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      <invstOrSec>
        <name>TD SYNNEX Corp.</name>
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        <name>Zoetis Inc.</name>
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      <invstOrSec>
        <name>Accenture Capital Inc.</name>
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        <name>Best Buy Co., Inc.</name>
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        <name>Marriott International, Inc.</name>
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        <name>Broadcom Inc.</name>
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        <name>General Mills, Inc.</name>
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        <name>EPR Properties</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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        <name>Royalty Pharma PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Cencora, Inc.</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Bunge Ltd. Finance Corp.</name>
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        <title>Bunge Ltd. Finance Corp.</title>
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        <name>Public Service Enterprise Group Inc.</name>
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        <name>Becton, Dickinson and Co.</name>
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        <name>Amphenol Corp.</name>
        <lei>549300D3L3G0R4U4VT04</lei>
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        <name>Lincoln National Corp.</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>Lincoln National Corp.</title>
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        <name>American Electric Power Co., Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co., Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Teledyne Technologies Inc.</name>
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      <invstOrSec>
        <name>Northern Trust Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Prologis, L.P.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Walmart Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc.</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>2028-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>Dollar Tree, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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        <name>NetApp, Inc.</name>
        <lei>QTX3D84DZDD5JYOCYH15</lei>
        <title>NetApp, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-22</maturityDt>
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          <annualizedRt>2.70000000</annualizedRt>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Aflac Inc.</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>Aflac Inc.</title>
        <cusip>001055CH3</cusip>
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        <curCd>USD</curCd>
        <valUSD>126905.81000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
        <cusip>03073EAT2</cusip>
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        <curCd>USD</curCd>
        <valUSD>298404.18000000</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>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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        <name>Loews Corp.</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>Loews Corp.</title>
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        <balance>110000.00000000</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>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <name>Newmont Corp. / Newcrest Finance Pty Ltd.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
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          <annualizedRt>5.35000000</annualizedRt>
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        <name>General Electric Co.</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
        <cusip>36962GXZ2</cusip>
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        <balance>125000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <name>Hyatt Hotels Corp.</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2032-03-30</maturityDt>
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        <name>CBRE Services, Inc.</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE Services, Inc.</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Conagra Brands, Inc.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands, Inc.</title>
        <cusip>205887CC4</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-11-01</maturityDt>
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        <name>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>Veralto Corp.</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Tractor Supply Co.</name>
        <lei>549300OJ9VZHZRO6I137</lei>
        <title>Tractor Supply Co.</title>
        <cusip>892356AA4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>Consumers Energy Co.</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>Consumers Energy Co.</title>
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        <name>Starbucks Corp.</name>
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        <name>Aflac Inc.</name>
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        <name>Sonoco Products Co.</name>
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        <name>Norfolk Southern Corp.</name>
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        <name>Hubbell Inc.</name>
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        <name>Hewlett Packard Enterprise Co.</name>
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        <name>Booz Allen Hamilton Inc.</name>
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        <name>AbbVie Inc.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>John Deere Capital Corp.</name>
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        <name>Owens Corning</name>
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        <name>Altria Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Concentrix Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Boston Properties L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Berry Global, Inc.</name>
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        <name>Omnicom Group Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-02</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Quest Diagnostics Inc.</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>Quest Diagnostics Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-15</maturityDt>
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        <name>Devon Energy Corp.</name>
        <lei>54930042348RKR3ZPN35</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-30</maturityDt>
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        <name>Analog Devices, Inc.</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CNH Industrial N.V.</name>
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        <title>CNH Industrial N.V.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BorgWarner Inc.</name>
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        <name>LYB International Finance III, LLC</name>
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        <name>American Express Co.</name>
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        <name>Kyndryl Holdings, Inc.</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
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        <name>Honeywell International Inc.</name>
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        <name>Kenvue Inc.</name>
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        <name>DuPont de Nemours, Inc.</name>
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        <name>Ovintiv Inc.</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv Inc.</title>
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        <invCountry>US</invCountry>
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        <name>McCormick &amp; Co., Inc.</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>McCormick &amp; Co., Inc.</title>
        <cusip>579780AU1</cusip>
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        <name>Norfolk Southern Corp.</name>
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        <name>VeriSign, Inc.</name>
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        <name>Humana Inc.</name>
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          <maturityDt>2031-04-15</maturityDt>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>Ferguson Enterprises Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>W.P. Carey Inc.</name>
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        <name>Ecolab Inc.</name>
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        <name>American Assets Trust, L.P.</name>
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        <name>Southwest Airlines Co.</name>
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        <name>Interstate Power and Light Co.</name>
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        <name>Jacobs Engineering Group Inc.</name>
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        <name>AT&amp;T Inc.</name>
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        <name>General Dynamics Corp.</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Essent Group Ltd.</name>
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        <name>Willis North America Inc.</name>
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        <name>Weyerhaeuser Co.</name>
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        <name>Global Payments Inc.</name>
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        <name>Visa Inc.</name>
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        <name>NiSource Inc.</name>
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        <name>Applied Materials, Inc.</name>
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        <name>Colgate-Palmolive Co.</name>
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        <name>MetLife, Inc.</name>
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        <name>Southern California Edison Co.</name>
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        <name>CenterPoint Energy Houston Electric, LLC</name>
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        <name>UnitedHealth Group Inc.</name>
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        <name>Eastman Chemical Co.</name>
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        <name>Oracle Corp.</name>
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        <name>Consumers Energy Co.</name>
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        <name>General Electric Co.</name>
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        <name>CBRE Services, Inc.</name>
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        <name>Florida Power &amp; Light Co.</name>
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        <name>Booking Holdings Inc.</name>
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        <name>RenaissanceRe Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-05</maturityDt>
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        <name>Fidelity National Information Services, Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services, Inc.</title>
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          <isin value="US31620MCD65"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-10</maturityDt>
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        <name>AptarGroup, Inc.</name>
        <lei>VNPEQDQFAA7IY1T2PX43</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-30</maturityDt>
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        <name>Diamondback Energy, Inc.</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>Diamondback Energy, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <name>AES Corp. (The)</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
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          <annualizedRt>5.80000000</annualizedRt>
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        <name>Airbnb, Inc.</name>
