin value="US61754JAH14"/>
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        <balance>17476.83040000</balance>
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        <curCd>USD</curCd>
        <valUSD>17560.89000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>MF1 Multifamily Housing Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>MF1 Multifamily Housing Mortgage Loan Trust, Series 2020-FL3, Class A</title>
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          <isin value="US59319WAA99"/>
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        <balance>286000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Floating</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shellpoint Co-Originator Trust</name>
        <lei>N/A</lei>
        <title>Shellpoint Co-Originator Trust, Series 2017-1, Class A4</title>
        <cusip>82280RAD1</cusip>
        <identifiers>
          <isin value="US82280RAD17"/>
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        <balance>1453904.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-25</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Long Gilt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00HF8SC317"/>
          <other otherDesc="Future Ticker" value="G U0 Comdty"/>
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        <balance>-8.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.80703736"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>ICE Clear Europe</counterpartyName>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>90352JAF0</cusip>
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          <isin value="US90352JAF03"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G0W33</cusip>
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          <isin value="US3135G0W330"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAH4</cusip>
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          <isin value="US05401AAH41"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140H7Q91</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Alaska Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US01166VAA70"/>
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      <invstOrSec>
        <name>Magellan Midstream Partners LP</name>
        <lei>MZF5TI8NFVZZNUSKDL39</lei>
        <title>Magellan Midstream Partners LP</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PRPM LLC</name>
        <lei>N/A</lei>
        <title>PRPM LLC, Series 2019-3A, Class A1</title>
        <cusip>69359MAA1</cusip>
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          <isin value="US69359MAA18"/>
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        <balance>3105682.43000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3103240.43000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <debtSec>
          <maturityDt>2024-07-25</maturityDt>
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          <annualizedRt>3.35099900</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Venture XII CLO Ltd.</name>
        <lei>549300C7PSULF5Z6ZE61</lei>
        <title>Venture XII CLO Ltd., Series 2012-12A, Class ARR</title>
        <cusip>92329JAY5</cusip>
        <identifiers>
          <isin value="US92329JAY55"/>
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        <balance>365664.92000000</balance>
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        <curCd>USD</curCd>
        <valUSD>360832.66000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-28</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>University of California</name>
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        <name>Comcast Corp.</name>
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        <name>BANK</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>FHLMC</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>Reynolds American, Inc.</name>
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        <title>Reynolds American, Inc.</title>
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        <name>FHLMC</name>
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        <name>FHLMC</name>
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        <name>Michigan State Housing Development Authority</name>
        <lei>549300NSWW1HVXE93T03</lei>
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        <name>BAMLL Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>N/A</name>
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        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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        <name>TD Ameritrade Holding Corp.</name>
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        <name>Sunoco Logistics Partners Operations LP</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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        <name>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <name>Velocity Commercial Capital Loan Trust</name>
        <lei>N/A</lei>
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        <name>Bear Stearns Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>Anthem, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>FHLMC</name>
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        <name>Republic of Indonesia</name>
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        <name>Public Storage</name>
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        <name>Morgan Stanley</name>
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        <name>International Bank for Reconstruction &amp; Development</name>
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        <name>McKesson Corp.</name>
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        <name>FNMA</name>
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        <name>International Paper Co.</name>
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        <name>FHLMC</name>
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        <name>DR Horton, Inc.</name>
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        <name>International Paper Co.</name>
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        <title>International Paper Co.</title>
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        <name>FNMA</name>
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        <name>Hanover Insurance Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Elm Park CLO DAC</name>
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          <isin value="XS1803210803"/>
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        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <curCd>USD</curCd>
        <valUSD>88250.86000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Duke Energy Ohio, Inc.</name>
        <lei>L6KC0HABGHNFU1Z6QY21</lei>
        <title>Duke Energy Ohio, Inc.</title>
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        <name>FHLB</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828XB1</cusip>
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          <isin value="US912828XB14"/>
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        <balance>1953000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
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          <isin value="US620076BN89"/>
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        <curCd>USD</curCd>
        <valUSD>395925.77000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <maturityDt>2022-11-30</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>Aircastle Ltd.</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Norfolk Southern Corp.</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>Norfolk Southern Corp.</title>
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          <couponKind>Fixed</couponKind>
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        <name>Commonwealth of Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>The Commonwealth of Massachusetts Massachusetts General Obligation Bonds Consolidated Loan of 2017, Series F</title>
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        <name>State of California Department of Water Resources Power Supply Revenue</name>
        <lei>549300X618YEC5LGBQ98</lei>
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        <cusip>13066YTZ2</cusip>
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        <invCountry>US</invCountry>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
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        <balance>39276.25920000</balance>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <balance>12508.65570000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern California Gas Co.</name>
        <lei>XY0N0J73VHV5F4CUJV89</lei>
        <title>Southern California Gas Co., Series XX</title>
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        <name>United States of America</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>Anthem, Inc.</name>
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        <title>Anthem, Inc.</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>AOA Mortgage Trust</name>
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        <name>Southern Co. (The)</name>
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        <name>Province of British Columbia Canada</name>
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        <name>United States of America</name>
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        <name>International Business Machines Corp.</name>
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        <name>Sempra Energy</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>Doric Nimrod Air Finance Alpha Ltd. Pass-Through Trust</name>
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        <name>FHLMC</name>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.54388100</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>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XAM7</cusip>
        <identifiers>
          <isin value="US68389XAM74"/>
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        <balance>21000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28934.05000000</valUSD>
