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        <fairValLevel>2</fairValLevel>
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        <name>STERIS Irish FinCo. UnLtd Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Toll Brothers Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
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        <name>Stryker Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vulcan Materials Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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        <name>Enbridge, Inc.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Weyerhaeuser Co.</name>
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        <balance>479000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Suzano Austria GmbH</name>
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        <invCountry>AT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>KeyCorp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COPT Defense Properties LP</name>
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        <name>Ingersoll Rand, Inc.</name>
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        <name>Transcanada Trust</name>
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        <name>Tyco Electronics Group SA</name>
        <lei>C33G1C5SYE2YM95EE712</lei>
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        <invCountry>LU</invCountry>

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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>PacifiCorp</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Banco Santander SA</name>
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        <name>TJX Cos., Inc. (The)</name>
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        <name>Xylem, Inc.</name>
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        <name>Biogen, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
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        <name>Westpac Banking Corp.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-17</maturityDt>
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        <name>Vontier Corp.</name>
        <lei>549300VVSQLG4P5K4639</lei>
        <title>Vontier Corp.</title>
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        <name>Teledyne Technologies, Inc.</name>
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        <name>Targa Resources Partners LP</name>
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        <name>Lennar Corp.</name>
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        <name>Weyerhaeuser Co.</name>
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        <name>Accenture Capital, Inc.</name>
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        <name>DTE Energy Co.</name>
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        <name>NATIXIS NY</name>
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        <name>Western Midstream Operating LP</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>PepsiCo, Inc.</name>
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        <name>Primerica, Inc.</name>
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        <name>HSBC Holdings plc</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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        <name>Aon Corp.</name>
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        <name>CenterPoint Energy, Inc.</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>Kroger Co. (The)</name>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>VMware LLC</name>
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        <name>Hess Corp.</name>
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        <name>Invitation Homes Operating Partnership LP</name>
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        <name>Novartis Capital Corp.</name>
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        <name>Amcor Flexibles North America, Inc.</name>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-16</maturityDt>
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        <name>Autodesk, Inc.</name>
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        <name>S&amp;P Global, Inc.</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
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        <name>Flex Ltd.</name>
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        <invCountry>SG</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>AutoZone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
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        <name>Santander Holdings USA, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Manufacturers &amp; Traders Trust Co.</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>CubeSmart LP</name>
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        <name>Bank of Nova Scotia (The)</name>
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        <invCountry>CA</invCountry>
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        <name>Wintrust Financial Corp.</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>Wintrust Financial Corp.</title>
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      <invstOrSec>
        <name>MGIC Investment Corp.</name>
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        <name>Enbridge, Inc.</name>
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        <name>HSBC Holdings plc</name>
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        <name>AutoZone, Inc.</name>
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        <name>AutoZone, Inc.</name>
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        <name>Ecolab, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Ingersoll Rand, Inc.</name>
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        <name>Deutsche Bank AG</name>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Regal Rexnord Corp.</name>
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        <name>Western Midstream Operating LP</name>
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        <name>PacifiCorp</name>
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        <name>Atmos Energy Corp.</name>
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        <name>HP, Inc.</name>
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        <name>Synchrony Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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          <isin value="US780097BL47"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>431941.06000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-08</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Fox Corp.</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp.</title>
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          <isin value="US35137LAH87"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-25</maturityDt>
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          <annualizedRt>4.70900000</annualizedRt>
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      <invstOrSec>
        <name>Paychex, Inc.</name>
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        <title>Paychex, Inc.</title>
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          <isin value="US704326AB35"/>
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        <balance>450000.00000000</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>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ingersoll Rand, Inc.</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Ingersoll Rand, Inc.</title>
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          <isin value="US45687VAB27"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130592.74000000</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>2033-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GJL4</cusip>
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          <isin value="US06051GJL41"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>218022.79000000</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>2031-10-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.92200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
        <cusip>65473PAR6</cusip>
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          <isin value="US65473PAR64"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259057.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oaktree Specialty Lending Corp.</name>
        <lei>549300J6MGCEU5928620</lei>
        <title>Oaktree Specialty Lending Corp.</title>
        <cusip>67401PAE8</cusip>
        <identifiers>
          <isin value="US67401PAE88"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149619.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.34000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc.</title>
        <cusip>30303M8N5</cusip>
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          <isin value="US30303M8N52"/>
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        <balance>544000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>554157.98000000</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>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
        <cusip>09261HBX4</cusip>
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          <isin value="US09261HBX44"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506426.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
        <title>Coterra Energy, Inc.</title>
        <cusip>127097AG8</cusip>
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          <isin value="US127097AG80"/>
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        <balance>402000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>397133.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Leidos, Inc.</name>
        <lei>5493006I78VIN6J1BQ95</lei>
        <title>Leidos, Inc.</title>
        <cusip>52532XAH8</cusip>
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          <isin value="US52532XAH89"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262691.40000000</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>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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      <invstOrSec>
        <name>ServiceNow, Inc.</name>
        <lei>549300HJTQM36M0E1G39</lei>
        <title>ServiceNow, Inc.</title>
        <cusip>81762PAE2</cusip>
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          <isin value="US81762PAE25"/>
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        <balance>810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>699592.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.40000000</annualizedRt>
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      <invstOrSec>
        <name>Public Service Enterprise Group, Inc.</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group, Inc.</title>
        <cusip>744573AX4</cusip>
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          <isin value="US744573AX43"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>American Homes 4 Rent LP</name>
        <lei>549300N4PXZ37U8QKI55</lei>
        <title>American Homes 4 Rent LP</title>
        <cusip>02666TAA5</cusip>
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          <isin value="US02666TAA51"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>AXIS Specialty Finance LLC</name>
        <lei>N/A</lei>
        <title>AXIS Specialty Finance LLC</title>
        <cusip>05463HAB7</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97095.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Essential Properties LP</name>
        <lei>254900XX9FNFCDE1NX02</lei>
        <title>Essential Properties LP</title>
        <cusip>29670VAA7</cusip>
        <identifiers>
          <isin value="US29670VAA70"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222278.29000000</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>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>AEP Texas, Inc.</name>
        <lei>5493001L78U618KXNZ75</lei>
        <title>AEP Texas, Inc., Series E</title>
        <cusip>0010EPAF5</cusip>
        <identifiers>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54081.76000000</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>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.65000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Altria Group, Inc.</name>
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        <name>National Health Investors, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <name>Tanger Properties LP</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Suzano Austria GmbH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