        <lei>549300HMUDNO0RY56D37</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-16</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Xilinx, Inc.</name>
        <lei>6EY4K7ZMF9UX1CU6KC79</lei>
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          <maturityDt>2030-06-01</maturityDt>
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        <name>NetApp, Inc.</name>
        <lei>QTX3D84DZDD5JYOCYH15</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-17</maturityDt>
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          <annualizedRt>5.70000000</annualizedRt>
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        <name>Applied Materials, Inc.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
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        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
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        <name>Hubbell Inc.</name>
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        <name>Ralph Lauren Corp.</name>
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        <name>Progressive Corp. (The)</name>
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        <name>Target Corp.</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>Target Corp.</title>
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        <name>IQVIA Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA Inc.</title>
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        <name>QUALCOMM Inc.</name>
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        <name>Jefferies Financial Group Inc.</name>
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        <name>ServiceNow, Inc.</name>
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        <name>Jackson National Life Global Funding</name>
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        <name>Schlumberger Holdings Corp.</name>
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        <name>Targa Resources Corp.</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>Howmet Aerospace Inc.</name>
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        <name>Ameren Corp.</name>
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        <name>Duke Energy Carolinas, LLC</name>
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        <name>Motorola Solutions, Inc.</name>
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        <name>Medtronic, Inc.</name>
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        <name>Kimco Realty OP, LLC</name>
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        <name>GE HealthCare Technologies Inc.</name>
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        <name>Intuit Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Johnson &amp; Johnson</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-01</maturityDt>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-28</maturityDt>
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        <name>DENTSPLY SIRONA Inc.</name>
        <lei>9NHEHR1SOZCYXDO8HO28</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CVS Health Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cubesmart, L.P.</name>
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        <name>McKesson Corp.</name>
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        <name>Sherwin-Williams Co. (The)</name>
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        <name>Take-Two Interactive Software, Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
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        <name>Welltower OP LLC</name>
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        <name>Marvell Technology, Inc.</name>
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        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
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        <name>Becton, Dickinson and Co.</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
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        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
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        <name>Zoetis Inc.</name>
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        <name>Dow Chemical Co. (The)</name>
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        <name>Flex Ltd.</name>
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        <name>Intuit Inc.</name>
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        <name>Invitation Homes Operating Partnership L.P.</name>
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        <name>Universal Health Services, Inc.</name>
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        <name>Global Payments Inc.</name>
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        <name>Ryder System, Inc.</name>
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        <name>Thermo Fisher Scientific Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-15</maturityDt>
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        <name>Cummins Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-09</maturityDt>
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        <name>Stanley Black &amp; Decker, Inc.</name>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>Brighthouse Financial, Inc.</name>
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        <name>Exxon Mobil Corp.</name>
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        <title>Exxon Mobil Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Howmet Aerospace Inc.</name>
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        <name>Halliburton Co.</name>
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        <name>Carrier Global Corp.</name>
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        <name>Mid-Atlantic Interstate Transmission, LLC</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>Biogen Inc.</name>
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        <name>UnitedHealth Group Inc.</name>
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        <name>Bio-Rad Laboratories, Inc.</name>
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        <name>Vulcan Materials Co.</name>
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      <invstOrSec>
        <name>Halliburton Co.</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co.</title>
        <cusip>406216BL4</cusip>
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        <name>Arthur J. Gallagher &amp; Co.</name>
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        <name>Northern Trust Corp.</name>
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        <name>Paychex, Inc.</name>
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          <maturityDt>2032-04-15</maturityDt>
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        <name>Polaris Inc.</name>
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        <title>Polaris Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>Parker-Hannifin Corp.</name>
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        <name>Jabil Inc.</name>
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        <title>Jabil Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-01</maturityDt>
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        <name>San Diego Gas &amp; Electric Co.</name>
        <lei>KNIRVXKVNJJ4P8OTMS63</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
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        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
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        <name>Vontier Corp.</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Entergy Louisiana, LLC</name>
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        <name>Intel Corp.</name>
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        <name>International Flavors &amp; Fragrances Inc.</name>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <name>Alexander Funding Trust II</name>
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        <name>Alphabet Inc.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet Inc.</title>
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        <invCountry>US</invCountry>
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        <name>PPG Industries, Inc.</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>CME Group Inc.</name>
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      <invstOrSec>
        <name>Sysco Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Genuine Parts Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Brixmor Operating Partnership L.P.</name>
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        <name>Pinnacle West Capital Corp.</name>
        <lei>TWSEY0NEDUDCKS27AH81</lei>
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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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          <maturityDt>2031-02-08</maturityDt>
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      <invstOrSec>
        <name>Lincoln National Corp.</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <name>Phillips 66</name>
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        <name>GXO Logistics, Inc.</name>
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        <name>Allstate Corp. (The)</name>
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        <name>Kimberly-Clark Corp.</name>
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        <name>Valero Energy Corp.</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>Valero Energy Corp.</title>
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        <name>Amgen Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-03-02</maturityDt>
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      <invstOrSec>
        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
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        <name>Honeywell International Inc.</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>Kirby Corp.</name>
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        <name>Avery Dennison Corp.</name>
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        <name>AutoZone, Inc.</name>
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        <name>Western Union Co. (The)</name>
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        <name>Acuity Brands Lighting, Inc.</name>
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        <name>Cboe Global Markets, Inc.</name>
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        <name>TD SYNNEX Corp.</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>American Tower Corp.</name>
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        <name>Nucor Corp.</name>
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        <name>TPG Operating Group II, L.P.</name>
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        <name>MetLife, Inc.</name>
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        <name>Laboratory Corp. of America Holdings</name>
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        <name>Phillips 66</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Radian Group Inc.</name>
        <lei>54930005OUP720S5U385</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>VICI Properties L.P.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Quanta Services, Inc.</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
        <title>Quanta Services, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-09</maturityDt>
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        <name>Southern Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <name>Cintas Corp. No. 2</name>
        <lei>549300QVUQTTKMTE0G41</lei>
        <title>Cintas Corp. No. 2</title>
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          <isin value="US17252MAN02"/>
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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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>Huntington Ingalls Industries, Inc.</name>
        <lei>5TZLZ6WJTBVJ0QWBG121</lei>
        <title>Huntington Ingalls Industries, Inc.</title>
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        <balance>60000.00000000</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>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.74900000</annualizedRt>