        <pctVal>0.003043991722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</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>AEP Transmission Co. LLC</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP Transmission Co. LLC</title>
        <cusip>00115AAL3</cusip>
        <identifiers>
          <isin value="US00115AAL35"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42203.38000000</valUSD>
        <pctVal>0.004439984702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RM2</cusip>
        <identifiers>
          <isin value="US912810RM27"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402725.85000000</valUSD>
        <pctVal>0.042368564163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
        <cusip>482480AJ9</cusip>
        <identifiers>
          <isin value="US482480AJ99"/>
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        <balance>127000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130437.08000000</valUSD>
        <pctVal>0.013722565346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138YJF68</cusip>
        <identifiers>
          <isin value="US3138YJF687"/>
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        <balance>4065.09620000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4373.20000000</valUSD>
        <pctVal>0.000460080237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
        <cusip>87165BAD5</cusip>
        <identifiers>
          <isin value="US87165BAD55"/>
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        <balance>110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115820.91000000</valUSD>
        <pctVal>0.012184878762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>3622A2AE2</cusip>
        <identifiers>
          <isin value="US3622A2AE21"/>
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        <balance>191616.68600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214493.00000000</valUSD>
        <pctVal>0.022565624811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CSAIL Commercial Mortgage Trust, Series 2019-C17, Class D</title>
        <cusip>12597BAC3</cusip>
        <identifiers>
          <isin value="US12597BAC37"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21888.70000000</valUSD>
        <pctVal>0.002302789330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650CV0</cusip>
        <identifiers>
          <isin value="US126650CV07"/>
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        <balance>805000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>863089.12000000</valUSD>
        <pctVal>0.090800843202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
        <cusip>548661DR5</cusip>
        <identifiers>
          <isin value="US548661DR53"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>227857.04000000</valUSD>
        <pctVal>0.023971581708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</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>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2015-H19, Class FK</title>
        <cusip>38376RGB6</cusip>
        <identifiers>
          <isin value="US38376RGB69"/>
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        <balance>624938.53000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>625501.72000000</valUSD>
        <pctVal>0.065805584017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-08-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.90338000</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>Towd Point Mortgage Funding</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Funding, Series 2019-A13A, Class A1</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2053911264"/>
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        <balance>942210.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.80703736"/>
        <valUSD>1159357.33000000</valUSD>
        <pctVal>0.121969586567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.39209600</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>Wells Fargo Commercial Mortgage Trust</name>
        <lei>5493006021R83VCLAO08</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2018-C45, Class C</title>
        <cusip>95001NBD9</cusip>
        <identifiers>
          <isin value="US95001NBD93"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9433.83000000</valUSD>
        <pctVal>0.000992481192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.72700000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828Z52</cusip>
        <identifiers>
          <isin value="US912828Z526"/>
        </identifiers>
        <balance>352000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>369721.16000000</valUSD>
        <pctVal>0.038896322870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828YK0</cusip>
        <identifiers>
          <isin value="US912828YK04"/>
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        <balance>56000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57539.96000000</valUSD>
        <pctVal>0.006053461646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F060675</cusip>
        <identifiers>
          <isin value="US01F0606750"/>
        </identifiers>
        <balance>-38000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-42334.33000000</valUSD>
        <pctVal>-0.00445376122</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>Virginia Electric &amp; Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric &amp; Power Co., Series C</title>
        <cusip>927804FW9</cusip>
        <identifiers>
          <isin value="US927804FW90"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6008.77000000</valUSD>
        <pctVal>0.000632149531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>CLI Funding VI LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>FHLMC</name>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Titulos de Tesoreria</title>
        <cusip>N/A</cusip>
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        <name>FHLMC</name>
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        <title>FHLMC</title>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Cheniere Corpus Christi Holdings LLC</name>
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          <couponKind>Fixed</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>American Campus Communities Operating Partnership LP</name>
        <lei>RDKVCX5HITZ2GPIR7153</lei>
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        <name>3M Co.</name>
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        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bills</title>
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        <name>Microchip Technology, Inc.</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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      <invstOrSec>
        <name>ERP Operating LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-15</maturityDt>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
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      <invstOrSec>
        <name>Becton Dickinson and Co.</name>
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      <invstOrSec>
        <name>Angel Oak Mortgage Trust I LLC</name>
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        <name>Northwoods Capital XI-B Ltd.</name>
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      <invstOrSec>
        <name>NSTAR Electric Co.</name>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
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        <name>Svensk Exportkredit AB</name>
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        <invCountry>SE</invCountry>
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        <name>Cameron LNG LLC</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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        <invCountry>CA</invCountry>
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        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International, Inc.</title>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828WY2</cusip>
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          <isin value="US912828WY26"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1022276.40000000</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>2021-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NBR1</cusip>
        <identifiers>
          <isin value="US20030NBR17"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105419.77000000</valUSD>
        <pctVal>0.011090632223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828TJ9</cusip>
        <identifiers>
          <isin value="US912828TJ95"/>
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        <balance>378000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>389703.98000000</valUSD>
        <pctVal>0.040998605084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Synchrony Financial</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>Synchrony Financial</title>
        <cusip>87165BAL7</cusip>
        <identifiers>
          <isin value="US87165BAL71"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51323.20000000</valUSD>
        <pctVal>0.005399430635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PAL0</cusip>
        <identifiers>
          <isin value="US46647PAL04"/>
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        <balance>222000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269040.38000000</valUSD>
        <pctVal>0.028304253632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.96400000</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>Southwest Airlines Co.</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>Southwest Airlines Co.</title>
        <cusip>844741BJ6</cusip>
        <identifiers>
          <isin value="US844741BJ60"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31584.00000000</valUSD>
        <pctVal>0.003322778338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2014-CPT, Class B</title>
        <cusip>61763QAG6</cusip>
        <identifiers>
          <isin value="US61763QAG64"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504888.70000000</valUSD>
