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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUITABLE HOLDINGS INC</name>
        <lei>549300FIBAKMNHPZ4009</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DTE ENERGY CO</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co</title>
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          <isin value="US2333318184"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>US BANCORP</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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          <isin value="US48128B5497"/>
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        <balance>360367.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CMS Energy Corp</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp</title>
        <cusip>125896852</cusip>
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          <isin value="US1258968528"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLSTATE CORP</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
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          <isin value="US0200027888"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61747S5047"/>
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        <balance>220669.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
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          <isin value="US00206R3003"/>
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        <balance>614495.00000000</balance>
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        <valUSD>13641789.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SEMPRA</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851604</cusip>
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          <isin value="US8168516040"/>
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        <balance>353341.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage</title>
        <cusip>74460W669</cusip>
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          <isin value="US74460W6690"/>
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        <balance>140970.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2822219.40000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern Co/The</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The</title>
        <cusip>842587404</cusip>
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          <isin value="US8425874042"/>
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        <balance>207565.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4423210.15000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS L</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd</title>
        <cusip>75968N309</cusip>
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          <isin value="US75968N3098"/>
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        <balance>115902.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Entergy Arkansas LLC</name>
        <lei>549300A0I5ONUIFMLP35</lei>
        <title>Entergy Arkansas LLC</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd</title>
        <cusip>04686J861</cusip>
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          <isin value="US04686J8615"/>
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        <balance>401062.00000000</balance>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage</title>
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      <invstOrSec>
        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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        <name>Regions Financial Corp</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp</title>
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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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      <invstOrSec>
        <name>BANK OF NY MELLON CORP</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The</title>
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      <invstOrSec>
        <name>ARCH CAPITAL GROUP LTD</name>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
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      <invstOrSec>
        <name>Bank of America Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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        <name>PUBLIC STORAGE</name>
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        <name>M&amp;T BANK CORPORATION</name>
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        <name>Spire Inc</name>
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        <name>Bank of America Corp</name>
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        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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        <name>Kimco Realty Corp</name>
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        <name>CAPITAL ONE FINANCIAL CO</name>
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        <name>SCE TRUST VIII</name>
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        <name>TENN VALLEY AUTHORITY</name>
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        <name>BANK OF AMERICA CORP</name>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CMS Energy Corp</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp</title>
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        <balance>294003.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
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          <isin value="US1746106004"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MetLife Inc</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc</title>
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          <isin value="US59156R8768"/>
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        <balance>374399.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="271285.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc</title>
        <cusip>59156R850</cusip>
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          <isin value="US59156R8503"/>
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        <balance>465048.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DTE Energy Co</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co</title>
        <cusip>233331859</cusip>
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          <isin value="US2333318598"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage</title>
        <cusip>74460W644</cusip>
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          <isin value="US74460W6443"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REINSURANCE GRP OF AMER</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
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          <isin value="US7593518027"/>
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        <balance>184544.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="4304007.80000000"/>
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      <invstOrSec>
        <name>NORTHERN TRUST CORP</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corp</title>
        <cusip>665859856</cusip>
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          <isin value="US6658598569"/>
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        <balance>184267.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61763E207</cusip>
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          <isin value="US61763E2072"/>
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        <balance>171786.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERKLEY (WR) CORPORATION</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp</title>
        <cusip>084423870</cusip>
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          <isin value="US0844238701"/>
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        <balance>139077.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>Wells Fargo &amp; Co</title>
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          <isin value="US95002Y4008"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Digital Realty Trust Inc</name>
        <lei>549300HKCZ31D08NEI41</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLSTATE CORP</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The</title>
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        <fairValLevel>1</fairValLevel>
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        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>SOUTHERN CO</name>
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        <title>Southern Co/The</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NEXTERA ENERGY CAPITAL</name>
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        <title>NextEra Energy Capital Holdings Inc</title>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</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>Entergy Louisiana LLC</name>
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        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage</title>
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        <name>BRIGHTHOUSE FINANCIAL IN</name>
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        <title>Brighthouse Financial Inc</title>
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        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp</title>
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        <name>AFFILIATED MANAGERS GROU</name>
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        <title>Affiliated Managers Group Inc</title>
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      <invstOrSec>
        <name>Bank of America Corp</name>
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      <invstOrSec>
        <name>SOUTHERN CO</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Duke Energy Corp</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
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        <name>APOLLO GLOBAL MANAGEMENT</name>
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      <invstOrSec>
        <name>Arch Capital Group Ltd</name>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
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        <name>SCE TRUST VII</name>