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        <name>Clorox Co. (The)</name>
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        <title>Clorox Co. (The)</title>
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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>3.90000000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>388227.07000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>John Deere Capital Corp.</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-14</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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        <name>CDW LLC / CDW Finance Corp.</name>
        <lei>549300RU2J599RPFD076</lei>
        <title>CDW LLC / CDW Finance Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>2.67000000</annualizedRt>
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      <invstOrSec>
        <name>Trimble Inc.</name>
        <lei>549300E2MI7NSZFQWS19</lei>
        <title>Trimble Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>Walmart Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc.</title>
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        <name>Cheniere Energy, Inc.</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
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        <name>Freeport-McMoRan Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc.</title>
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        <name>American Transmission Systems, Inc.</name>
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        <name>Packaging Corp. of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
        <cusip>458140CG3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Devon Energy Corp.</name>
        <lei>54930042348RKR3ZPN35</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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      <invstOrSec>
        <name>Carlisle Cos. Inc.</name>
        <lei>XR64VGX1ZPX6G7ZN7Z11</lei>
        <title>Carlisle Cos. Inc.</title>
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          <isin value="US142339AL49"/>
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        <balance>70000.00000000</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>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>GXO Logistics, Inc.</name>
        <lei>5493007CNWMXN78JRN66</lei>
        <title>GXO Logistics, Inc.</title>
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          <isin value="US36262GAF81"/>
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        <balance>69000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70875.86000000</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>2029-05-06</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Expedia Group, Inc.</name>
        <lei>2549009GW3Z3DQCB8H87</lei>
        <title>Expedia Group, Inc.</title>
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        <balance>63000.00000000</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>2028-02-15</maturityDt>
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          <annualizedRt>3.80000000</annualizedRt>
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        <name>DH Europe Finance II S.a.r.l.</name>
        <lei>222100KDGL314CKTZ511</lei>
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        <balance>306000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>285976.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
        <lei>N/A</lei>
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        <cusip>00774MAY1</cusip>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96045.62000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Dollar General Corp.</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>Dollar General Corp.</title>
        <cusip>256677AG0</cusip>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123014.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>TRANE TECHNOLOGIES FINANCING Ltd.</name>
        <lei>549300A5OEF3CJI2CO89</lei>
        <title>TRANE TECHNOLOGIES FINANCING Ltd.</title>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97732.63000000</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>2029-03-21</maturityDt>
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          <annualizedRt>3.80000000</annualizedRt>
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        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Humana Inc.</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>Humana Inc.</title>
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          <maturityDt>2034-03-15</maturityDt>
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      <invstOrSec>
        <name>3M Co.</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M Co.</title>
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          <maturityDt>2035-03-15</maturityDt>
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      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
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        <balance>95000.00000000</balance>
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          <maturityDt>2032-07-15</maturityDt>
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        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
        <lei>5493000FQO8XF9C0RT95</lei>
        <title>Pfizer Investment Enterprises Pte. Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
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        <invCountry>US</invCountry>
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        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>Atmos Energy Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
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      <invstOrSec>
        <name>Keurig Dr Pepper Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc.</title>
        <cusip>49271VAF7</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Campbell's Co. (The)</name>
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        <name>Simon Property Group, L.P.</name>
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        <name>Lowe`s Cos., Inc.</name>
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        <name>AGCO Corp.</name>
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        <name>Franklin Templeton, Inc.</name>
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        <name>COPT Defense Properties, L.P.</name>
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          <maturityDt>2031-04-15</maturityDt>
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        <name>Mohawk Industries, Inc.</name>
        <lei>549300JI1115MG3Q6322</lei>
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        <name>NIKE, Inc.</name>
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        <name>AEP Texas Inc.</name>
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        <name>CME Group Inc.</name>
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        <name>VICI Properties L.P.</name>
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        <name>Nasdaq, Inc.</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Workday, Inc.</name>
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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
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        <name>Elevance Health, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
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        <invCountry>US</invCountry>
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        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc.</title>
        <cusip>92345YAF3</cusip>
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        <name>Kraft Heinz Foods Co.</name>
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      <invstOrSec>
        <name>Solventum Corp.</name>
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        <name>Marathon Petroleum Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Jabil Inc.</name>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Fiserv, Inc.</name>
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        <name>KLA Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>Coca-Cola Consolidated, Inc.</name>
        <lei>57VG5X0E00X0QJU7CQ58</lei>
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        <name>Southwest Airlines Co.</name>
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        <name>Sun Communities Operating L.P.</name>
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        <name>Baxter International Inc.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
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        <name>Loews Corp.</name>
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        <name>CDW LLC / CDW Finance Corp.</name>
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        <name>PACCAR Financial Corp.</name>
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        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc.</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Universal Health Services, Inc.</name>
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        <name>LPL Holdings, Inc.</name>
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        <name>Hasbro, Inc.</name>
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        <name>Wisconsin Electric Power Co.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>General Mills, Inc.</name>
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        <name>Reliance, Inc.</name>
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        <name>Clorox Co. (The)</name>
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        <name>American Homes 4 Rent, L.P.</name>
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        <name>Textron Inc.</name>
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        <name>Eaton Corp.</name>
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        <name>Brixmor Operating Partnership L.P.</name>
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        <name>Royalty Pharma PLC</name>
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        <name>Adobe Inc.</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>LKQ Corp.</name>
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        <name>Abbott Laboratories</name>
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        <name>Autodesk, Inc.</name>
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        <name>United Parcel Service, Inc.</name>
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        <name>HF Sinclair Corp.</name>
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      <invstOrSec>
        <name>QUALCOMM Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kraft Heinz Foods Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>EOG Resources, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fortinet, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
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        <name>Dominion Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PPL Electric Utilities Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
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        <name>Equifax Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax Inc.</title>
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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>
          <annualizedRt>5.10000000</annualizedRt>
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        <name>Public Storage Operating Co.</name>
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        <title>Public Storage Operating Co.</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>2033-08-01</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>Flowserve Corp.</name>
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        <title>Flowserve Corp.</title>
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        <balance>110000.00000000</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>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Welltower OP LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>HCA Inc.</name>
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        <title>HCA Inc.</title>