        <pctVal>0.053116553807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.56035000</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>Emerald Bay SA</name>
        <lei>2221008SU8XG8LZVS860</lei>
        <title>Emerald Bay SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1685617760"/>
        </identifiers>
        <balance>582000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89007565"/>
        <valUSD>634260.69000000</valUSD>
        <pctVal>0.066727066913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-08</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
        <cusip>210518CV6</cusip>
        <identifiers>
          <isin value="US210518CV68"/>
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        <balance>87000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93904.51000000</valUSD>
        <pctVal>0.009879175268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>New York City Transitional Finance Authority Future Tax Secured Revenue</name>
        <lei>N/A</lei>
        <title>New York City Transitional Finance Authority Future Tax Secured</title>
        <cusip>64971Q7K3</cusip>
        <identifiers>
          <isin value="US64971Q7K35"/>
        </identifiers>
        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59620.00000000</valUSD>
        <pctVal>0.006272291176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828V23</cusip>
        <identifiers>
          <isin value="US912828V236"/>
        </identifiers>
        <balance>1420000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1521323.96000000</valUSD>
        <pctVal>0.160050098131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>Kimberly-Clark Corp.</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>Kimberly-Clark Corp.</title>
        <cusip>494368BY8</cusip>
        <identifiers>
          <isin value="US494368BY83"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11927.91000000</valUSD>
        <pctVal>0.001254869584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818DN5</cusip>
        <identifiers>
          <isin value="US907818DN57"/>
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        <balance>62000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65307.27000000</valUSD>
        <pctVal>0.006870617466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
        <cusip>3135G04Q3</cusip>
        <identifiers>
          <isin value="US3135G04Q36"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499263.10000000</valUSD>
        <pctVal>0.052524715477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 15 Year, Single Family</title>
        <cusip>01F022477</cusip>
        <identifiers>
          <isin value="US01F0224778"/>
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        <balance>280600.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293818.90000000</valUSD>
        <pctVal>0.030911064976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>NVIDIA Corp.</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp.</title>
        <cusip>67066GAF1</cusip>
        <identifiers>
          <isin value="US67066GAF19"/>
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        <balance>140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155397.00000000</valUSD>
        <pctVal>0.016348460783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132WJUH2</cusip>
        <identifiers>
          <isin value="US3132WJUH29"/>
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        <balance>10157.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11079.25000000</valUSD>
        <pctVal>0.001165586749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GS Mortgage Securities Corp. Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Corp. Trust, Series 2018-TWR, Class D</title>
        <cusip>36251SAN8</cusip>
        <identifiers>
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      <invstOrSec>
        <name>Pennsylvania Turnpike Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Charter Communications Operating LLC</name>
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          <maturityDt>2025-07-23</maturityDt>
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        <name>FHLMC Pool</name>
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        <name>Florida Power &amp; Light Co.</name>
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        <name>FNMA</name>
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        <name>Lendmark Funding Trust</name>
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        <name>FNMA</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>BAT Capital Corp.</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <maturityDt>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>NXP BV</name>
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        <balance>38000.00000000</balance>
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        <name>Inter-American Development Bank</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>Inter-American Development Bank</title>
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        <balance>100000.00000000</balance>
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        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
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        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co., Series D</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Impac CMB Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GE Capital Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
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      <invstOrSec>
        <name>DBGS Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US23306GAA58"/>
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        <name>Council of Europe Development Bank</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Marathon CLO V Ltd.</name>
        <lei>635400LRBGQZIPTCBI09</lei>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K722, Class X1</title>
        <cusip>3137BQC21</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>3132XCSJ5</cusip>
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        <balance>105653.36880000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2019-1, Class AA</title>
        <cusip>02377LAA2</cusip>
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          <isin value="US02377LAA26"/>
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        <balance>73845.25000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67982.26000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>PayPal Holdings, Inc.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings, Inc.</title>
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          <isin value="US70450YAD58"/>
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        <balance>617000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>669251.51000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
        <cusip>760759AR1</cusip>
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        <curCd>USD</curCd>
        <valUSD>28428.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <name>Georgia-Pacific LLC</name>
        <lei>L2EVHWFHVAQK72TMH265</lei>
        <title>Georgia-Pacific LLC</title>
        <cusip>37331NAD3</cusip>
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        <balance>189000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204082.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.73400000</annualizedRt>
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      <invstOrSec>
        <name>Loews Corp.</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>Loews Corp.</title>
        <cusip>540424AS7</cusip>
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          <isin value="US540424AS76"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55668.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138WJC97</cusip>
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          <isin value="US3138WJC977"/>
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        <balance>17720.08000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18762.18000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>SMB Private Education Loan Trust</name>
        <lei>N/A</lei>
        <title>SMB Private Education Loan Trust, Series 2020-PTA, Class A2A</title>
        <cusip>78449VAB2</cusip>
        <identifiers>
          <isin value="US78449VAB27"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256393.38000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.60000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C20, Class B</title>
        <cusip>61764RBJ6</cusip>
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          <isin value="US61764RBJ68"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152541.24000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.16000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828F96</cusip>
        <identifiers>
          <isin value="US912828F965"/>
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        <balance>1950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1997364.33000000</valUSD>
        <pctVal>0.210131678344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust, Series 2014-GC20, Class B</title>
        <cusip>36252WBC1</cusip>
        <identifiers>
          <isin value="US36252WBC10"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30737.04000000</valUSD>
        <pctVal>0.003233674350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.52900200</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418CCL6</cusip>
        <identifiers>
          <isin value="US31418CCL63"/>
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        <balance>9516.75000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9890.46000000</valUSD>
        <pctVal>0.001040520714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Legacy Mortgage Asset Trust</name>
        <lei>N/A</lei>
        <title>Legacy Mortgage Asset Trust, Series 2020-GS4, Class A1</title>
        <cusip>52474KAA1</cusip>
        <identifiers>
          <isin value="US52474KAA16"/>
        </identifiers>
        <balance>1092783.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1096660.09000000</valUSD>
