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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TEXAS INSTRUMENTS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TWDC ENTERPRISES 18 CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-01</maturityDt>
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        <name>ELEVANCE HEALTH INC</name>
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          <maturityDt>2053-06-01</maturityDt>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>T 2.375 11/15/49</title>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>1</fairValLevel>
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          <maturityDt>2049-11-15</maturityDt>
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        <curCd>USD</curCd>
        <valUSD>193181.80000000</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AMPHENOL CORP</name>
        <lei>549300D3L3G0R4U4VT04</lei>
        <title>APH 2.8 02/15/30</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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        <name>AMERICA MOVIL SAB DE CV</name>
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        <title>AMXLMM 4.7 07/21/32</title>
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        <name>SABINE PASS LIQUEFACTION LLC</name>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>ALPHABET INC</name>
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        <title>GOOGL 2.25 08/15/60</title>
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        <name>EQUINOR ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>EQNR 2.375 05/22/30</title>
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        <name>VIRGINIA ELECTRIC &amp; POWER COMPANY</name>
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        <name>UNITEDHEALTH GROUP INC</name>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <title>FR SD8237</title>
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        <name>TELEDYNE TECHNOLOGIES INC</name>
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        <title>TDY 2.25 04/01/28</title>
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        <name>HESS CORP</name>
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        <name>FORD MOTOR CREDIT COMPANY LLC</name>
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        <name>MORGAN STANLEY PRIVATE BANK NA</name>
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        <name>PROGRESSIVE CORP (THE)</name>
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        <name>PFIZER INVESTMENT ENTERPRISES PTE LTD</name>
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        <name>ARTHUR J. GALLAGHER &amp; COMPANY</name>
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        <title>AJG 3.5 05/20/51</title>
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        <name>ONEOK INC</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>TAPESTRY INC</name>
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        <name>ENBRIDGE INC</name>
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        <title>ENBCN 5.5 12/01/46</title>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <name>URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS</name>
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        <name>TEXTRON INC</name>
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        <name>SEMPRA</name>
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        <name>ELI LILLY &amp; COMPANY</name>
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        <name>SIMON PROPERTY GROUP LP</name>
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        <name>JP MORGAN CHASE &amp; COMPANY</name>
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        <name>KLA CORP</name>
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        <name>PNC BANK NA</name>
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        <name>KROGER COMPANY (THE)</name>
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        <name>ELEVANCE HEALTH INC</name>
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        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
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        <name>TOYOTA MOTOR CREDIT CORP</name>
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        <name>PFIZER INVESTMENT ENTERPRISES PTE LTD</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>HONEYWELL INTERNATIONAL INC</name>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
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        <name>JOHN DEERE CAPITAL CORP</name>
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        <name>JP MORGAN CHASE &amp; COMPANY</name>
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        <name>NASDAQ INC</name>
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          <maturityDt>2028-06-28</maturityDt>
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        <name>PETROLEOS MEXICANOS SA DE CV</name>
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        <title>PEMEX 10 02/07/33</title>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>BROADCOM INC</name>
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        <title>AVGO 3.187 11/15/36 144A</title>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>T 2 08/15/51</title>
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        <name>JOHNSON CONTROLS INTERNATIONAL PLC</name>
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        <title>JCI 4.5 02/15/47</title>
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        <name>ALTRIA GROUP INC</name>
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        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
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        <name>CVS HEALTH CORP</name>
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        <title>CVS 4.3 03/25/28</title>
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        <name>WISCONSIN PUBLIC SERVICE CORP</name>
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        <title>WEC 4.55 12/01/29</title>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>T 0.5 10/31/27</title>
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        <name>MORGAN STANLEY</name>
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        <name>OVINTIV INC</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>KYNDRYL HOLDINGS INC</name>
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        <name>CITIGROUP INC</name>
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        <name>CITIGROUP INC</name>
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        <name>VALERO ENERGY CORP</name>
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        <name>DEERE &amp; COMPANY</name>
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        <name>KYNDRYL HOLDINGS INC</name>