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        <name>Essex Portfolio LP</name>
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        <name>Cincinnati Financial Corp.</name>
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        <name>Royal Bank of Canada</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>Carrier Global Corp.</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corp.</title>
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        <name>Regions Financial Corp.</name>
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        <name>Otis Worldwide Corp.</name>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>Jabil, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Capital One Financial Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Manulife Financial Corp.</name>
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        <name>Colgate-Palmolive Co.</name>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Huntsman International LLC</name>
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        <name>Citizens Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Zoetis, Inc.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>First-Citizens Bank &amp; Trust Co.</name>
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        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
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        <invCountry>GB</invCountry>
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        <name>L3Harris Technologies, Inc.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3Harris Technologies, Inc.</title>
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        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT, Inc.</title>
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        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
        <cusip>09261HBG1</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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        <name>Genuine Parts Co.</name>
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        <name>NNN REIT, Inc.</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Truist Financial Corp.</name>
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        <name>Costco Wholesale Corp.</name>
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        <name>American Express Co.</name>
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        <name>Blue Owl Credit Income Corp.</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Canadian Natural Resources Ltd.</name>
        <lei>549300T15RIMIKZC5Q38</lei>
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        <name>Cigna Group (The)</name>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <name>Hartford Insurance Group, Inc. (The)</name>
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        <name>CVS Health Corp.</name>
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        <name>Enstar Finance LLC</name>
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        <name>Qorvo, Inc.</name>
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        <name>Ross Stores, Inc.</name>
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          <maturityDt>2031-04-15</maturityDt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
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        <name>Willis North America, Inc.</name>
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          <maturityDt>2029-09-15</maturityDt>
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        <name>Fifth Third Bancorp</name>
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        <name>NetApp, Inc.</name>
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        <name>NiSource, Inc.</name>
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        <name>Mid-America Apartments LP</name>
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        <name>Mizuho Financial Group, Inc.</name>
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        <name>Otis Worldwide Corp.</name>
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        <name>DTE Energy Co.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Waste Connections, Inc.</name>
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        <name>International Business Machines Corp.</name>
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        <name>Genpact Luxembourg SARL</name>
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        <name>Flex Ltd.</name>
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        <name>Pepsico Singapore Financing I Pte. Ltd.</name>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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      <invstOrSec>
        <name>Adobe, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Shell Finance US, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Howmet Aerospace, Inc.</name>
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        <title>Howmet Aerospace, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sempra</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-01</maturityDt>
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          <annualizedRt>6.40000000</annualizedRt>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-15</maturityDt>
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        <name>CBRE Services, Inc.</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE Services, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-15</maturityDt>
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        <name>Cintas Corp. No. 2</name>
        <lei>549300QVUQTTKMTE0G41</lei>
        <title>Cintas Corp. No. 2</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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          <annualizedRt>3.70000000</annualizedRt>
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        <name>National Fuel Gas Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-24</maturityDt>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp.</title>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-25</maturityDt>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-20</maturityDt>
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        <name>Bank OZK</name>
        <lei>549300VYK2WBD7SST478</lei>
        <title>Bank OZK</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <name>Kite Realty Group LP</name>
        <lei>549300X6R2GYI8Y3OD81</lei>
        <title>Kite Realty Group LP</title>
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        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc., Series A-9</title>
        <cusip>026874DM6</cusip>
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        <name>Globe Life, Inc.</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>Globe Life, Inc.</title>
        <cusip>37959EAC6</cusip>
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        <balance>250000.00000000</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>2034-09-15</maturityDt>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
        <cusip>04316JAD1</cusip>
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          <isin value="US04316JAD19"/>
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        <balance>150000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Boardwalk Pipelines LP</name>
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        <name>Pepsico Singapore Financing I Pte. Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Financial Group, Inc.</name>
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      <invstOrSec>
        <name>Blue Owl Technology Finance Corp.</name>
        <lei>254900G5EZJSOD3UKL16</lei>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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        <balance>500000.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2084-05-26</maturityDt>
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      <invstOrSec>
        <name>Bank of Nova Scotia (The)</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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        <balance>50000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <balance>395000.00000000</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>2030-07-01</maturityDt>
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          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>Pioneer Natural Resources Co.</name>
        <lei>FY8JBF7CCL2VE4F1B628</lei>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EPR Properties</name>
        <lei>549300YSSXFHMPOWZ492</lei>
        <title>EPR Properties</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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        <name>Aflac, Inc.</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>Aflac, Inc.</title>
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      <invstOrSec>
        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
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        <name>Mizuho Financial Group, Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
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        <invCountry>JP</invCountry>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <name>Flowserve Corp.</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>Flowserve Corp.</title>
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        <name>Agree LP</name>
        <lei>549300DXY3G299V1BO77</lei>
        <title>Agree LP</title>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
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        <balance>102000.00000000</balance>
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        <valUSD>98667.76000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>Adobe, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Jacobs Engineering Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-18</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Transcanada Trust</name>
        <lei>549300Y0MFCAXLBWUV51</lei>
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          <isin value="US89356BAB45"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>798335.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2076-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
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        <title>Broadcom, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-23</maturityDt>
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        <name>IBM International Capital Pte. Ltd.</name>
        <lei>2549007KTXQQBYZO7485</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-05</maturityDt>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>Westinghouse Air Brake Technologies Corp.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-29</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.97200000</annualizedRt>
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      <invstOrSec>
        <name>M&amp;T Bank Corp.</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp.</title>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-16</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
        <title>Coterra Energy, 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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      <invstOrSec>
        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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          <maturityDt>2028-05-15</maturityDt>
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        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc.</title>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAL6</cusip>
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        <balance>825000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Brixmor Operating Partnership LP</name>
        <lei>549300CJHBL7JBUA6503</lei>
        <title>Brixmor Operating Partnership LP</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Marriott International, Inc.</name>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>PulteGroup, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>VICI Properties LP</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>HSBC Holdings plc</name>
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        <name>AppLovin Corp.</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>Ohio Power Co.</name>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>Blackstone Private Credit Fund</name>
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        <name>Autodesk, Inc.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
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        <name>Intuit, Inc.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc.</title>
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        <name>Trane Technologies Financing Ltd.</name>