        <pctVal>0.115373555952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.25000100</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>31307MSF4</cusip>
        <identifiers>
          <isin value="US31307MSF40"/>
        </identifiers>
        <balance>22382.97670000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23599.85000000</valUSD>
        <pctVal>0.002482809978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>JP Morgan Chase Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JP Morgan Chase Commercial Mortgage Securities Trust, Series 2014-C20, Class A5</title>
        <cusip>46642CBJ8</cusip>
        <identifiers>
          <isin value="US46642CBJ80"/>
        </identifiers>
        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32444.36000000</valUSD>
        <pctVal>0.003413292065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80460000</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>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441CAJ4</cusip>
        <identifiers>
          <isin value="US26441CAJ45"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>419280.84000000</valUSD>
        <pctVal>0.044110223299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.05000000</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>Boston Properties LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>Boston Properties LP</title>
        <cusip>10112RAZ7</cusip>
        <identifiers>
          <isin value="US10112RAZ73"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107167.48000000</valUSD>
        <pctVal>0.011274499147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138AFFB1</cusip>
        <identifiers>
          <isin value="US3138AFFB10"/>
        </identifiers>
        <balance>1940.13560000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2164.91000000</valUSD>
        <pctVal>0.000227758233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F040677</cusip>
        <identifiers>
          <isin value="US01F0406771"/>
        </identifiers>
        <balance>4412000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4675685.83000000</valUSD>
        <pctVal>0.491903102560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>BX Trust</name>
        <lei>N/A</lei>
        <title>BX Trust, Series 2017-APPL, Class E</title>
        <cusip>12433PAN6</cusip>
        <identifiers>
          <isin value="US12433PAN69"/>
        </identifiers>
        <balance>80626.79000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74990.93000000</valUSD>
        <pctVal>0.007889381894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.33474800</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J7MK8</cusip>
        <identifiers>
          <isin value="US3140J7MK85"/>
        </identifiers>
        <balance>79301.47130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82415.57000000</valUSD>
        <pctVal>0.008670487294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>Shell International Finance BV</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
        <cusip>822582BT8</cusip>
        <identifiers>
          <isin value="US822582BT82"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54875.08000000</valUSD>
        <pctVal>0.005773104328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
        <cusip>45685NAA4</cusip>
        <identifiers>
          <isin value="US45685NAA46"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291906.73000000</valUSD>
        <pctVal>0.030709896123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC</title>
        <cusip>31335BFU5</cusip>
        <identifiers>
          <isin value="US31335BFU52"/>
        </identifiers>
        <balance>63982.72790000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70122.63000000</valUSD>
        <pctVal>0.007377214917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
        <cusip>92857WBH2</cusip>
        <identifiers>
          <isin value="US92857WBH25"/>
        </identifiers>
        <balance>571000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>624046.19000000</valUSD>
        <pctVal>0.065652455738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828M49</cusip>
        <identifiers>
          <isin value="US912828M490"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519843.00000000</valUSD>
        <pctVal>0.054689813182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828S92</cusip>
        <identifiers>
          <isin value="US912828S927"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>878022.97000000</valUSD>
        <pctVal>0.092371951145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-31</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Oncor Electric Delivery Co. LLC</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>Oncor Electric Delivery Co. LLC</title>
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          <isin value="US68233JBR41"/>
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        <curCd>USD</curCd>
        <valUSD>67779.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK</name>
        <lei>N/A</lei>
        <title>BANK, Series 2019-BN20, Class AS</title>
        <cusip>06540AAG6</cusip>
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          <isin value="US06540AAG67"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>336766.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.24299900</annualizedRt>
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      <invstOrSec>
        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc., Series X</title>
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          <isin value="US571903AY99"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>ViacomCBS, Inc.</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>ViacomCBS, Inc.</title>
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        <balance>52000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69450.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SA7</cusip>
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          <isin value="US912810SA79"/>
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        <balance>2131000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2917123.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Israel</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>State of Israel Government Bond</title>
        <cusip>46513CXR2</cusip>
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          <isin value="US46513CXR23"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>218562.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>71654QBV3</cusip>
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          <isin value="US71654QBV32"/>
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        <balance>22000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19987.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRESB Mortgage Trust</name>
        <lei>549300P6Y1UBYR0WQ049</lei>
        <title>FRESB Mortgage Trust, Series 2018-SB53, Class A10F</title>
        <cusip>30297DAJ9</cusip>
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          <isin value="US30297DAJ90"/>
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        <balance>22555.50000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24843.38000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.66000100</annualizedRt>
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      <invstOrSec>
        <name>Ryder System, Inc.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>Ryder System, Inc.</title>
        <cusip>78355HKF5</cusip>
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          <isin value="US78355HKF54"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20485.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2019-K103, Class B</title>
        <cusip>30315DAS7</cusip>
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          <isin value="US30315DAS71"/>
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        <balance>14000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14915.29000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.57185200</annualizedRt>
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      <invstOrSec>
        <name>L3Harris Technologies, Inc.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3Harris Technologies, Inc.</title>
        <cusip>502431AL3</cusip>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>218156.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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      <invstOrSec>
        <name>Credit Suisse AG</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>Credit Suisse AG</title>
        <cusip>22550L2C4</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>271441.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>Air Canada Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>Air Canada Pass-Through Trust, Series 2017-1, Class AA</title>
        <cusip>00908PAA5</cusip>
        <identifiers>
          <isin value="US00908PAA57"/>
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        <balance>18464.00000000</balance>
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        <valUSD>16279.98000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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      <invstOrSec>
        <name>Caterpillar Financial Services Corp.</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>Caterpillar Financial Services Corp.</title>
        <cusip>14913Q2S7</cusip>
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        <balance>50000.00000000</balance>
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        <valUSD>54993.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBP9</cusip>
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          <isin value="US68389XBP96"/>
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        <balance>6000.00000000</balance>
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        <valUSD>6932.48000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Life Storage LP</name>
        <lei>X0MIGH67XZCB7HL1A534</lei>
        <title>Life Storage LP</title>
        <cusip>53227JAA2</cusip>
        <identifiers>