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        <name>Healthcare Realty Holdings, L.P.</name>
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        <name>Fortive Corp.</name>
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        <title>Fortive Corp.</title>
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        <name>Keurig Dr Pepper Inc.</name>
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        <title>Keurig Dr Pepper Inc.</title>
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        <name>WRKCo Inc.</name>
        <lei>549300JEB576INN13W07</lei>
        <title>WRKCo Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Consolidated Edison Co. of New York, Inc.</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>Consolidated Edison Co. of New York, Inc.</title>
        <cusip>209111GA5</cusip>
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        <name>NSTAR Electric Co.</name>
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        <name>Public Service Enterprise Group Inc.</name>
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        <name>Invitation Homes Operating Partnership L.P.</name>
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        <name>Aon North America, Inc.</name>
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        <name>Allstate Corp. (The)</name>
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        <name>Ferguson Enterprises Inc.</name>
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        <name>Crown Castle Inc.</name>
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        <name>ERP Operating L.P.</name>
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        <name>Valero Energy Corp.</name>
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        <name>Genuine Parts Co.</name>
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        <name>Kroger Co. (The)</name>
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        <name>Westlake Corp.</name>
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        <name>Agilent Technologies, Inc.</name>
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        <name>Southern Copper Corp.</name>
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        <name>Sonoco Products Co.</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
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        <name>Tyson Foods, Inc.</name>
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        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
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        <name>Texas Instruments Inc.</name>
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        <name>ERP Operating L.P.</name>
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        <name>Stryker Corp.</name>
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        <name>Ryder System, Inc.</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>American Water Capital Corp.</name>
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        <name>Old Republic International Corp.</name>
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        <name>Eagle Materials Inc.</name>
        <lei>529900KRXRGXL61SG039</lei>
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        <name>Archer-Daniels-Midland Co.</name>
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        <name>Packaging Corp. of America</name>
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        <name>Cadence Design Systems, Inc.</name>
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        <name>Dollar General Corp.</name>
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        <name>Quest Diagnostics Inc.</name>
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        <name>CNA Financial Corp.</name>
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        <name>Enact Holdings, Inc.</name>
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        <name>State Street Corp.</name>
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        <name>Parker-Hannifin Corp.</name>
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        <title>Parker-Hannifin Corp.</title>
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        <name>United Airlines, Inc.</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CenterPoint Energy, Inc.</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy, Inc.</title>
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          <isin value="US15189TBG13"/>
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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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AppLovin Corp.</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>AppLovin Corp.</title>
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          <isin value="US03831WAB46"/>
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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>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Quanta Services, Inc.</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
        <title>Quanta Services, Inc.</title>
        <cusip>74762EAF9</cusip>
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          <isin value="US74762EAF97"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78023.02000000</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>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kenvue Inc.</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>Kenvue Inc.</title>
        <cusip>49177JAK8</cusip>
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          <isin value="US49177JAK88"/>
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        <balance>108000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106503.07000000</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>2033-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>Steel Dynamics, Inc.</title>
        <cusip>858119BK5</cusip>
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          <isin value="US858119BK53"/>
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        <balance>91000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86350.77000000</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>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</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>
        <cusip>110122EH7</cusip>
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          <isin value="US110122EH72"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>240073.56000000</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>2034-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wisconsin Electric Power Co.</name>
        <lei>AENKIFMULUAWOUU8Q584</lei>
        <title>Wisconsin Electric Power Co.</title>
        <cusip>976656CN6</cusip>
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          <isin value="US976656CN66"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103489.22000000</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>2032-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jacobs Solutions Inc.</name>
        <lei>254900E3KHXCC2C8K272</lei>
        <title>Jacobs Solutions Inc.</title>
        <cusip>46982LAB4</cusip>
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          <isin value="US46982LAB45"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105414.82000000</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>2036-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSX Corp.</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX Corp.</title>
        <cusip>126408HU0</cusip>
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          <isin value="US126408HU08"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123950.61000000</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>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>Colgate-Palmolive Co.</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>Colgate-Palmolive 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>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>First American Financial Corp.</name>
        <lei>549300B6VEZK3N0A1P55</lei>
        <title>First American Financial Corp.</title>
        <cusip>31847RAH5</cusip>
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          <isin value="US31847RAH57"/>
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        <balance>160000.00000000</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>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
        <cusip>871607AE7</cusip>
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          <isin value="US871607AE70"/>
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        <balance>55000.00000000</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>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <name>Consolidated Edison Co. of New York, Inc.</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>Consolidated Edison Co. of New York, Inc.</title>
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        <balance>120000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Delta Air Lines, Inc.</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
        <title>Delta Air Lines, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>DTE Electric Co.</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co., Series C</title>
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        <invCountry>US</invCountry>
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        <name>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp.</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>2035-08-15</maturityDt>
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        <name>Fox Corp.</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp.</title>
        <cusip>35137LAN5</cusip>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89570.08000000</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>2033-10-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>Assured Guaranty US Holdings Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kilroy Realty, L.P.</name>
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        <name>Eidp, Inc.</name>
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        <name>Amdocs Ltd.</name>
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        <name>Host Hotels &amp; Resorts, L.P.</name>
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        <name>Revvity, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
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        <name>Verizon Communications Inc.</name>
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        <title>Verizon Communications Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>D.R. Horton, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-15</maturityDt>
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        <name>Molson Coors Beverage Co.</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co.</title>
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          <maturityDt>2031-07-08</maturityDt>
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        <name>Dick's Sporting Goods, Inc.</name>
        <lei>529900SSBV5I4LWSK313</lei>
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        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
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        <name>W.W. Grainger, Inc.</name>
        <lei>549300TWZSP6O1IH2V34</lei>
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        <name>Ventas Realty, L.P.</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
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        <name>Leidos, Inc.</name>
        <lei>5493006I78VIN6J1BQ95</lei>
        <title>Leidos, Inc.</title>
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        <name>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>Veralto Corp.</title>
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        <name>GABX Leasing LLC</name>
        <lei>25490085PXP0WGRIRI44</lei>
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        <name>Extra Space Storage L.P.</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>Extra Space Storage L.P.</title>
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        <name>Roper Technologies, Inc.</name>