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        <name>Essex Portfolio LP</name>
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        <name>Kimberly-Clark Corp.</name>
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        <name>Broadcom, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>Masco Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Mid-America Apartments LP</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
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          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PEE25"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-22</maturityDt>
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          <annualizedRt>5.57100000</annualizedRt>
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      <invstOrSec>
        <name>Rio Tinto Finance USA plc</name>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>Blue Owl Credit Income Corp.</title>
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          <isin value="US69120VBB62"/>
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        <curCd>USD</curCd>
        <valUSD>52933.11000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.95000000</annualizedRt>
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        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106317.94000000</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>2033-10-28</maturityDt>
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        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce</title>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>408890.22000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-13</maturityDt>
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          <annualizedRt>5.24500000</annualizedRt>
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        <name>Cardinal Health, Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>Cardinal Health, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>Targa Resources Corp.</name>
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        <balance>335000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>NatWest Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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      <invstOrSec>
        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <title>Marsh &amp; McLennan Cos., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Aon Corp.</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
        <title>Aon Corp.</title>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-22</maturityDt>
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      <invstOrSec>
        <name>Old Republic International Corp.</name>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-29</maturityDt>
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        <name>Unilever Capital Corp.</name>
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        <title>Unilever Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital One Financial Corp.</name>
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        <title>Capital One Financial Corp.</title>
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        <name>McKesson Corp.</name>
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        <title>McKesson Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-15</maturityDt>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <valUSD>151109.96000000</valUSD>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-20</maturityDt>
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        <name>Burlington Resources LLC</name>
        <lei>0FJ5X7MVCTSE8OEPQE56</lei>
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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>
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        <name>Enbridge, Inc.</name>
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        <title>Enbridge, Inc., Series 20-A</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American Tower Corp.</name>
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        <title>American Tower Corp.</title>
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        <name>US Bancorp</name>
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          <maturityDt>2029-02-01</maturityDt>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International, Inc., Series FF</title>
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        <name>Block Financial LLC</name>
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        <name>Broadcom, Inc.</name>
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        <title>Broadcom, Inc.</title>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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        <invCountry>CA</invCountry>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Host Hotels &amp; Resorts LP</name>
        <lei>FXB7X4WXVA8QPMNOGS12</lei>
        <title>Host Hotels &amp; Resorts LP</title>
        <cusip>44107TBD7</cusip>
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        <balance>100000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <name>OhioHealth Corp.</name>
        <lei>JGYGIL4QGKKPZU7C1D18</lei>
        <title>OhioHealth Corp.</title>
        <cusip>67777JAL2</cusip>
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        <balance>50000.00000000</balance>
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      <invstOrSec>
        <name>Black Hills Corp.</name>
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        <name>Avery Dennison Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Willis North America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hess Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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        <name>Coterra Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <curCd>USD</curCd>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-18</maturityDt>
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        <name>Manufacturers &amp; Traders Trust Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-27</maturityDt>
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        <name>Cboe Global Markets, Inc.</name>
        <lei>529900RLNSGA90UPEH54</lei>
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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>2030-12-15</maturityDt>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <name>TJX Cos., Inc. (The)</name>
        <lei>V167QI9I69W364E2DY52</lei>
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        <name>Aon Corp.</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
        <title>Aon Corp.</title>
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        <name>Carlisle Cos., Inc.</name>
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        <name>Stryker Corp.</name>
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        <name>Chevron Corp.</name>
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        <name>Diamondback Energy, Inc.</name>
        <lei>549300R22LSX6OHWEN64</lei>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</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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        <name>Tyco Electronics Group SA</name>
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        <name>Boardwalk Pipelines LP</name>
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        <name>OGE Energy Corp.</name>
        <lei>CE5OG6JPOZMDSA0LAQ19</lei>
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        <name>Stifel Financial Corp.</name>
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        <name>Westpac Banking Corp.</name>
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        <invCountry>AU</invCountry>
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        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>Cheniere Corpus Christi Holdings LLC</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>Cheniere Corpus Christi Holdings LLC</title>
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        <balance>475000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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        <name>Cadence Design Systems, Inc.</name>
        <lei>GCT7RXJOGLXPV0NXZY22</lei>
        <title>Cadence Design Systems, Inc.</title>
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        <balance>550000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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        <name>Targa Resources Partners LP</name>
        <lei>N/A</lei>
        <title>Targa Resources Partners LP</title>
        <cusip>87612BBU5</cusip>
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        <balance>400000.00000000</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>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Cenovus Energy, Inc.</name>
        <lei>549300F4XPHJ7NOSP309</lei>
        <title>Cenovus Energy, Inc.</title>
        <cusip>15135UAW9</cusip>
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        <balance>350000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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        <balance>500000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RELX Capital, Inc.</name>
        <lei>2R15C3RTKJN1RCBOV146</lei>
        <title>RELX Capital, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-22</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Nordson Corp.</name>
        <lei>14OS6Q5N55N95WM84M53</lei>
        <title>Nordson Corp.</title>
        <cusip>655663AC6</cusip>
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        <balance>250000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
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        <balance>650000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
        <cusip>03073EAU9</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>251130.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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        <name>Flowserve Corp.</name>
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        <name>Pioneer Natural Resources Co.</name>
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        <name>MPLX LP</name>
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        <name>Motorola Solutions, Inc.</name>
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        <name>Truist Financial Corp.</name>
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        <name>Western Midstream Operating LP</name>
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        <name>AppLovin Corp.</name>
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        <name>Masco Corp.</name>
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        <name>Athene Holding Ltd.</name>
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        <name>ING Groep NV</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Cisco Systems, Inc.</name>
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      <invstOrSec>
        <name>GATX Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alexandria Real Estate Equities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown Castle, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Franklin Resources, Inc.</name>
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        <name>Fifth Third Bancorp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WP Carey, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CDW LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Allegion US Holding Co., Inc.</name>
        <lei>5493002B66JX7J7SXI33</lei>
        <title>Allegion US Holding Co., Inc.</title>
        <cusip>01748TAC5</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>Adobe, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC Bank NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
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        <name>Kellanova</name>
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        <title>Kellanova</title>
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          <maturityDt>2026-04-01</maturityDt>
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        <name>Conopco, Inc.</name>
        <lei>549300DWD4D3B5EZJC04</lei>
        <title>Conopco, Inc.</title>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <invCountry>ES</invCountry>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-23</maturityDt>
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        <name>Conopco, Inc.</name>
        <lei>549300DWD4D3B5EZJC04</lei>
        <title>Conopco, Inc., Series E</title>
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        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International, Inc.</title>