          <isin value="US53227JAA25"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27249.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTR Alternative Loan Trust</name>
        <lei>N/A</lei>
        <title>MASTR Alternative Loan Trust, Series 2005-2, Class 5A1</title>
        <cusip>576434J96</cusip>
        <identifiers>
          <isin value="US576434J961"/>
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        <balance>68057.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71930.56000000</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>2034-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Boeing Co. (The)</name>
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        <name>SoFi Professional Loan Program LLC</name>
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        <name>Massachusetts School Building Authority</name>
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        <name>Northrop Grumman Corp.</name>
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        <name>GNMA</name>
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        <name>Walt Disney Co. (The)</name>
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        <name>JPMCC Commercial Mortgage Securities Trust</name>
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        <name>United States of America</name>
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        <name>Fiserv, Inc.</name>
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        <name>CVS Health Corp.</name>
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        <name>L3Harris Technologies, Inc.</name>
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        <name>FNMA</name>
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        <name>Republic of Panama</name>
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        <name>United States of America</name>
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        <name>RELX Capital, Inc.</name>
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        <name>Air Lease Corp.</name>
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        <name>FNMA</name>
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          <maturityDt>2046-12-01</maturityDt>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Discovery Communications LLC</name>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <name>Ally Financial, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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        <name>Phillips 66 Partners LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PayPal Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-01</maturityDt>
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        <name>Primose Funding LLC</name>
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          <maturityDt>2049-07-30</maturityDt>
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        <name>Expedia Group, Inc.</name>
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        <name>Santander UK Group Holdings plc</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <invCountry>US</invCountry>
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        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <name>DTE Electric Co.</name>
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        <title>DTE Electric Co.</title>
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        <name>BANK</name>
        <lei>549300GL0Y86051URC66</lei>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2061-02-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
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        <balance>15000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
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        <name>General Electric Co.</name>
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        <name>United States of America</name>
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        <name>BAT International Finance plc</name>
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        <name>FNMA</name>
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        <name>FedEx Corp.</name>
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        <name>United States of America</name>
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        <name>Atrium Hotel Portfolio Trust</name>
        <lei>N/A</lei>
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        <name>Duke Energy Progress LLC</name>
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        <name>Microsoft Corp.</name>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
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        <name>GNMA</name>
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        <name>United States of America</name>
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        <title>U.S. Treasury Notes</title>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
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        <name>Takeda Pharmaceutical Co. Ltd.</name>
        <lei>549300ZLMVP4X0OGR454</lei>
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        <invCountry>JP</invCountry>
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        <name>International Business Machines Corp.</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>International Business Machines Corp.</title>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>549300RCJSGOC0A85G53</lei>
        <title>New Residential Mortgage Loan Trust, Series 2015-1A, Class A1</title>
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      <invstOrSec>
        <name>GNMA</name>
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          <isin value="US38376REA05"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-07-20</maturityDt>
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      <invstOrSec>
        <name>European Investment Bank</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
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        <curCd>USD</curCd>
        <valUSD>92126.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.62500000</annualizedRt>
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      <invstOrSec>
        <name>Inter-American Development Bank</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>Inter-American Development Bank</title>
        <cusip>4581X0DK1</cusip>
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          <isin value="US4581X0DK13"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316957.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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        <name>United Mexican States</name>
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        <title>United Mexican States</title>
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        <curCd>USD</curCd>
        <valUSD>424908.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <name>Rio Oil Finance Trust</name>
        <lei>549300V5D1W52HY8NO65</lei>
        <title>Rio Oil Finance Trust, Series 2014-1</title>
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        <curCd>USD</curCd>
        <valUSD>211547.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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        <name>Monarch Grove CLO Ltd.</name>
        <lei>N/A</lei>
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        <cusip>60909GAA8</cusip>
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          <isin value="US60909GAA85"/>
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        <curCd>USD</curCd>
        <valUSD>351795.42000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.87138100</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Keurig Dr Pepper, Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper, Inc.</title>
        <cusip>49271VAG5</cusip>
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          <isin value="US49271VAG59"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297934.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05700000</annualizedRt>
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        <name>Owens Corning</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>Owens Corning</title>
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          <isin value="US690742AK72"/>
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        <balance>61000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64460.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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        <name>Republic of Peru</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>Republic of Peru</title>
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        <balance>258000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296216.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Public Service Electric &amp; Gas Co.</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric &amp; Gas Co.</title>
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          <isin value="US74456QBY17"/>
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        <balance>107000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121652.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828F21</cusip>
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          <isin value="US912828F213"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307279.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12500000</annualizedRt>
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        <name>KeyBank NA</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
        <title>KeyBank NA</title>
        <cusip>49327M2X1</cusip>
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          <isin value="US49327M2X13"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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        <name>UBS AG</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
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        <curCd>USD</curCd>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US9128282D10"/>
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        <issuerCat>UST</issuerCat>