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        <name>SEMPRA</name>
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        <name>CENOVUS ENERGY INC</name>
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        <name>HSBC HOLDINGS PLC</name>
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        <name>URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>ENTERPRISE PRODUCTS OPERATING LLC</name>
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        <name>NORTHROP GRUMMAN CORP</name>
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        <name>MERCK &amp; COMPANY INC</name>
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        <name>CHARLES SCHWAB CORP (THE)</name>
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        <name>BP CAPITAL MARKETS AMERICA INC</name>
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        <name>ARES MANAGEMENT CORP</name>
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        <name>SAUDI ARABIA, KINGDOM OF</name>
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        <name>ELI LILLY &amp; COMPANY</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>SIMON PROPERTY GROUP LP</name>
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        <name>NORTHERN TRUST CORP</name>
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        <name>AMAZON.COM INC</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMZN 4.95 12/05/44</title>
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        <name>URUGUAY, REPUBLICA ORIENTAL DEL - MINISTERIO DE ECONOMIA Y FINANZAS</name>
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        <name>PLAINS ALL AMERICAN PIPELINE LP</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>PECO ENERGY COMPANY</name>
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        <name>BARCLAYS PLC</name>
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        <name>COLOMBIA, REPUBLIC OF - MINISTERO DE HACIENDA Y CREDITO PUBLICO</name>
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        <name>INTERNATIONAL BUSINESS MACHINES CORP</name>
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        <name>COCA-COLA COMPANY (THE)</name>
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        <name>OTIS WORLDWIDE CORP</name>
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        <name>WALT DISNEY COMPANY (THE)</name>
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        <name>REALTY INCOME CORP</name>
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        <name>AMGEN INC</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
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        <name>SIMON PROPERTY GROUP LP</name>
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        <title>CVX 4.405 02/26/27</title>
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        <name>CHARLES SCHWAB CORP (THE)</name>
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        <name>TAKEDA PHARMACEUTICAL COMPANY LTD</name>
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        <name>WALMART INC</name>
        <lei>Y87794H0US1R65VBXU25</lei>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>QUEBEC, PROVINCE OF - DIRECTION DE L'EMISSION DES EMPRUNTS MINISTRE DES FINANCES</name>
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        <name>MASTERCARD INC</name>
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        <name>HSBC HOLDINGS PLC</name>
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        <name>GENERAL MOTORS COMPANY</name>
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        <name>PATTERSON-UTI ENERGY INC</name>
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        <name>OTIS WORLDWIDE CORP</name>
        <lei>549300ZLBKR8VSU25153</lei>
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        <name>DUKE ENERGY CORP</name>
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        <name>AMERICAN INTERNATIONAL GROUP INC</name>
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        <name>MYLAN INC</name>
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        <title>VTRS 5.4 11/29/43</title>
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        <name>CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATION OPERATING CAPITAL CORP</name>
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        <name>TRANSCONTINENTAL GAS PIPELINE COMPANY LLC</name>
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        <title>WMB 3.95 05/15/50</title>
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        <name>HCA INC</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA 5.625 09/01/28</title>
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        <name>EXTRA SPACE STORAGE LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WALT DISNEY COMPANY (THE)</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>GLP CAPITAL LP / GLP FINANCING II INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VICI PROPERTIES LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
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        <name>HCA INC</name>
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        <balance>40000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-06-15</maturityDt>
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        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
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        <title>HPE 6.35 10/15/45</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-15</maturityDt>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>FN MA3972</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
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        <name>EBAY INC</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>EBAY 3.65 05/10/51</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-05-10</maturityDt>
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        <name>PEPSICO INC</name>
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        <title>PEP 4.6 07/17/45</title>
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        <balance>44000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39126.52000000</valUSD>
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          <maturityDt>2045-07-17</maturityDt>
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        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
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        <title>GM 5.45 01/08/36</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MASTERCARD INC</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MA 3.3 03/26/27</title>
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        <balance>15000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-26</maturityDt>
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        <name>AMERICAN INTERNATIONAL GROUP INC</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>AIG 3.4 06/30/30</title>