        <cusip>609207AT2</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-04-13</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PAF3</cusip>
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        <balance>535000.00000000</balance>
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        <valUSD>526350.01000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-01</maturityDt>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
        <cusip>29250NAL9</cusip>
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        <balance>100000.00000000</balance>
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        <valUSD>99649.31000000</valUSD>
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        <name>Cardinal Health, Inc.</name>
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        <name>Stryker Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-11</maturityDt>
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        <name>Nasdaq, Inc.</name>
        <lei>549300L8X1Q78ERXFD06</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aon Corp.</name>
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        <title>Aon Corp.</title>
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        <name>HSBC Holdings plc</name>
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        <name>S&amp;P Global, Inc.</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P Global, Inc.</title>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <invCountry>US</invCountry>
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        <name>M&amp;T Bank Corp.</name>
        <lei>549300WYXDDBYRASEG81</lei>
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        <name>RELX Capital, Inc.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, 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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          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>Allegion US Holding Co., Inc.</name>
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        <title>Allegion US Holding Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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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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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CubeSmart LP</name>
        <lei>549300MPHKO3I3FJRA97</lei>
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          <isin value="US22966RAF38"/>
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        <fairValLevel>2</fairValLevel>
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        <name>nVent Finance Sarl</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
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      <invstOrSec>
        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>Parker-Hannifin Corp.</title>
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          <isin value="US701094AN45"/>
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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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      <invstOrSec>
        <name>Enstar Group Ltd.</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd.</title>
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          <isin value="US29359UAC36"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-01</maturityDt>
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          <annualizedRt>3.10000000</annualizedRt>
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        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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        <balance>243000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246288.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.07600000</annualizedRt>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA</title>
        <cusip>05946KAL5</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>257819.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.13800000</annualizedRt>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
        <cusip>494553AE0</cusip>
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          <isin value="US494553AE00"/>
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        <balance>1375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1389017.19000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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        <name>MPLX LP</name>
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        <title>MPLX LP</title>
        <cusip>55336VBX7</cusip>
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        <balance>125000.00000000</balance>
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        <valUSD>125128.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Rio Tinto Alcan, Inc.</name>
        <lei>2138007ZSQ7B17SKOX77</lei>
        <title>Rio Tinto Alcan, Inc.</title>
        <cusip>013716AQ8</cusip>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>342169.43000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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        <name>First Citizens BancShares, Inc.</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares, Inc.</title>
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        <balance>150000.00000000</balance>
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        <valUSD>150802.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.23100000</annualizedRt>
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      <invstOrSec>
        <name>RELX Capital, Inc.</name>
        <lei>2R15C3RTKJN1RCBOV146</lei>
        <title>RELX Capital, Inc.</title>
        <cusip>74949LAG7</cusip>
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        <valUSD>407383.15000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Equifax, Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
        <cusip>294429AW5</cusip>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <valUSD>1485116.76000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.66800000</annualizedRt>
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      <invstOrSec>
        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
        <title>Western Midstream Operating LP</title>
        <cusip>958667AE7</cusip>
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          <isin value="US958667AE72"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417217.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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        <securityLending>
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          <loanByFundCondition isLoanByFund="Y" loanVal="8494.80000000"/>
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      <invstOrSec>
        <name>Intuit, Inc.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc.</title>
        <cusip>46124HAC0</cusip>
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          <isin value="US46124HAC07"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189627.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="33204.59000000"/>
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      <invstOrSec>
        <name>Transcanada Trust</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>CIBC NY</name>
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        <name>Cboe Global Markets, Inc.</name>
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        <name>Woodside Finance Ltd.</name>
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        <name>RenaissanceRe Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>CBRE Services, Inc.</name>
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        <name>Mastercard, Inc.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Interpublic Group of Cos., Inc. (The)</name>
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        <name>Targa Resources Partners LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-03</maturityDt>
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          <annualizedRt>4.89900000</annualizedRt>
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        <name>Citigroup, Inc.</name>
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        <name>Textron, Inc.</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>MidAmerican Energy Co.</name>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
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        <name>Eastern Energy Gas Holdings LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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      <invstOrSec>
        <name>Evergy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Motorola Solutions, Inc.</name>
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        <name>GLP Capital LP</name>
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          <maturityDt>2030-01-15</maturityDt>
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      <invstOrSec>
        <name>Hess Corp.</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>Hess Corp.</title>
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          <maturityDt>2029-10-01</maturityDt>
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        <name>Edwards Lifesciences Corp.</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Financial Group, Inc.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
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        <valUSD>24576.28000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-27</maturityDt>
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          <annualizedRt>2.85000000</annualizedRt>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29278NAQ6</cusip>
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        <balance>100000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-15</maturityDt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-21</maturityDt>
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      <invstOrSec>
        <name>MidAmerican Energy Co.</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>PacifiCorp</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-09-15</maturityDt>
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          <annualizedRt>2.70000000</annualizedRt>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-20</maturityDt>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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        <balance>80000.00000000</balance>
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        <invCountry>CA</invCountry>
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        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
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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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          <maturityDt>2031-08-01</maturityDt>
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          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp.</title>
        <cusip>26884LBA6</cusip>
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        <balance>100000.00000000</balance>
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        <valUSD>109582.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jacobs Engineering Group, Inc.</name>
        <lei>549300CZ8QS1GE53O776</lei>
        <title>Jacobs Engineering Group, Inc.</title>
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          <maturityDt>2032-09-01</maturityDt>
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          <annualizedRt>3.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Aon Corp.</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
        <title>Aon Corp.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA</title>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>295707.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>25160PAQ0</cusip>
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          <isin value="US25160PAQ00"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>152498.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.37300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Aon North America, Inc.</name>
        <lei>N/A</lei>
        <title>Aon North America, Inc.</title>
        <cusip>03740MAC4</cusip>
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          <isin value="US03740MAC47"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>669589.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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          <isin value="US251526CV96"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101481.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.70600000</annualizedRt>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