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          <maturityDt>2023-08-31</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <invCountry>US</invCountry>
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          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>Hasbro, Inc.</name>
        <lei>549300NUB6D2R1ITYR45</lei>
        <title>Hasbro, Inc.</title>
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          <isin value="US418056AV91"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15433.56000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>486750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QUALCOMM, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RFMSI Trust</name>
        <lei>N/A</lei>
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          <isin value="US749574AE93"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>NGPL PipeCo LLC</name>
        <lei>549300K3NT1HSQFEM073</lei>
        <title>NGPL PipeCo LLC</title>
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          <isin value="US62912XAE40"/>
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        <balance>107000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Fuel Gas Co.</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co.</title>
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          <isin value="US636180BN05"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47781.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OneMain Financial Issuance Trust</name>
        <lei>549300KQ3WN93FBBU117</lei>
        <title>OneMain Financial Issuance Trust, Series 2017-1A, Class A1</title>
        <cusip>68267LAA6</cusip>
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          <isin value="US68267LAA61"/>
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        <balance>460963.42000000</balance>
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        <curCd>USD</curCd>
        <valUSD>462585.87000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tyson Foods, Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>Tyson Foods, Inc.</title>
        <cusip>902494AT0</cusip>
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          <isin value="US902494AT07"/>
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        <balance>91000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>95957.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Merck &amp; Co., Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
        <cusip>58933YBB0</cusip>
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          <isin value="US58933YBB02"/>
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        <balance>47000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47198.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kingdom of Saudi Arabia</name>
        <lei>635400FMICXSM3SI3H65</lei>
        <title>Kingdom of Saudi Arabia</title>
        <cusip>80413TAS8</cusip>
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          <isin value="US80413TAS87"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XAP0</cusip>
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          <isin value="US68389XAP06"/>
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        <balance>73000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76162.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>86787EAT4</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103508.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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        <name>PayPal Holdings, Inc.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings, Inc.</title>
        <cusip>70450YAC7</cusip>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28629.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828YY0</cusip>
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        <balance>1159000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Commercial Mortgage Trust, Series 2013-GAM, Class E</title>
        <cusip>12624UAQ7</cusip>
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          <isin value="US12624UAQ76"/>
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        <balance>100000.00000000</balance>
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        <valUSD>91753.92000000</valUSD>
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          <maturityDt>2028-02-10</maturityDt>
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          <annualizedRt>3.53121100</annualizedRt>
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        <name>AEP Transmission Co. LLC</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP Transmission Co. LLC</title>
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        <balance>80000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2049-06-15</maturityDt>
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          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36202E4F3</cusip>
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        <balance>2663.31670000</balance>
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          <maturityDt>2039-04-20</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>NXP BV</name>
        <lei>N/A</lei>
        <title>NXP BV</title>
        <cusip>62954HAB4</cusip>
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        <balance>45000.00000000</balance>
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        <valUSD>51072.07000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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          <maturityDt>2029-06-18</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Municipal Electric Authority of Georgia</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>Georgia Municipal Electric Authority, Revenue Bonds, Series 2010A</title>
        <cusip>626207YF5</cusip>
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        <balance>34000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49445.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>Transcontinental Gas Pipe Line Co. LLC</name>
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        <name>AbbVie, Inc.</name>
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        <name>Micron Technology, Inc.</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-21</maturityDt>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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          <isin value="US12592XBJ46"/>
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        <name>CD Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
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        <name>AvalonBay Communities, Inc.</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities, Inc.</title>
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          <couponKind>Fixed</couponKind>
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        <name>GNMA</name>
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        <title>GNMA, Series 2016-H15, Class FA</title>
        <cusip>38376RWY8</cusip>
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        <issuerCat>USGA</issuerCat>
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        <name>SLM Student Loan Trust</name>
        <lei>549300H0EHPP0GTD9V95</lei>
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        <cusip>78442GQJ8</cusip>
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        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
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      <invstOrSec>
        <name>Dutchess County Local Development Corp.</name>
        <lei>N/A</lei>
        <title>Dutchess County Local Development Corporation Health Quest Systems, Inc. Project Revenue Bonds, Series 2016B</title>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-NXS2, Class XA</title>
        <cusip>94989MAH2</cusip>
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      <invstOrSec>
        <name>Unilever Capital Corp.</name>
        <lei>MYF1DAS6G5WY7PRWCU78</lei>
        <title>Unilever Capital Corp.</title>
        <cusip>904764BF3</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
        <cusip>539439AV1</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>205795.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.43799900</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ply Gem Midco, Inc.</name>
        <lei>N/A</lei>
        <title>Ply Gem, Inc., Term Loan B</title>
        <cusip>72431HAB6</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="LX1723780"/>
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        <balance>982500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>931737.17000000</valUSD>
        <pctVal>0.098022925696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.94050000</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>DXC Technology Co.</name>
        <lei>549300DOVZ3EDJB7O259</lei>
        <title>DXC Technology Co.</title>
        <cusip>23355LAK2</cusip>
        <identifiers>
          <isin value="US23355LAK26"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21233.89000000</valUSD>
        <pctVal>0.002233900383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 15 Year, Single Family</title>
        <cusip>01F042475</cusip>
        <identifiers>
          <isin value="US01F0424758"/>
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        <balance>279000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>292851.62000000</valUSD>
        <pctVal>0.030809302785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>CAMB Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class D</title>
        <cusip>12482HAL8</cusip>
        <identifiers>
          <isin value="US12482HAL87"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96501.99000000</valUSD>
        <pctVal>0.010152441804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.93475200</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>Structured Asset Mortgage Investments II Trust</name>
        <lei>N/A</lei>
        <title>Structured Asset Mortgage Investments II Trust, Series 2005-AR5, Class A1</title>
        <cusip>86359LPD5</cusip>
        <identifiers>
          <isin value="US86359LPD54"/>