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        <name>BERKSHIRE HATHAWAY FINANCE CORP</name>
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        <title>BRK 4.2 08/15/48</title>
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        <name>AT&amp;T INC</name>
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        <title>T 3.55 09/15/55</title>
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        <name>FORD MOTOR CO</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>F 3.25 02/12/32</title>
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        <name>PHILIPPINES, REPUBLIC OF - DEPARTMENT OF FINANCE</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>PHILIP 2.457 05/05/30</title>
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        <fairValLevel>2</fairValLevel>
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        <name>VOYA FINANCIAL INC</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>VOYA V4.7 01/23/48</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>COCA-COLA COMPANY (THE)</name>
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        <name>CHEVRON USA INC</name>
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        <name>VIRGINIA ELECTRIC &amp; POWER COMPANY</name>
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        <name>WELLTOWER OP LLC</name>
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        <name>PLAINS ALL AMERICAN PIPELINE LP</name>
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        <name>CISCO SYSTEMS INC</name>
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        <name>WASTE MANAGEMENT INC</name>
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        <title>WM 4.15 07/15/49</title>
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        <name>CITIGROUP INC</name>
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        <name>APOLLO GLOBAL MANAGEMENT INC</name>
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        <name>MPLX LP</name>
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        <name>NATWEST GROUP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NWG V6.475 06/01/34</title>
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        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VOD 4.375 02/19/43</title>
        <cusip>92857WBD1</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>EMERSON ELECTRIC COMPANY</name>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <name>COCA-COLA COMPANY (THE)</name>
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        <name>ONCOR ELECTRIC DELIVERY COMPANY LLC</name>
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <name>Fnma Pass-Thru I</name>
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        <name>DUKE ENERGY PROGRESS LLC</name>
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        <name>HOME DEPOT INC (THE)</name>
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        <name>TOYOTA MOTOR CORP</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>BARCLAYS PLC</name>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <name>WELLTOWER OP LLC</name>
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        <title>WELL 4.25 04/15/28</title>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>G2 MA8347</title>
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        <name>DUKE ENERGY PROGRESS LLC</name>
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        <title>DUK 3.45 03/15/29</title>
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        <name>CIGNA GROUP (THE)</name>
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        <title>CI 4.375 10/15/28</title>
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        <name>RPM INTERNATIONAL INC</name>
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        <name>TEXAS INSTRUMENTS INC</name>
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        <name>BOEING COMPANY (THE)</name>
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        <title>BA 3.65 03/01/47</title>
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        <name>PLAINS ALL AMERICAN PIPELINE LP</name>
        <lei>5521FA2ITF25TVH63740</lei>
        <title>PAA 3.55 12/15/29</title>
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          <maturityDt>2029-12-15</maturityDt>
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        <name>JOHN DEERE CAPITAL CORP</name>
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        <name>BANK OF AMERICA CORP</name>
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        <name>BANK OF NEW YORK MELLON CORP (THE)</name>
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        <name>PROCTER &amp; GAMBLE COMPANY (THE)</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>PUBLIC SERVICE COMPANY OF COLORADO</name>
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        <name>BOEING COMPANY (THE)</name>
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        <name>ESSENTIAL UTILITIES INC</name>
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        <name>US BANCORP</name>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <name>NATWEST GROUP PLC</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>RIO TINTO ALCAN INC</name>
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        <name>DH EUROPE FINANCE II SARL</name>
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        <name>GE CAPITAL INTERNATIONAL FUNDING COMPANY ULC</name>
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        <name>COMCAST CORP</name>
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        <name>AMGEN INC</name>
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        <name>ABU DHABI, EMIRATES OF - DEPARTMENT OF FINANCE</name>
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        <name>ASTRAZENECA FINANCE LLC</name>
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        <name>EBAY INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ORIX CORP</name>
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        <name>CHILE, REPUBLIC OF - MINISTRY OF FINANCE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL HOME LOAN BANKS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STATE STREET CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC</name>
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        <name>GENERAL MOTORS COMPANY</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GM 6.8 10/01/27</title>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>T 0.875 11/15/30</title>
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        <name>POLAND, REPUBLIC OF - STATE TREASURY</name>
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        <name>PROCTER &amp; GAMBLE COMPANY (THE)</name>
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        <name>GENERAL MOTORS COMPANY</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GM 5.35 04/15/28</title>