        <cusip>517834AK3</cusip>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>359766.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Simon Property Group LP</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>Simon Property Group LP</title>
        <cusip>828807DW4</cusip>
        <identifiers>
          <isin value="US828807DW40"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54376.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Universal Health Services, Inc.</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>Universal Health Services, Inc.</title>
        <cusip>913903BA7</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>127053.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <name>Bank of New York Mellon Corp. (The)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp. (The)</title>
        <cusip>06406RCH8</cusip>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100194.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.44099960</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U3J0</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204259.84000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.19800000</annualizedRt>
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      <invstOrSec>
        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC</title>
        <cusip>00774MBM6</cusip>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>292585.39000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc.</title>
        <cusip>92345YAJ5</cusip>
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        <balance>350000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc.</title>
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          <annualizedRt>2.95000000</annualizedRt>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
        <cusip>00846UAK7</cusip>
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        <balance>150000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-22</maturityDt>
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          <annualizedRt>3.05000000</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <balance>200000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
        <cusip>571748BG6</cusip>
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        <valUSD>230341.00000000</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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Fairfax Financial Holdings Ltd.</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>Fairfax Financial Holdings Ltd.</title>
        <cusip>303901BL5</cusip>
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          <isin value="US303901BL51"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>485671.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <name>Black Hills Corp.</name>
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        <name>Cencora, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Verisk Analytics, Inc.</name>
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        <name>AvalonBay Communities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-01</maturityDt>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-17</maturityDt>
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        <name>Public Service Enterprise Group, Inc.</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
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        <name>Synchrony Financial</name>
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        <name>TD SYNNEX Corp.</name>
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        <name>Genuine Parts Co.</name>
        <lei>549300D46DQVEU651W04</lei>
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        <name>CenterPoint Energy, Inc.</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy, Inc., Series B</title>
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        <name>Keysight Technologies, Inc.</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies, Inc.</title>
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        <name>Athene Holding Ltd.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd.</title>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <balance>350000.00000000</balance>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KeyBank NA</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
        <title>KeyBank NA</title>
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        <name>Enbridge, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
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        <name>CME Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RPM International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-20</maturityDt>
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          <annualizedRt>2.51100000</annualizedRt>
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      <invstOrSec>
        <name>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>2.62500000</annualizedRt>
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        <name>Tyson Foods, Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-02</maturityDt>
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        <name>NNN REIT, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
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        <name>Visa, Inc.</name>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
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      <invstOrSec>
        <name>American Express Co.</name>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <invCountry>AU</invCountry>
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        <name>Sempra</name>
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        <title>Sempra</title>
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        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>Sherwin-Williams Co. (The)</title>
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        <invCountry>US</invCountry>
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        <debtSec>
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        <securityLending>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <balance>200000.00000000</balance>
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        <valUSD>225253.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2084-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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        <name>Kinder Morgan, Inc.</name>
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        <name>WP Carey, Inc.</name>
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        <name>Fifth Third Bancorp</name>
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        <name>CMS Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Brands, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Synchrony Financial</name>
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        <fairValLevel>2</fairValLevel>
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        <name>L3Harris Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PPG Industries, Inc.</name>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>Air Lease Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-01</maturityDt>
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        <name>Booz Allen Hamilton, Inc.</name>
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        <name>Global Payments, Inc.</name>
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        <name>Black Hills Corp.</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
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        <name>Broadcom, Inc.</name>
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        <name>Altria Group, Inc.</name>
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        <name>Kellanova</name>
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        <name>Apple, Inc.</name>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp.</title>
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        <invCountry>AU</invCountry>
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        <name>Trimble, Inc.</name>
        <lei>549300E2MI7NSZFQWS19</lei>
        <title>Trimble, Inc.</title>
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        <name>AutoZone, Inc.</name>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Woodside Finance Ltd.</name>
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        <name>Walmart, Inc.</name>
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        <name>Cheniere Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-15</maturityDt>
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      <invstOrSec>
        <name>Blue Owl Capital Corp.</name>
        <lei>2549000BD79OOCPF2L94</lei>
        <title>Blue Owl Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Roper Technologies, Inc.</name>
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        <name>Fidelity National Information Services, Inc.</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Blue Owl Capital Corp.</name>
        <lei>2549000BD79OOCPF2L94</lei>
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        <name>Nevada Power Co.</name>
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        <name>Avery Dennison Corp.</name>
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        <name>Essex Portfolio LP</name>
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        <name>Zoetis, Inc.</name>
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        <name>Lennar Corp.</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corp.</title>
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        <name>Philip Morris International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kimco Realty OP LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Roper Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-16</maturityDt>
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        <name>Fox Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FactSet Research Systems, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sabine Pass Liquefaction LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altria Group, Inc.</name>
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        <title>Altria Group, Inc.</title>
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        <name>CDW LLC</name>
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        <name>Bank of America Corp.</name>
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        <name>VICI Properties LP</name>
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        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
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        <name>Avery Dennison Corp.</name>
        <lei>549300PW7VPFCYKLIV37</lei>
        <title>Avery Dennison Corp.</title>
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        <name>Lennar Corp.</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corp.</title>
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        <name>Ares Capital Corp.</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>Ares Capital Corp.</title>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>Westpac Banking Corp.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <name>Caterpillar Financial Services Corp.</name>
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        <name>Chevron USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Appalachian Power Co.</name>
        <lei>3SCHO1ABYYIG382BEI70</lei>
        <title>Appalachian Power Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Essential Utilities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>National Bank of Canada</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
        <title>National Bank of Canada</title>
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          <isin value="US63307A3A17"/>
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        <balance>150000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-02</maturityDt>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
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        <title>Truist Financial Corp.</title>
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          <isin value="US89788NAA81"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-28</maturityDt>
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        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, 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>2027-12-15</maturityDt>
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      <invstOrSec>
        <name>Dover Corp.</name>
        <lei>549300FMC2ALGA7N9E80</lei>
        <title>Dover Corp.</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>2029-11-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <name>Energy Transfer LP</name>