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        <balance>39280.76000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35814.88000000</valUSD>
        <pctVal>0.003767885873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.44388000</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>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia General Obligation Bonds, Series 2016A</title>
        <cusip>25476FSD1</cusip>
        <identifiers>
          <isin value="US25476FSD14"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35829.60000000</valUSD>
        <pctVal>0.003769434483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
        <cusip>316773CX6</cusip>
        <identifiers>
          <isin value="US316773CX61"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32565.56000000</valUSD>
        <pctVal>0.003426042848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128285Z9</cusip>
        <identifiers>
          <isin value="US9128285Z94"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1298340.48000000</valUSD>
        <pctVal>0.136591236775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135BF2</cusip>
        <identifiers>
          <isin value="US023135BF28"/>
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        <balance>102000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>126447.55000000</valUSD>
        <pctVal>0.013302848911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBX2</cusip>
        <identifiers>
          <isin value="US68389XBX21"/>
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        <balance>322000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358186.17000000</valUSD>
        <pctVal>0.037682790230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</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>245 Park Avenue Trust</name>
        <lei>N/A</lei>
        <title>245 Park Avenue Trust, Series 2017-245P, Class XA</title>
        <cusip>90187LAC3</cusip>
        <identifiers>
          <isin value="US90187LAC37"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11321.70000000</valUSD>
        <pctVal>0.001191093576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.27131400</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RDF6</cusip>
        <identifiers>
          <isin value="US00206RDF64"/>
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        <balance>2000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2658.78000000</valUSD>
        <pctVal>0.000279715570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828YH7</cusip>
        <identifiers>
          <isin value="US912828YH74"/>
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        <balance>1682000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1771195.62000000</valUSD>
        <pctVal>0.186337716518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>Cheniere Corpus Christi Holdings LLC</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>Cheniere Corpus Christi Holdings LLC</title>
        <cusip>16412XAG0</cusip>
        <identifiers>
          <isin value="US16412XAG07"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208350.20000000</valUSD>
        <pctVal>0.021919374723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
        <cusip>620076BE8</cusip>
        <identifiers>
          <isin value="US620076BE80"/>
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        <balance>103000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>116592.80000000</valUSD>
        <pctVal>0.012266085049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tokyo Metropolitan Government</name>
        <lei>353800FABE4GGB1BMO18</lei>
        <title>Tokyo Metropolitan Government</title>
        <cusip>889124AK9</cusip>
        <identifiers>
          <isin value="US889124AK94"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>932058.27000000</valUSD>
        <pctVal>0.098056706855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
        <cusip>21036PAW8</cusip>
        <identifiers>
          <isin value="US21036PAW86"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104303.26000000</valUSD>
        <pctVal>0.010973170368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</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>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
        <cusip>097023CF0</cusip>
        <identifiers>
          <isin value="US097023CF00"/>
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        <balance>14000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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      <invstOrSec>
        <name>City of Seattle WA Municipal Light &amp; Power Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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          <isin value="US12629NAG07"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-10</maturityDt>
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        <name>FNMA or FHLMC</name>
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          <isin value="US01F0306864"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="DE000C4QFCK8"/>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Lehman Brothers Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <title>Mitsubishi UFJ Financial Group, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>JP Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
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        <name>Broadcom, Inc.</name>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140J7YM1</cusip>
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        <name>Entergy Louisiana LLC</name>
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        <name>Republic of Indonesia</name>
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        <invCountry>ID</invCountry>
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        <name>BBCMS Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <balance>29310.01440000</balance>
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        <curCd>USD</curCd>
        <valUSD>32457.68000000</valUSD>
        <pctVal>0.003414693389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Northwest Pipeline LLC</name>
        <lei>549300FFKMN9OW536A14</lei>
        <title>Northwest Pipeline LLC</title>
        <cusip>66775VAB1</cusip>
        <identifiers>
          <isin value="US66775VAB18"/>
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        <balance>366000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402219.69000000</valUSD>
        <pctVal>0.042315313863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="49621886"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-128.23000000</valUSD>
        <pctVal>-0.00001349037</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
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            <amtCurSold>200000.00000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>224590.06000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2020-07-06</settlementDt>
            <unrealizedAppr>-128.23000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F030678</cusip>
        <identifiers>
          <isin value="US01F0306781"/>
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        <balance>1990569.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2096551.27000000</valUSD>
        <pctVal>0.220566588921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Analog Devices, Inc.</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices, Inc.</title>
        <cusip>032654AN5</cusip>
        <identifiers>
          <isin value="US032654AN54"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16898.76000000</valUSD>
        <pctVal>0.001777825280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Rockwell Automation, Inc.</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>Rockwell Automation, Inc.</title>
        <cusip>773903AG4</cusip>
        <identifiers>
          <isin value="US773903AG44"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79737.96000000</valUSD>
        <pctVal>0.008388790723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874CU9</cusip>
        <identifiers>
          <isin value="US026874CU91"/>
        </identifiers>
        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38822.16000000</valUSD>
        <pctVal>0.004084265206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138ET5N2</cusip>
        <identifiers>
          <isin value="US3138ET5N27"/>
        </identifiers>
        <balance>53918.23870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58428.07000000</valUSD>
        <pctVal>0.006146894798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Prudential plc</name>
        <lei>5493001Z3ZE83NGK8Y12</lei>
        <title>Prudential plc, Series 2018-1A, Class A</title>
        <cusip>69355DAA5</cusip>
        <identifiers>
          <isin value="US69355DAA54"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>481151.00000000</valUSD>
        <pctVal>0.050619241391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.36887900</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>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828R28</cusip>
        <identifiers>
          <isin value="US912828R283"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>624528.12000000</valUSD>
        <pctVal>0.065703156934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Duke Energy Carolinas LLC</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>Duke Energy Carolinas LLC</title>
        <cusip>26442CAP9</cusip>
        <identifiers>
          <isin value="US26442CAP95"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28259.66000000</valUSD>
        <pctVal>0.002973042872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HBW4</cusip>
        <identifiers>
          <isin value="US14040HBW43"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>221520.76000000</valUSD>
        <pctVal>0.023304976657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</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>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
        <cusip>097023CX1</cusip>
        <identifiers>
          <isin value="US097023CX16"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99726.65000000</valUSD>