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        <name>ENERGY TRANSFER LP</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>ERP OPERATING LP</name>
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        <title>EQR 3.5 03/01/28</title>
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        <name>ALIBABA GROUP HOLDING LTD</name>
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        <name>PANAMA, REPUBLIC OF - MINISTRY OF PLANNING AND ECONOMIC POLICY</name>
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        <title>PANAMA 6.7 01/26/36</title>
        <cusip>698299AW4</cusip>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
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        <name>NNN REIT INC</name>
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        <name>NETAPP INC</name>
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        <name>KINDER MORGAN ENERGY PARTNERS LP</name>
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        <name>STARBUCKS CORP</name>
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        <name>SANDS CHINA LTD</name>
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        <name>JOHNSON &amp; JOHNSON</name>
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        <name>AMGEN INC</name>
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        <name>COCA-COLA COMPANY (THE)</name>
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        <name>LOUISVILLE GAS AND ELECTRIC COMPANY</name>
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        <name>ORACLE CORP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-03</maturityDt>
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      <invstOrSec>
        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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          <isin value="US21H0626695"/>
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        <curCd>USD</curCd>
        <valUSD>1041171.88000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>T 3 05/15/42</title>
        <cusip>912810QW1</cusip>
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          <isin value="US912810QW18"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>792499.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ET 5.5 06/01/27 *</title>
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          <isin value="US29278NAN30"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25239.28000000</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>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>MIDAMERICAN ENERGY COMPANY</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>BRKHEC 5.3 02/01/55</title>
        <cusip>595620AZ8</cusip>
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          <isin value="US595620AZ81"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93781.60000000</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>2055-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <name>ORIX CORP</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX 4.65 09/10/29</title>
        <cusip>686330AS0</cusip>
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          <isin value="US686330AS05"/>
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        <balance>94000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94236.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
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      <invstOrSec>
        <name>SABRA HEALTH CARE LP</name>
        <lei>549300OVKLRFSIQG0H81</lei>
        <title>SBRA 3.2 12/01/31</title>
        <cusip>78574MAA1</cusip>
        <identifiers>
          <isin value="US78574MAA18"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90781.80000000</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHILE, REPUBLIC OF - MINISTRY OF FINANCE</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>CHILE 2.45 01/31/31</title>
        <cusip>168863DP0</cusip>
        <identifiers>
          <isin value="US168863DP09"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182117.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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        <name>CARDINAL HEALTH INC</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CAH 3.41 06/15/27</title>
        <cusip>14149YBJ6</cusip>
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          <isin value="US14149YBJ64"/>
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        <balance>188000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>186329.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.41000000</annualizedRt>
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        <name>PNC FINANCIAL SERVICES GROUP INC (THE)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC V5.575 01/29/36</title>
        <cusip>693475CC7</cusip>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15378.17000000</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>2036-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.57500000</annualizedRt>
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        <name>EQUINIX INC</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>EQIX 3.9 04/15/32</title>
        <cusip>29444UBU9</cusip>
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        <balance>82000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77876.43000000</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>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <name>ERP OPERATING LP</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
        <title>EQR 4.5 06/01/45</title>
        <cusip>26884ABE2</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86190.40000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>INGERSOLL RAND INC</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>IR 5.176 06/15/29</title>
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        <balance>90000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.17600000</annualizedRt>
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        <name>AMGEN INC</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGN 4.4 02/22/62</title>
        <cusip>031162DG2</cusip>
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        <balance>100000.00000000</balance>
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        <valUSD>78429.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <name>EMERSON ELECTRIC COMPANY</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMR 1.95 10/15/30</title>
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        <balance>45000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>NEVADA POWER COMPANY</name>
        <lei>MJZFGXRJ52U8U4MKJ519</lei>
        <title>BRKHEC 5.45 05/15/41</title>
        <cusip>641423CA4</cusip>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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        <name>KIMBERLY CLARK CORP</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>KMB 6.625 08/01/37</title>