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        <title>Energy Transfer LP</title>
        <cusip>29273VAU4</cusip>
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        <balance>205000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
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      <invstOrSec>
        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>Atmos Energy Corp.</title>
        <cusip>049560AZ8</cusip>
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          <isin value="US049560AZ81"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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        <name>GLP Capital LP</name>
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        <cusip>361841AQ2</cusip>
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          <isin value="US361841AQ25"/>
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        <curCd>USD</curCd>
        <valUSD>188473.17000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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          <annualizedRt>2.10000000</annualizedRt>
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        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares, Inc.</title>
        <cusip>446150BA1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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        <invCountry>US</invCountry>
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        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
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        <invCountry>AU</invCountry>
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        <name>Host Hotels &amp; Resorts LP</name>
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        <title>Host Hotels &amp; Resorts LP, Series H</title>
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        <name>Carlisle Cos., Inc.</name>
        <lei>XR64VGX1ZPX6G7ZN7Z11</lei>
        <title>Carlisle Cos., Inc.</title>
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        <name>S&amp;P Global, Inc.</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P Global, Inc.</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Dollar Tree, Inc.</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree, Inc.</title>
        <cusip>256746AH1</cusip>
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        <balance>200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>Costco Wholesale Corp.</name>
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        <name>Cheniere Energy Partners LP</name>
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        <name>Royal Bank of Canada</name>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <name>NATIONAL AUSTRALIA BANK NY</name>
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        <name>WEC Energy Group, Inc.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
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        <name>HSBC Holdings plc</name>
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        <name>Church &amp; Dwight Co., Inc.</name>
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        <name>Synovus Bank</name>
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        <name>Amrize Finance US LLC</name>
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        <name>Veralto Corp.</name>
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        <title>Veralto Corp.</title>
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        <name>Sysco Corp.</name>
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        <name>PPL Capital Funding, Inc.</name>
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        <name>Acuity Brands Lighting, Inc.</name>
        <lei>549300OTPVPFLUC38K21</lei>
        <title>Acuity Brands Lighting, Inc.</title>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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        <name>Johnson &amp; Johnson</name>
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        <name>Store Capital LLC</name>
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        <name>NVIDIA Corp.</name>
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        <name>Westpac Banking Corp.</name>
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        <name>Blackstone Private Credit Fund</name>
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        <name>Honeywell International, Inc.</name>
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        <name>Take-Two Interactive Software, Inc.</name>
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        <name>RenaissanceRe Holdings Ltd.</name>
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        <name>Banco Santander SA</name>
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        <name>Cencora, Inc.</name>
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        <name>Synchrony Financial</name>
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        <name>American Express Co.</name>
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        <name>Alleghany Corp.</name>
        <lei>549300DCJE6AYX159479</lei>
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        <name>Bank of America Corp.</name>
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        <name>HSBC Holdings plc</name>
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        <name>US Bancorp</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Quanta Services, Inc.</name>
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        <name>Blackstone Private Credit Fund</name>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>Sabra Health Care LP</name>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <name>Banco Santander SA</name>
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        <name>NMI Holdings, Inc.</name>
        <lei>529900KNNGFXJX1C3Z08</lei>
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        <name>Public Storage Operating Co.</name>
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        <name>National Fuel Gas Co.</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Oncor Electric Delivery Co. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <name>Essex Portfolio LP</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Amdocs Ltd.</name>
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        <name>Verisk Analytics, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Veralto Corp.</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Deutsche Telekom International Finance BV</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Oaktree Strategic Credit Fund</name>
        <lei>2549006RRE0JC7G43241</lei>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
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        <name>Coca-Cola Consolidated, Inc.</name>
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        <name>Apple, Inc.</name>
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        <name>Costco Wholesale Corp.</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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          <isin value="US06051GJS93"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>El Paso Natural Gas Co. LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Brown &amp; Brown, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-11</maturityDt>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Holding Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hyatt Hotels Corp.</name>
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        <title>Hyatt Hotels Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-30</maturityDt>
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        <name>BankUnited, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-11</maturityDt>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vontier Corp.</name>
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        <name>LKQ Corp.</name>
        <lei>DS830JTTZQN6GK0I2E41</lei>
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        <name>Berkshire Hathaway Finance Corp.</name>
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      <invstOrSec>
        <name>SiriusPoint Ltd.</name>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>VMware LLC</name>
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        <name>Bank of Nova Scotia (The)</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>Textron, Inc.</name>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COPT Defense Properties LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of Nova Scotia (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cooperatieve Rabobank UA</name>
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        <invCountry>NL</invCountry>
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        <name>Synchrony Financial</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Nevada Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PulteGroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
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        <name>Citigroup, Inc.</name>
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        <name>Leidos, Inc.</name>
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        <name>NiSource, Inc.</name>
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        <name>Ovintiv, Inc.</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>CF SECURED LLC</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <name>CI Financial Corp.</name>
        <lei>549300M9W7JJQSVCEM78</lei>
        <title>CI Financial Corp.</title>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Old Republic International Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State Street Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Natural Resources Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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        <name>Morgan Stanley</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-15</maturityDt>
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        <name>Blue Owl Capital Corp.</name>
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        <title>Blue Owl Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Bank Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arrow Electronics, Inc.</name>
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        <name>Clorox Co. (The)</name>
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        <name>Unilever Capital Corp.</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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      <invstOrSec>
        <name>Essent Group Ltd.</name>
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      <invstOrSec>
        <name>Blue Owl Credit Income Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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        <name>Intuit, Inc.</name>
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        <name>PepsiCo, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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        <name>Enterprise Products Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>US Bancorp</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-22</maturityDt>
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          <annualizedRt>4.96700000</annualizedRt>
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        <name>Omega Healthcare Investors, Inc.</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>Omega Healthcare Investors, Inc.</title>
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          <isin value="US681936BP48"/>
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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>2030-07-01</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>Autodesk, Inc.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <title>Marsh &amp; McLennan Cos., Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-11</maturityDt>
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        <name>Plains All American Pipeline LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <name>Roper Technologies, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Kinross Gold Corp.</name>
        <lei>254900O9KHF2A1ZXPT47</lei>
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        <name>LPL Holdings, Inc.</name>
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        <name>Teledyne Technologies, Inc.</name>
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        <invCountry>US</invCountry>
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        <name>Sabine Pass Liquefaction LLC</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
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        <balance>535000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>TotalEnergies Capital SA</name>