        <pctVal>0.010491690487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.93000000</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>Trinity Acquisition plc</name>
        <lei>549300FJZWZN6MJNGB63</lei>
        <title>Trinity Acquisition plc</title>
        <cusip>89641UAC5</cusip>
        <identifiers>
          <isin value="US89641UAC53"/>
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        <balance>77000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87675.60000000</valUSD>
        <pctVal>0.009223866022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</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>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YDU6</cusip>
        <identifiers>
          <isin value="US61747YDU64"/>
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        <balance>27000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29119.05000000</valUSD>
        <pctVal>0.003063454551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Moody's Corp.</name>
        <lei>549300GCEDD8YCF5WU84</lei>
        <title>Moody's Corp.</title>
        <cusip>615369AC9</cusip>
        <identifiers>
          <isin value="US615369AC97"/>
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        <balance>23000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26231.04000000</valUSD>
        <pctVal>0.002759622957</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>United States Small Business Administration</name>
        <lei>N/A</lei>
        <title>United States Small Business Administration, Series 2004-20C, Class 1</title>
        <cusip>83162CNQ2</cusip>
        <identifiers>
          <isin value="US83162CNQ23"/>
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        <balance>92661.91060000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94729.27000000</valUSD>
        <pctVal>0.009965943716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.34000000</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>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
        <cusip>494550BL9</cusip>
        <identifiers>
          <isin value="US494550BL94"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47572.41000000</valUSD>
        <pctVal>0.005004830719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-12</maturityDt>
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      <invstOrSec>
        <name>Air Canada Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US009088AC93"/>
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        <balance>18800.23000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vistra Operations Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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      <invstOrSec>
        <name>SLM Private Credit Student Loan Trust</name>
        <lei>549300ZTEFT8CS12SF95</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-15</maturityDt>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
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          <isin value="US3138M7RW76"/>
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        <balance>39874.07130000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC</name>
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        <title>FHLMC</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-22</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>JPMBB Commercial Mortgage Securities Trust, Series 2014-C22, Class A4</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
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        <balance>32857.14000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Sabine Pass Liquefaction LLC</name>
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        <name>Bayer US Finance II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bills</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-08-25</maturityDt>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <balance>75000.00000000</balance>
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        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-25</maturityDt>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>549300S7ENI2U7O0XH56</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class A4</title>
        <cusip>94989JAZ9</cusip>
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        <balance>10000.00000000</balance>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>Huntington Ingalls Industries, Inc.</name>
        <lei>5TZLZ6WJTBVJ0QWBG121</lei>
        <title>Huntington Ingalls Industries, Inc.</title>
        <cusip>446413AN6</cusip>
        <identifiers>
          <isin value="US446413AN66"/>
        </identifiers>
        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135335.80000000</valUSD>
        <pctVal>0.014237932643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.84400000</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>Global Payments, Inc.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments, Inc.</title>
        <cusip>891906AB5</cusip>
        <identifiers>
          <isin value="US891906AB53"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43388.91000000</valUSD>
        <pctVal>0.004564707771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>DEUTSCHE BANK SECURITIES INC.</name>
        <lei>9J6MBOOO7BECTDTUZW19</lei>
        <title>Treasury Repurchase Agreement</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="200630016"/>
        </identifiers>
        <balance>267570.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267570.00000000</valUSD>
        <pctVal>0.028149563066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="9J6MBOOO7BECTDTUZW19" name="DEUTSCHE BANK SECURITIES INC."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.07000000</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>272441.91456000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>272921.41233000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="267570.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TFDXX LEX BLACKROCK FED FUND</name>
        <lei>549300T8K043VZEOVK74</lei>
        <title>BLACKROCK LIQUIDITY FUNDS FEDFUND PORTFOLIO OPEN-END FUND USD</title>
        <cusip>09248U700</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="09248U700"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
        <pctVal>0.105204481320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1000000.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AG, LONDON BRANCH</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Other Repurchase Agreement</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="200630209"/>
        </identifiers>
        <balance>30889.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30889.00000000</valUSD>
        <pctVal>0.003249661223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AG, LONDON BRANCH"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.22000000</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>886.51430000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>898.75162200</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>ACMO</invstCat>
            </repurchaseCollateral>
            <repurchaseCollateral>
              <principalAmt>29575.90860900</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>30585.75235300</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>AMBS</invstCat>
            </repurchaseCollateral>
            <repurchaseCollateral>
              <principalAmt>27.52209900</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>22.29284600</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="30889.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AG, LONDON BRANCH</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Other Repurchase Agreement</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="200602244"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200000.00000000</valUSD>
        <pctVal>0.021040896264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AG, LONDON BRANCH"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.33000000</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>331.13333300</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>340.97640700</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
            <repurchaseCollateral>
              <principalAmt>5134.11599300</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>221899.76439900</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>EQT</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="200000.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS LTD</name>
        <lei>XKZZ2JZF41MRHTR1V493</lei>
        <title>Other Repurchase Agreement</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="200630207"/>
        </identifiers>
        <balance>77223.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77223.00000000</valUSD>
        <pctVal>0.008124205660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="XKZZ2JZF41MRHTR1V493" name="CITIGROUP GLOBAL MARKETS LTD"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.10000000</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>69960.56296600</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>78767.53291200</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="77223.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NBC GLOBAL FINANCE LIMITED</name>
        <lei>549300KWU8YQOYSK5Y64</lei>
        <title>Other Repurchase Agreement</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Internal ID" value="200602249"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200000.00000000</valUSD>
        <pctVal>0.021040896264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="549300KWU8YQOYSK5Y64" name="NBC GLOBAL FINANCE LIMITED"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.20000000</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>2892.33119900</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>222258.67954100</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>EQT</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="200000.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>EQ Advisors Trust</ncom:nameOfApplicant>
      <ncom:signature>Brian Walsh</ncom:signature>
      <ncom:signerName>Brian Walsh</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