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        <name>Xylem Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Gilead Sciences, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NNN REIT, Inc.</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Cintas Corp. No. 2</name>
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        <name>Public Storage Operating Co.</name>
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        <name>EQT Corp.</name>
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        <name>Exelon Corp.</name>
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        <name>Helmerich &amp; Payne, Inc.</name>
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        <name>Mid-America Apartments, L.P.</name>
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        <name>Verisk Analytics, Inc.</name>
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        <name>RTX Corp.</name>
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        <name>Invesco Private Prime Fund</name>
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        <name>Eidp, Inc.</name>
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        <name>Flowserve Corp.</name>
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        <name>Amphenol Corp.</name>
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        <name>Chevron U.S.A. Inc.</name>
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        <title>Chevron U.S.A. Inc.</title>
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          <isin value="US166756BF23"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>356470.29000000</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>2035-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.98000000</annualizedRt>
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      <invstOrSec>
        <name>Chubb INA Holdings LLC</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>Chubb INA Holdings LLC</title>
        <cusip>171239AK2</cusip>
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          <isin value="US171239AK24"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>235480.01000000</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>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>National Fuel Gas Co.</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co.</title>
        <cusip>636180BU4</cusip>
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          <isin value="US636180BU48"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50855.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>Paychex, Inc.</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>Paychex, Inc.</title>
        <cusip>704326AA5</cusip>
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          <isin value="US704326AA51"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110074.58000000</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>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Block Financial LLC</name>
        <lei>N/A</lei>
        <title>Block Financial LLC</title>
        <cusip>093662AH7</cusip>
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          <isin value="US093662AH70"/>
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        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99210.43000000</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>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Carrier Global Corp.</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corp.</title>
        <cusip>14448CAQ7</cusip>
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          <isin value="US14448CAQ78"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97673.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.72200000</annualizedRt>
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      <invstOrSec>
        <name>AppLovin Corp.</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>AppLovin Corp.</title>
        <cusip>03831WAD0</cusip>
        <identifiers>
          <isin value="US03831WAD02"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59039.42000000</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>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807CH3</cusip>
        <identifiers>
          <isin value="US666807CH36"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136513.54000000</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>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>HP Inc.</name>
        <lei>WHKXQACZ14C5XRO8LW03</lei>
        <title>HP Inc.</title>
        <cusip>40434LAB1</cusip>
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          <isin value="US40434LAB18"/>
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        <balance>156000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154272.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Vertiv Holdings Co.</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>Vertiv Holdings Co.</title>
        <cusip>92537NAA6</cusip>
        <identifiers>
          <isin value="US92537NAA63"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94675.75000000</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>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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      <invstOrSec>
        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>Eversource Energy</title>
        <cusip>30040WAP3</cusip>
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          <isin value="US30040WAP32"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>163808.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Augusta SpinCo Corp.</name>
        <lei>N/A</lei>
        <title>Augusta SpinCo Corp.</title>
        <cusip>051473AF3</cusip>
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          <isin value="US051473AF38"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48777.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.24500000</annualizedRt>
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      <invstOrSec>
        <name>Johnson Controls International PLC / Tyco Fire &amp; Security Finance S.C.A.</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International PLC / Tyco Fire &amp; Security Finance S.C.A.</title>
        <cusip>47837RAE0</cusip>
        <identifiers>
          <isin value="US47837RAE09"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118337.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>NVIDIA Corp.</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp.</title>
        <cusip>67066GAT1</cusip>
        <identifiers>
          <isin value="US67066GAT13"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199709.95000000</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>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>Jefferies Financial Group Inc.</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group Inc.</title>
        <cusip>47233WEJ4</cusip>
        <identifiers>
          <isin value="US47233WEJ45"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81113.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
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      <invstOrSec>
        <name>Fortune Brands Innovations, Inc.</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>Fortune Brands Innovations, Inc.</title>
        <cusip>34964CAH9</cusip>
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          <isin value="US34964CAH97"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61507.28000000</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>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>GABX Leasing LLC</name>
        <lei>25490085PXP0WGRIRI44</lei>
        <title>GABX Leasing LLC</title>
        <cusip>36274FAB5</cusip>
        <identifiers>
          <isin value="US36274FAB58"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77475.42000000</valUSD>
        <pctVal>0.062514318202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</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>Automatic Data Processing, Inc.</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>Automatic Data Processing, Inc.</title>
        <cusip>053015AH6</cusip>
        <identifiers>
          <isin value="US053015AH60"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133783.38000000</valUSD>
        <pctVal>0.107948776367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>AT&amp;T Inc.</name>
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        <name>McDonald's Corp.</name>
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        <name>Uber Technologies, Inc.</name>
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        <name>Regions Financial Corp.</name>
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        <name>Boeing Co. (The)</name>
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        <name>Evergy, Inc.</name>
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        <name>Abbott Laboratories</name>
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        <name>McKesson Corp.</name>
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        <name>Starbucks Corp.</name>
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        <name>Prudential Financial, Inc.</name>
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        <name>NiSource Inc.</name>
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        <name>Flex Ltd.</name>
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        <name>Duke Energy Corp.</name>
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        <name>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ingersoll Rand Inc.</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Ingersoll Rand Inc.</title>
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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>2028-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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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="US37045XEN21"/>
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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>2029-01-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities, Inc.</title>
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          <isin value="US015271AW93"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78951.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities, Inc.</title>
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          <isin value="US29670GAD43"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55422.69000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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          <isCashCollateral>N</isCashCollateral>
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        <name>PayPal Holdings, Inc.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>131975.80000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>536787.48000000</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>2031-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</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>CF Industries, Inc.</name>
        <lei>5FVKT86LAD2F40NPC183</lei>
        <title>CF Industries, Inc.</title>
        <cusip>12527GAF0</cusip>
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          <isin value="US12527GAF00"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>156591.80000000</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>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Assets Trust, L.P.</name>
        <lei>549300V1TI0SMG9Z6U69</lei>
        <title>American Assets Trust, L.P.</title>
        <cusip>02401LAB0</cusip>
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          <isin value="US02401LAB09"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29819.93000000</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>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Expedia Group, Inc.</name>
        <lei>2549009GW3Z3DQCB8H87</lei>
        <title>Expedia Group, Inc.</title>
        <cusip>30212PBL8</cusip>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>117151.03000000</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>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <name>Hershey Co. (The)</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Co. (The)</title>