        <lei>529900QI55ZLJVCMPA71</lei>
        <title>TotalEnergies Capital SA</title>
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        <balance>150000.00000000</balance>
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        <name>Ferguson Enterprises, Inc.</name>
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        <name>AEP Texas, Inc.</name>
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        <name>Arch Capital Finance LLC</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Barclays plc</name>
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        <name>Kinder Morgan, Inc.</name>
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        <name>American Express Co.</name>
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        <name>Moody's Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>BNP PARIBAS, NY</name>
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        <name>Booking Holdings, Inc.</name>
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        <name>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
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        <securityLending>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
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          <isin value="US494553AD27"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>253227.08000000</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>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Nuveen Churchill Direct Lending Corp.</name>
        <lei>254900X3ULEP6XX7HG39</lei>
        <title>Nuveen Churchill Direct Lending Corp.</title>
        <cusip>67090SAA6</cusip>
        <identifiers>
          <isin value="US67090SAA69"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51336.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.65000000</annualizedRt>
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      <invstOrSec>
        <name>CGI, Inc.</name>
        <lei>549300WSRCZY73ZG3090</lei>
        <title>CGI, Inc.</title>
        <cusip>12532HAC8</cusip>
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          <isin value="US12532HAC88"/>
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        <balance>301000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>290796.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.45000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
        <cusip>532457CF3</cusip>
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          <isin value="US532457CF35"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>271288.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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        <securityLending>
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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>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>150532.48000000</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>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
        <cusip>04316JAN9</cusip>
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          <isin value="US04316JAN90"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>546782.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>17308CC53</cusip>
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          <isin value="US17308CC539"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>560238.42000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-05</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.97600000</annualizedRt>
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      <invstOrSec>
        <name>Kellanova</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>Kellanova, Series B</title>
        <cusip>487836AT5</cusip>
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          <isin value="US487836AT55"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>568926.06000000</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>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.45000000</annualizedRt>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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          <isin value="US06738ECH62"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>492912.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.11900000</annualizedRt>
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      <invstOrSec>
        <name>General Electric Co.</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
        <cusip>36962GXZ2</cusip>
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          <isin value="US36962GXZ26"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394568.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>Targa Resources Corp.</title>
        <cusip>87612GAE1</cusip>
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          <isin value="US87612GAE17"/>
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        <balance>165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>172735.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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      <invstOrSec>
        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
        <cusip>760759AS9</cusip>
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          <isin value="US760759AS91"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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        <name>Zoetis, Inc.</name>
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        <name>TD PRIME SERVICES LLC</name>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</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>2029-07-31</maturityDt>
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      <invstOrSec>
        <name>Apollo Debt Solutions BDC</name>
        <lei>549300UMUGX092P8DW87</lei>
        <title>Apollo Debt Solutions BDC</title>
        <cusip>03770DAD5</cusip>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>572734.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-29</maturityDt>
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        <name>AutoZone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TotalEnergies Capital SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sabra Health Care LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TD SYNNEX Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Agree LP</name>
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        <name>Aon North America, Inc.</name>
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        <name>Sands China Ltd.</name>
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        <invCountry>KY</invCountry>

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        <name>Morgan Stanley</name>
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        <name>Weyerhaeuser Co.</name>
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        <name>Chevron USA, Inc.</name>
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        <name>Hubbell, Inc.</name>
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        <name>Take-Two Interactive Software, Inc.</name>
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        <name>CDW LLC</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>Waste Connections, Inc.</name>
        <lei>549300HDLRTPBQU69P29</lei>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>Centene Corp.</name>
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        <name>Global Payments, Inc.</name>
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        <name>General Mills, Inc.</name>
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        <name>Blue Owl Technology Finance Corp.</name>
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        <name>McDonald's Corp.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Xylem, Inc.</name>
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        <name>Arch Capital Group Ltd.</name>
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        <name>AppLovin Corp.</name>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CenterPoint Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ITC Holdings Corp.</name>
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        <title>ITC Holdings Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-30</maturityDt>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-09</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>eBay, Inc.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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        <name>Lazard Group LLC</name>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-11</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <name>Store Capital LLC</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280EL9</cusip>
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        <balance>350000.00000000</balance>
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        <valUSD>355208.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-18</maturityDt>
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        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp.</title>
        <cusip>26884LBG3</cusip>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <name>First Horizon Bank</name>
        <lei>COOWI3L2W9TPYR3WJX37</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Aflac, Inc.</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>Aflac, Inc.</title>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>Unilever Capital Corp.</name>
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        <title>Unilever Capital Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-05</maturityDt>
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        <name>Agree LP</name>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <invCountry>AU</invCountry>
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        <name>HCA, Inc.</name>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
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        <balance>125000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
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      <invstOrSec>
        <name>Tennessee Gas Pipeline Co. LLC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
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        <balance>428000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>427971.48000000</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>2033-05-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.98900000</annualizedRt>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
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        <title>Netflix, Inc.</title>
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          <isin value="US64110LAX47"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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      <invstOrSec>
        <name>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc.</title>
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          <isin value="US98138HAJ05"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>563681.56000000</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>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U2A01"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491656.57000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.58400000</annualizedRt>
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      <invstOrSec>
        <name>Rayonier LP</name>
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        <title>Rayonier LP</title>
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          <isin value="US75508XAA46"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>221695.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Tanger Properties LP</name>
        <lei>PQPGJDNFN35EXH363L31</lei>
        <title>Tanger Properties LP</title>
        <cusip>875484AJ6</cusip>
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          <isin value="US875484AJ66"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>196253.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>Ameren Corp.</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>Ameren Corp.</title>
        <cusip>023608AR3</cusip>
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          <isin value="US023608AR31"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>251738.70000000</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>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816DF3</cusip>
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          <isin value="US025816DF35"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100774.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.04300000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAG7</cusip>