        <cusip>494368BC6</cusip>
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          <isin value="US494368BC63"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>142617.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>HSBC HOLDINGS PLC</name>
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        <name>UNIVERSITY OF CHICAGO (THE)</name>
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        <name>HOME DEPOT INC (THE)</name>
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        <invCountry>CA</invCountry>
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        <name>XYLEM INC</name>
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        <name>LABORATORY CORP OF AMERICA HOLDINGS</name>
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        <name>ARIZONA PUBLIC SERVICE COMPANY</name>
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        <name>NISOURCE INC</name>
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        <name>AMAZON.COM INC</name>
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        <name>INTEL CORP</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>STARBUCKS CORP</name>
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        <name>ING GROEP NV</name>
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        <name>ECOLAB INC</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>INVITATION HOMES OPERATING PARTNERSHIP LP</name>
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        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
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        <name>REALTY INCOME CORP</name>
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        <name>FIFTH THIRD BANCORP</name>
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        <name>INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE</name>
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        <name>DOMINION ENERGY INC</name>
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        <name>SHELL FINANCE US INC</name>
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        <name>ABBVIE INC</name>
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        <name>JOHN DEERE CAPITAL CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BOEING COMPANY (THE)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RIO TINTO FINANCE (USA) PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOWE'S COMPANIES INC</name>
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        <name>KILROY REALTY LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>VORNADO REALTY LP</name>
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        <name>CGI INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLY FINANCIAL INC</name>
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        <name>ELI LILLY &amp; COMPANY</name>
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        <name>ARCHER DANIELS MIDLAND COMPANY</name>
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        <name>ISRAEL, STATE OF - MINISTRY OF FINANCE</name>
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        <name>CITIBANK NA</name>
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        <name>CONSOLIDATED EDISON COMPANY OF NEW YORK INC</name>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>ALIBABA GROUP HOLDING LTD</name>
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        <name>VMWARE LLC</name>
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        <name>EQUINOR ASA</name>
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        <name>INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE</name>
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        <name>PETROLEOS MEXICANOS SA DE CV</name>
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        <title>PEMEX 6.75 09/21/47</title>
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        <name>CORNING INC</name>
        <lei>549300X2937PB0CJ7I56</lei>
        <title>GLW 5.35 11/15/48</title>
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        <name>MIZUHO FINANCIAL GROUP INC</name>
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        <name>WISCONSIN ELECTRIC POWER COMPANY</name>
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        <name>REVVITY INC</name>
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        <name>NVIDIA CORP</name>
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        <name>NISOURCE INC</name>
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        <name>ONEOK INC</name>
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        <name>TOTALENERGIES CAPITAL INTERNATIONAL SA</name>
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        <name>BANK OF AMERICA CORP</name>
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        <name>GENERAL MOTORS COMPANY</name>
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        <name>ESTEE LAUDER COMPANIES INC (THE)</name>
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        <name>INTEL CORP</name>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>PROLOGIS LP</name>
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        <name>CITIGROUP INC</name>
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        <name>INDONESIA, REPUBLIC OF - MINISTRY OF FINANCE</name>
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        <name>CITIGROUP INC</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>PETROLEOS MEXICANOS SA DE CV</name>
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        <name>J.M. SMUCKER COMPANY (THE)</name>
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        <name>AMAZON.COM INC</name>
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        <name>JACOBS ENGINEERING GROUP INC</name>
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        <name>EXPORT-IMPORT BANK OF KOREA (THE)</name>
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        <name>KIMCO REALTY OP LLC</name>
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        <name>AMAZON.COM INC</name>
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        <name>BANK OF NEW YORK MELLON CORP (THE)</name>
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        <name>ONEOK INC</name>
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        <name>CATERPILLAR INC</name>
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        <name>EXXON MOBIL CORP</name>
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        <name>CSX CORP</name>
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        <name>PARTNERRE FINANCE B LLC</name>
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        <name>KEYCORP</name>
        <lei>RKPI3RZGV1V1FJTH5T61</lei>
        <title>KEY V6.401 03/06/35</title>
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        <name>CNO FINANCIAL GROUP INC</name>