        <cusip>427866BL1</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100070.76000000</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>2030-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Johnson Controls International PLC / Tyco Fire &amp; Security Finance S.C.A.</name>
        <lei>549300XQ6S1GYKGBL205</lei>
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        <cusip>47837RAA8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830BR9</cusip>
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          <isin value="US539830BR92"/>
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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>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
        <cusip>337738BH0</cusip>
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        <balance>135000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>Illumina, Inc.</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina, Inc.</title>
        <cusip>452327AM1</cusip>
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          <isin value="US452327AM11"/>
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        <balance>105000.00000000</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>2031-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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      <invstOrSec>
        <name>AutoNation, Inc.</name>
        <lei>N/A</lei>
        <title>AutoNation, Inc.</title>
        <cusip>05329RAA1</cusip>
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          <isin value="US05329RAA14"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
        <cusip>21036PBH0</cusip>
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        <balance>125000.00000000</balance>
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        <valUSD>109208.74000000</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>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <name>TRANE TECHNOLOGIES FINANCING Ltd.</name>
        <lei>549300A5OEF3CJI2CO89</lei>
        <title>TRANE TECHNOLOGIES FINANCING Ltd.</title>
        <cusip>892938AA9</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100636.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arch Capital Group Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Broadridge Financial Solutions, Inc.</name>
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        <name>Extra Space Storage L.P.</name>
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        <name>Fortune Brands Innovations, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>National Fuel Gas Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Dollar Tree, Inc.</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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        <name>Boston Scientific Corp.</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>2.65000000</annualizedRt>
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        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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        <name>Vulcan Materials Co.</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Stryker Corp.</name>
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        <title>Stryker Corp.</title>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>Chevron Corp.</name>
        <lei>LJOF0JWZSCIUPEC3LQ45</lei>
        <title>Chevron Corp.</title>
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        <name>Crown Castle Inc.</name>
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        <name>Kimco Realty OP, LLC</name>
        <lei>549300EA7I6T15IBYS12</lei>
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        <name>Coca-Cola Consolidated, Inc.</name>
        <lei>57VG5X0E00X0QJU7CQ58</lei>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <name>Ventas Realty, L.P.</name>
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        <name>ConocoPhillips Co.</name>
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        <name>3M Co.</name>
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        <name>DXC Technology Co.</name>
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        <name>RGA Global Funding</name>
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        <name>Conagra Brands, Inc.</name>
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        <name>HP Inc.</name>
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        <name>Host Hotels &amp; Resorts, L.P.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Lennox International Inc.</name>
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        <name>PepsiCo, Inc.</name>
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        <name>Las Vegas Sands Corp.</name>
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        <name>Aon Corp.</name>
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        <name>PacifiCorp</name>
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        <name>LYB International Finance III, LLC</name>
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        <name>Masco Corp.</name>
        <lei>5GCSNMQXHEYA1JO8QN11</lei>
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        <name>Adobe Inc.</name>
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        <name>ICON Investments Six DAC</name>
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        <name>CNA Financial Corp.</name>
        <lei>549300YX2GSZD7YG1R84</lei>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Western Union Co. (The)</name>
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        <name>Eastman Chemical Co.</name>
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        <name>Regency Centers, L.P.</name>
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        <name>Hyatt Hotels Corp.</name>
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        <name>HF Sinclair Corp.</name>
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        <name>Linde Inc.</name>
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        <name>Cigna Group (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ingersoll Rand Inc.</name>
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        <name>Xylem Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
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        <name>Agilent Technologies, Inc.</name>
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        <name>NVIDIA Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
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        <name>STERIS Irish FinCo Unlimited Co.</name>
        <lei>549300BRDKZ1HFI2J358</lei>
        <title>STERIS Irish FinCo Unlimited Co.</title>
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        <invCountry>IE</invCountry>

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          <maturityDt>2031-03-15</maturityDt>
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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-02-12</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Peachtree Corners Funding Trust II</name>
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        <name>Automatic Data Processing, Inc.</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
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        <name>Cummins Inc.</name>
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        <name>Waste Management, Inc.</name>
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        <name>Accenture Capital Inc.</name>
        <lei>254900FRO0P7RIINYT25</lei>
        <title>Accenture Capital Inc.</title>
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        <name>Nordson Corp.</name>
        <lei>14OS6Q5N55N95WM84M53</lei>
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        <name>Brunswick Corp.</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>Brunswick Corp.</title>
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        <name>NOV Inc.</name>
        <lei>549300EHF3IW1AR6U008</lei>
        <title>NOV Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Southwest Gas Corp.</name>
        <lei>OQQR1IQTGBKH0UR88X59</lei>
        <title>Southwest Gas Corp.</title>
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        <name>Edwards Lifesciences Corp.</name>
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        <name>EQT Corp.</name>
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        <name>Eagle Materials Inc.</name>
        <lei>529900KRXRGXL61SG039</lei>
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        <name>Molson Coors Beverage Co.</name>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Church &amp; Dwight Co., Inc.</name>
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        <name>Hartford Insurance Group, Inc. (The)</name>
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        <name>Apple Inc.</name>
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        <name>Autodesk, Inc.</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Tapestry, Inc.</name>
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        <name>Smurfit Kappa Treasury Unlimited Co.</name>
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        <name>Republic Services, Inc.</name>
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        <name>ONEOK, Inc.</name>
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        <name>International Business Machines Corp.</name>
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        <name>Alphabet Inc.</name>
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        <name>IBM International Capital Pte. Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Marathon Petroleum Corp.</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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      <invstOrSec>
        <name>Choice Hotels International, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nordson Corp.</name>
        <lei>14OS6Q5N55N95WM84M53</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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        <name>Kinder Morgan, Inc.</name>
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        <title>Kinder Morgan, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</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>2029-02-14</maturityDt>
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          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
        <cusip>90353TAN0</cusip>
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        <curCd>USD</curCd>
        <valUSD>161894.82000000</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>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCT6</cusip>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316320.70000000</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>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <name>Coca-Cola Co. (The)</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co. (The)</title>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279461.62000000</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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          <couponKind>Fixed</couponKind>
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        <name>Globe Life Inc.</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>Globe Life Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-15</maturityDt>
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          <annualizedRt>4.55000000</annualizedRt>
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        <name>Hershey Co. (The)</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Co. (The)</title>
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        <valUSD>109952.98000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-24</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>Omnicom Group Inc.</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group Inc.</title>
        <cusip>681919BD7</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CVS Health Corp.</name>
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        <name>Otis Worldwide Corp.</name>
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        <name>NorthWestern Corp.</name>
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        <name>Invesco Private Government Fund</name>