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        <name>RENAISSANCERE HOLDINGS L</name>
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        <name>BRIGHTHOUSE FINANCIAL IN</name>
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        <name>Entergy Mississippi LLC</name>
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        <name>Unum Group</name>
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        <name>EQUITABLE HOLDINGS INC</name>
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        <name>Bank of America Corp</name>
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        <name>Georgia Power Co</name>
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        <name>F&amp;G ANNUITIES &amp; LIFE INC</name>
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        <name>PRUDENTIAL FINANCIAL INC</name>
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        <name>REINSURANCE GRP OF AMER</name>
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        <name>AFFILIATED MANAGERS GROU</name>
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        <title>Affiliated Managers Group Inc</title>
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        <name>TPG OPERATING GROUP II</name>
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        <title>TPG Operating Group II LP</title>
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        <name>CARLYLE FINANCE LLC</name>
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        <name>BIP BERMUDA HOLDINGS I</name>
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        <name>Enstar Group Ltd</name>
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        <name>Morgan Stanley</name>
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        <name>HUNTINGTON BANCSHARES</name>
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          <loanByFundCondition isLoanByFund="Y" loanVal="486787.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD FINANCE INC</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>Brookfield Finance Inc</title>
        <cusip>11271L102</cusip>
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          <isin value="US11271L1026"/>
        </identifiers>
        <balance>188522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2895697.92000000</valUSD>
        <pctVal>0.361443707986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4608.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
        <cusip>316773860</cusip>
        <identifiers>
          <isin value="US3167738604"/>
        </identifiers>
        <balance>117636.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2312723.76000000</valUSD>
        <pctVal>0.288676331045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co</title>
        <cusip>345370845</cusip>
        <identifiers>
          <isin value="US3453708451"/>
        </identifiers>
        <balance>349862.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7340104.76000000</valUSD>
        <pctVal>0.916198703993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="10650.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBE LIFE INC</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>Globe Life Inc</title>
        <cusip>37959E300</cusip>
        <identifiers>
          <isin value="US37959E3009"/>
        </identifiers>
        <balance>152878.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2461335.80000000</valUSD>
        <pctVal>0.307226224119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE Trust IV</name>
        <lei>N/A</lei>
        <title>SCE Trust IV</title>
        <cusip>78409G206</cusip>
        <identifiers>
          <isin value="US78409G2066"/>
        </identifiers>
        <balance>153327.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3455990.58000000</valUSD>
        <pctVal>0.431379958997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="491372.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MetLife Inc</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc</title>
        <cusip>59156R504</cusip>
        <identifiers>
          <isin value="US59156R5046"/>
        </identifiers>
        <balance>279966.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6489611.88000000</valUSD>
        <pctVal>0.810039391573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="739478.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co</title>
        <cusip>345370837</cusip>
        <identifiers>
          <isin value="US3453708378"/>
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        <balance>373104.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7756832.16000000</valUSD>
        <pctVal>0.968215005706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCE Trust V</name>
        <lei>N/A</lei>
        <title>SCE Trust V</title>
        <cusip>78409W201</cusip>
        <identifiers>
          <isin value="US78409W2017"/>
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        <balance>141464.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3225379.20000000</valUSD>
        <pctVal>0.402594832029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL IN</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc</title>
        <cusip>10922N202</cusip>
        <identifiers>
          <isin value="US10922N2027"/>
        </identifiers>
        <balance>172715.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3295402.20000000</valUSD>
        <pctVal>0.411335168025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="318636.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prudential Financial Inc</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc</title>
        <cusip>744320805</cusip>
        <identifiers>
          <isin value="US7443208050"/>
        </identifiers>
        <balance>260974.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6135498.74000000</valUSD>
        <pctVal>0.765838660038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1622190.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>48128B648</cusip>
        <identifiers>
          <isin value="US48128B6487"/>
        </identifiers>
        <balance>360367.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9084852.07000000</valUSD>
        <pctVal>1.133979686211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5077294.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>060505625</cusip>
        <identifiers>
          <isin value="US0605056250"/>
        </identifiers>
        <balance>52655.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1053626.55000000</valUSD>
        <pctVal>0.131514646066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASSOC BANC-CORP</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>Associated Banc-Corp</title>
        <cusip>045487600</cusip>
        <identifiers>
          <isin value="US0454876006"/>
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        <balance>141515.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3329847.95000000</valUSD>
        <pctVal>0.415634718582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="77694.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The</title>
        <cusip>808513865</cusip>
        <identifiers>
          <isin value="US8085138654"/>
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        <balance>276978.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5245963.32000000</valUSD>
        <pctVal>0.654806021458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALLSTATE CORP</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The</title>
        <cusip>020002838</cusip>
        <identifiers>
          <isin value="US0200028381"/>
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        <balance>534563.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11011997.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="488446.60000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06055H400</cusip>
        <identifiers>
          <isin value="US06055H4002"/>
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        <balance>190614.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3423427.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
        <cusip>902973668</cusip>
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          <isin value="US9029736686"/>
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        <balance>207403.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3797548.93000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="111691.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RURAL UTIL COOP</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp</title>
        <cusip>637432105</cusip>
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          <isin value="US6374321056"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="243372.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
        <cusip>94988U128</cusip>
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          <isin value="US94988U1280"/>
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        <balance>412931.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7775490.73000000</valUSD>
        <pctVal>0.970543985769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AEGON Funding Co LLC</name>
        <lei>KEIOKM01PSK5VZ5CCI74</lei>
        <title>AEGON Funding Co LLC</title>
        <cusip>00775V104</cusip>
        <identifiers>
          <isin value="US00775V1044"/>
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        <balance>431312.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8419210.24000000</valUSD>
        <pctVal>1.050893653803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage</title>
        <cusip>74460W552</cusip>
        <identifiers>
          <isin value="US74460W5528"/>
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        <balance>260737.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4761057.62000000</valUSD>
        <pctVal>0.594279640919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>



    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-07-29</ncom:dateSigned>
      <ncom:nameOfApplicant>SPDR SERIES TRUST</ncom:nameOfApplicant>
      <ncom:signature>Arthur Jensen</ncom:signature>
      <ncom:signerName>Arthur Jensen</ncom:signerName>
      <ncom:title>Deputy Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