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        <name>ROYALTY PHARMA PLC</name>
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        <name>AMAZON.COM INC</name>
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        <name>APPLE INC</name>
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        <name>LENNAR CORP</name>
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        <name>ALEXANDRIA REAL ESTATE EQUITIES INC</name>
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        <name>WP CAREY INC</name>
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        <name>SHELL FINANCE US INC</name>
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      <invstOrSec>
        <name>CHARTER COMMUNICATIONS OPERATING LLC / CHARTER COMMUNICATION OPERATING CAPITAL CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GENERAL MOTORS FINANCIAL COMPANY INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BURLINGTON NORTHERN SANTA FE LLC</name>
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        <name>TOTALENERGIES CAPITAL USA LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COMCAST CORP</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITEDHEALTH GROUP INC</name>
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        <title>UNH 4.25 06/15/48</title>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN AIRLINES INC</name>
        <lei>N/A</lei>
        <title>AAL 3 10/15/28</title>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SIMON PROPERTY GROUP LP</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SPG 3.25 09/13/49</title>
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        <balance>163000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>PACIFICORP</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>BRKHEC 5.75 04/01/37</title>
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        <name>ALTRIA GROUP INC</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>MO 5.375 01/31/44</title>
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        <name>WALMART INC</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WMT 1.8 09/22/31</title>
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        <name>UNITED MEXICAN STATES - SECRETARIA DE HACIENDA Y CREDITO PUBLICO</name>
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        <name>CENTENE CORP</name>
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        <title>CNC 4.25 12/15/27</title>
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        <name>PEPSICO INC</name>
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        <title>PEP 4.65 02/15/53</title>
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        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VOD 4.25 09/17/50</title>
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        <name>TEXAS INSTRUMENTS INC</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TXN 1.75 05/04/30</title>
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        <name>VISA INC</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
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        <name>PLAINS ALL AMERICAN PIPELINE LP</name>
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        <name>HESS CORP</name>
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        <name>TRANSCANADA TRUST</name>
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        <name>ADOBE INC</name>
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        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BAC V4.244 04/24/38</title>
        <cusip>06051GGM5</cusip>
        <identifiers>
          <isin value="US06051GGM50"/>
        </identifiers>
        <balance>394000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>360982.21000000</valUSD>
        <pctVal>0.043925118217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24400000</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>BRIGHTHOUSE FINANCIAL INC</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BHF 5.625 05/15/30</title>
        <cusip>10922NAG8</cusip>
        <identifiers>
          <isin value="US10922NAG88"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40534.66000000</valUSD>
        <pctVal>0.004932347586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELEVANCE HEALTH INC</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELV 2.55 03/15/31</title>
        <cusip>036752AP8</cusip>
        <identifiers>
          <isin value="US036752AP88"/>
        </identifiers>
        <balance>92000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83364.97000000</valUSD>
        <pctVal>0.010144034971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</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>UNION PACIFIC CORP</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNP 4.5 01/20/33</title>
        <cusip>907818GB8</cusip>
        <identifiers>
          <isin value="US907818GB82"/>
        </identifiers>
        <balance>292000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290792.00000000</valUSD>
        <pctVal>0.035384217345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GILEAD SCIENCES INC</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILD 5.55 10/15/53</title>
        <cusip>375558CA9</cusip>
        <identifiers>
          <isin value="US375558CA99"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98556.00000000</valUSD>
        <pctVal>0.011992513290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</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>PEPSICO INC</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEP 4.8 07/17/34</title>
        <cusip>713448FY9</cusip>
        <identifiers>
          <isin value="US713448FY94"/>
        </identifiers>
        <balance>116000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>116249.40000000</valUSD>
        <pctVal>0.014145485556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TFC V4.916 07/28/33 MTN</title>
        <cusip>89788NAA8</cusip>
        <identifiers>
          <isin value="US89788NAA81"/>
        </identifiers>
        <balance>196000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192381.64000000</valUSD>
        <pctVal>0.023409425854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.91600000</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>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FN MA4325</title>
        <cusip>31418DYX4</cusip>
        <identifiers>
          <isin value="US31418DYX47"/>
        </identifiers>
        <balance>3453887.80030000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2783450.63000000</valUSD>
        <pctVal>0.338696463668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Goldman Sachs ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Allison Frachiolla</ncom:signature>
      <ncom:signerName>Allison Frachiolla</ncom:signerName>
      <ncom:title>Vice President Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