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        <name>MasTec, Inc.</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MasTec, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Mastercard Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard Inc.</title>
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        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
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        <name>Ameren Corp.</name>
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        <name>Cardinal Health, Inc.</name>
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        <name>American International Group, Inc.</name>
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        <name>Visa Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MSCI Inc.</name>
        <lei>549300HTIN2PD78UB763</lei>
        <title>MSCI Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Energy Generation, LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.60000000</annualizedRt>
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        <name>Arizona Public Service Co.</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>Arizona Public Service Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-01</maturityDt>
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        <name>Dell International LLC / EMC Corp.</name>
        <lei>254900ZARLSVK41DKO78</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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        <name>Elevance Health, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fortive Corp.</name>
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        <name>Ross Stores, Inc.</name>
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        <name>Capital One Financial Corp.</name>
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        <name>Eli Lilly and Co.</name>
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        <name>Estee Lauder Cos. Inc. (The)</name>
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        <name>Wabtec Corp.</name>
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        <name>Waste Management, Inc.</name>
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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>Evergy Kansas Central, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Energy Generation, LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-01</maturityDt>
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      <invstOrSec>
        <name>Exelon Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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      <invstOrSec>
        <name>CSX Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Tractor Supply Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
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      <invstOrSec>
        <name>Wabtec Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-11</maturityDt>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-23</maturityDt>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-26</maturityDt>
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        <name>Laboratory Corp. of America Holdings</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LPL Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Service Co. of Colorado</name>
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        <name>Lennar Corp.</name>
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        <name>eBay Inc.</name>
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        <name>Weyerhaeuser Co.</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
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        <name>Concentrix Corp.</name>
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        <title>Concentrix Corp.</title>
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        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <name>Otis Worldwide Corp.</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-02-15</maturityDt>
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        <name>Mattel, Inc.</name>
        <lei>549300VELLG24KHTJ564</lei>
        <title>Mattel, Inc.</title>
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        <balance>100000.00000000</balance>
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        <name>Flowers Foods, Inc.</name>
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        <name>Wachovia Corp.</name>
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        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
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          <maturityDt>2033-07-15</maturityDt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Corebridge Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-05</maturityDt>
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        <name>Leidos, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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          <annualizedRt>2.30000000</annualizedRt>
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        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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        <name>Tapestry, Inc.</name>
        <lei>549300LJNVY5SW3VTN33</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-11</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>Ally Financial Inc.</name>
        <lei>549300JBN1OSM8YNAI90</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-02</maturityDt>
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        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-21</maturityDt>
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        <name>J.B. Hunt Transport Services, Inc.</name>
        <lei>549300XCD1MPI1C5GK90</lei>
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        <name>ERP Operating L.P.</name>
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        <name>Coca-Cola Co. (The)</name>
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        <name>Tyco Electronics Group S.A.</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <name>Keybank N.A.</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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        <name>Keysight Technologies, Inc.</name>
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        <name>Analog Devices, Inc.</name>
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        <name>Home Depot, Inc. (The)</name>
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        <name>Toll Brothers Finance Corp.</name>
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        <name>Salesforce, Inc.</name>
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        <name>PayPal Holdings, Inc.</name>
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        <name>DTE Energy Co.</name>
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          <maturityDt>2034-06-01</maturityDt>
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        <name>Ally Financial Inc.</name>
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        <name>Darden Restaurants, Inc.</name>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>Broadcom Inc.</name>
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        <name>Airbnb, Inc.</name>
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        <name>RTX Corp.</name>
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        <name>Estee Lauder Cos. Inc. (The)</name>
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        <name>Flowers Foods, Inc.</name>
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        <name>Principal Financial Group, Inc.</name>
        <lei>CUMYEZJOAF02RYZ1JJ85</lei>
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        <name>Principal Financial Group, Inc.</name>
        <lei>CUMYEZJOAF02RYZ1JJ85</lei>
        <title>Principal Financial Group, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Revvity, Inc.</name>
        <lei>549300IKL1SDPFI7N655</lei>
        <title>Revvity, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-15</maturityDt>
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          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Caterpillar Inc.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>Caterpillar Inc.</title>
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          <isin value="US149123CL34"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>199604.28000000</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>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Camden Property Trust</name>
        <lei>5493002MYX22OHYJBD89</lei>
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          <isin value="US133131BC55"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57169.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ingredion Inc.</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>Ingredion Inc.</title>
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          <isin value="US457187AC60"/>
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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>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Tool Works Inc.</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>Illinois Tool Works Inc.</title>
        <cusip>452308AX7</cusip>
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        <balance>324000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>323032.98000000</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>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cigna Group (The)</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Group (The)</title>
        <cusip>125523CZ1</cusip>
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          <isin value="US125523CZ18"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>273688.69000000</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>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ONE Gas, Inc.</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE Gas, Inc.</title>
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          <isin value="US68235PAN87"/>
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        <balance>100000.00000000</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>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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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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        <balance>367000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>366185.48000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-20</maturityDt>
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          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>UDR, Inc.</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR, 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>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Lowe`s Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe`s Cos., Inc.</title>
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        <balance>230000.00000000</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>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Broadridge Financial Solutions, Inc.</name>
        <lei>549300KZDJZQ2YIHRC28</lei>
        <title>Broadridge Financial Solutions, Inc.</title>
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        <balance>60000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Travelers Property Casualty Corp.</name>
        <lei>N/A</lei>
        <title>Travelers Property Casualty Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>ConocoPhillips Co.</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>6.95000000</annualizedRt>
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        <name>Ameriprise Financial, Inc.</name>
        <lei>6ZLKQF7QB6JAEKQS5388</lei>
        <title>Ameriprise Financial, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Patterson-UTI Energy, Inc.</name>
        <lei>254900XGFBKIXD6G0697</lei>
        <title>Patterson-UTI Energy, 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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          <maturityDt>2036-05-15</maturityDt>
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        <name>Progressive Corp. (The)</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>Progressive Corp. (The)</title>
        <cusip>743315AV5</cusip>
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        <balance>175000.00000000</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>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dell International LLC / EMC Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Water Capital Corp.</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>American Water Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-01</maturityDt>
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      <invstOrSec>
        <name>PVH Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-13</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
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          <isin value="US512807AV02"/>
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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>2030-06-15</maturityDt>
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          <annualizedRt>1.90000000</annualizedRt>
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      <invstOrSec>
        <name>Lear Corp.</name>
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        <title>Lear Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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      <invstOrSec>
        <name>Caterpillar Inc.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>Caterpillar Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-09</maturityDt>
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          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>Ecolab Inc.</name>
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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>2033-06-15</maturityDt>
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        <name>Southern California Edison Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>Narragansett Electric Co. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Equinix, Inc.</name>
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        <name>Five Corners Funding Trust II</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>Carlisle Cos. Inc.</name>
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        <name>Willis North America Inc.</name>
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        <name>Huntington Ingalls Industries, Inc.</name>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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        <name>Meritage Homes Corp.</name>
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        <title>Meritage Homes Corp.</title>
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        <name>Biogen Inc.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>Biogen Inc.</title>
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        <name>Thermo Fisher Scientific Inc.</name>
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      <invstOrSec>
        <name>Hormel Foods Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Owens Corning</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-15</maturityDt>
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        <name>Southern Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NVR, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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        <name>Ralph Lauren Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
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          <annualizedRt>2.95000000</annualizedRt>
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        <name>McCormick &amp; Co., Inc.</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>McCormick &amp; Co., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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        <name>Primerica, Inc.</name>
        <lei>254900621R686KJR7022</lei>
        <title>Primerica, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-19</maturityDt>
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          <annualizedRt>2.80000000</annualizedRt>
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        <name>Brown &amp; Brown, Inc.</name>
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        <title>Brown &amp; Brown, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-23</maturityDt>
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          <annualizedRt>5.55000000</annualizedRt>
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        <name>Trimble Inc.</name>
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        <title>Trimble Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
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          <annualizedRt>6.10000000</annualizedRt>
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        <name>Leggett &amp; Platt, Inc.</name>
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        <name>Cousins Properties L.P.</name>
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        <name>Chubb INA Holdings LLC</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
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        <name>AutoZone, Inc.</name>
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        <name>Bunge Ltd. Finance Corp.</name>
        <lei>549300QHC068L40NNM71</lei>
        <title>Bunge Ltd. Finance Corp.</title>
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        <name>Equifax Inc.</name>
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        <title>Equifax Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Arrow Electronics, Inc.</name>
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        <title>Arrow Electronics, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ServiceNow, Inc.</name>
        <lei>549300HJTQM36M0E1G39</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>1.40000000</annualizedRt>
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      <invstOrSec>
        <name>Marvell Technology, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
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      <invstOrSec>
        <name>Nucor Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-01</maturityDt>
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        <name>Schlumberger Investment S.A.</name>
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        <title>Schlumberger Investment S.A.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-07</maturityDt>
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        <name>Sabra Health Care L.P.</name>
        <lei>549300OVKLRFSIQG0H81</lei>
        <title>Sabra Health Care L.P.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <name>D.R. Horton, Inc.</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>D.R. Horton, Inc.</title>
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        <valUSD>140129.57000000</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>2027-10-15</maturityDt>
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          <annualizedRt>1.40000000</annualizedRt>
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        <name>Nasdaq, Inc.</name>
        <lei>549300L8X1Q78ERXFD06</lei>
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        <valUSD>80844.66000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-15</maturityDt>
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          <annualizedRt>5.55000000</annualizedRt>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-15</maturityDt>
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        <name>Take-Two Interactive Software, Inc.</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>Take-Two Interactive Software, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-14</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Ameriprise Financial, Inc.</name>
        <lei>6ZLKQF7QB6JAEKQS5388</lei>
        <title>Ameriprise Financial, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-13</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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        <name>Booking Holdings Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>Costco Wholesale Corp.</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-20</maturityDt>
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          <annualizedRt>1.60000000</annualizedRt>
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        <name>AES Corp. (The)</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp. (The)</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-01-15</maturityDt>
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          <annualizedRt>2.45000000</annualizedRt>
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        <name>Citizens Financial Group, Inc.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group, Inc.</title>
        <cusip>174610AT2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
        <cusip>64110LAV8</cusip>
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        <balance>175000.00000000</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>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>Dow Chemical Co. (The)</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
        <title>Dow Chemical Co. (The)</title>
        <cusip>260543DC4</cusip>
        <identifiers>
          <isin value="US260543DC49"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176532.47000000</valUSD>
        <pctVal>0.142442687018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</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>Arrow Electronics, Inc.</name>
        <lei>549300YNNLBXT8N8R512</lei>
        <title>Arrow Electronics, Inc.</title>
        <cusip>04273WAC5</cusip>
        <identifiers>
          <isin value="US04273WAC55"/>
        </identifiers>
        <balance>115000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100726.81000000</valUSD>
        <pctVal>0.081275685267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</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>BlackRock Finance, Inc.</name>
        <lei>549300LRIF3NWCU26A80</lei>
        <title>BlackRock Finance, Inc.</title>
        <cusip>09247XAR2</cusip>
        <identifiers>
          <isin value="US09247XAR26"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177093.16000000</valUSD>
        <pctVal>0.142895103450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</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>CNO Financial Group, Inc.</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO Financial Group, Inc.</title>
        <cusip>12621EAL7</cusip>
        <identifiers>
          <isin value="US12621EAL74"/>
        </identifiers>
        <balance>53000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52943.15000000</valUSD>
        <pctVal>0.042719418955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Archer-Daniels-Midland Co.</name>
        <lei>549300LO13MQ9HYSTR83</lei>
        <title>Archer-Daniels-Midland Co.</title>
        <cusip>039482AD6</cusip>
        <identifiers>
          <isin value="US039482AD67"/>
        </identifiers>
        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157400.03000000</valUSD>
        <pctVal>0.127004868905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc.</title>
        <cusip>92343VGN8</cusip>
        <identifiers>
          <isin value="US92343VGN82"/>
        </identifiers>
        <balance>436000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>377246.72000000</valUSD>
        <pctVal>0.304397465608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35500000</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>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BV8</cusip>
        <identifiers>
          <isin value="US871829BV88"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>206265.17000000</valUSD>
        <pctVal>0.166433773079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Amcor Flexibles North America, Inc.</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
        <title>Amcor Flexibles North America, Inc.</title>
        <cusip>02344AAA6</cusip>
        <identifiers>
          <isin value="US02344AAA60"/>
        </identifiers>
        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107781.08000000</valUSD>
        <pctVal>0.086967721263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.69000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco Exchange-Traded Fund Trust II</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