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          <isin value="US89788MAG78"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>348234.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.12300000</annualizedRt>
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        <name>Bank of Nova Scotia (The)</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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        <balance>150000.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.40400000</annualizedRt>
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        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners LP</title>
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        <balance>100000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.40000000</annualizedRt>
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        <name>CME Group, Inc.</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Valero Energy Corp.</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>Valero Energy Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Procter &amp; Gamble Co. (The)</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>Procter &amp; Gamble Co. (The)</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-25</maturityDt>
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          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>McKesson Corp.</name>
        <lei>549300WZWOM80UCFSF54</lei>
        <title>McKesson Corp.</title>
        <cusip>581557BT1</cusip>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
        <cusip>055451BD9</cusip>
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        <balance>480000.00000000</balance>
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        <valUSD>496043.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
        <cusip>871607AB3</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1007692.31000000</valUSD>
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        <name>Hormel Foods Corp.</name>
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        <name>Tractor Supply Co.</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Masco Corp.</name>
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      <invstOrSec>
        <name>Textron, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AptarGroup, Inc.</name>
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        <name>Truist Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>US Bancorp</name>
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        <name>Zions Bancorp NA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Martin Marietta Materials, Inc.</name>
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        <title>Martin Marietta Materials, Inc., Series CB</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Sempra</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Essential Utilities, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>American Tower Corp.</name>
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        <name>Truist Financial Corp.</name>
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        <name>Koninklijke KPN NV</name>
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        <title>Koninklijke KPN NV</title>
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        <name>Jefferies Financial Group, Inc.</name>
        <lei>549300HOF34RGOJ5YL07</lei>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <name>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>Adobe, Inc.</title>
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      <invstOrSec>
        <name>Amphenol Corp.</name>
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        <title>Amphenol Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lloyds Banking Group plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Xylem, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ameriprise Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>NXP BV</name>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>5.55000000</annualizedRt>
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        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
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          <isin value="US03073EAT29"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478223.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
        <cusip>29250NBW4</cusip>
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          <isin value="US29250NBW48"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>812275.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
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        <title>Johnson &amp; Johnson</title>
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          <isin value="US478160CU63"/>
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        <balance>20000.00000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>F&amp;G Annuities &amp; Life, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
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        <title>Las Vegas Sands Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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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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          <maturityDt>2028-03-07</maturityDt>
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        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
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        <balance>450000.00000000</balance>
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        <invCountry>AU</invCountry>
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          <maturityDt>2026-09-08</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>GLP Capital LP</name>
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        <invCountry>US</invCountry>
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        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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        <balance>400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sands China Ltd.</name>
        <lei>549300EVO6UZDGY05787</lei>
        <title>Sands China Ltd.</title>
        <cusip>80007RAS4</cusip>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44664.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Kemper Corp.</name>
        <lei>549300FNI1JKTRY2PV09</lei>
        <title>Kemper Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-23</maturityDt>
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      <invstOrSec>
        <name>eBay, Inc.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay, Inc.</title>
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          <isin value="US278642BB85"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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          <isin value="US95000U2V48"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.52600000</annualizedRt>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
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        <title>McDonald's Corp.</title>
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          <isin value="US58013MFJ80"/>
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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>2029-09-01</maturityDt>
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          <annualizedRt>2.62500000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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          <isin value="US404280EC98"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>279435.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.39900000</annualizedRt>
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      <invstOrSec>
        <name>State Street Corp.</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp.</title>
        <cusip>857477BU6</cusip>
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          <isin value="US857477BU67"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>146800.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.42100000</annualizedRt>
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        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2083-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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        <name>Ovintiv, Inc.</name>
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        <title>Ovintiv, Inc.</title>
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        <balance>150000.00000000</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>2031-11-01</maturityDt>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Bank Corp.</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-30</maturityDt>
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        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <name>Textron, Inc.</name>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <name>Mondelez International, Inc.</name>
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        <title>Mondelez International, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>Veralto Corp.</title>
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        <balance>850000.00000000</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>2026-09-18</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KeyCorp</name>
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        <name>Dominion Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Parker-Hannifin Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lowe's Cos., Inc.</name>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-19</maturityDt>
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        <name>Meta Platforms, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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        <name>Aon North America, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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          <annualizedRt>3.70000000</annualizedRt>
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        <name>US Bancorp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cisco Systems, Inc.</name>
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        <name>American Electric Power Co., Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
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        <name>American Express Co.</name>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <name>Sprint Capital Corp.</name>
        <lei>549300L17W0GQBR1PO80</lei>
        <title>Sprint Capital Corp.</title>
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        <balance>450000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65000000</annualizedRt>
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      <invstOrSec>
        <name>Ohio Power Co.</name>
        <lei>06ZODLC132CY1O2Y7D77</lei>
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          <isin value="US199575AT85"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>216006.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
        <cusip>80281LAG0</cusip>
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          <isin value="US80281LAG05"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>293733.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-03</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.82300000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
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          <isin value="US747525BP77"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41569.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hanover Insurance Group, Inc. (The)</name>
        <lei>JJYR6MFKFF6CF8DBZ078</lei>
        <title>Hanover Insurance Group, Inc. (The)</title>
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          <isin value="US410867AG05"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222157.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816DG1</cusip>
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          <isin value="US025816DG18"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50398.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.38900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>639057AK4</cusip>
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          <isin value="US639057AK45"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>570228.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.80800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc.</title>
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          <isin value="US57636QAP90"/>
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        <balance>1253000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Texas Eastern Transmission LP</name>
        <lei>549300SIOULUXXIDGA69</lei>
        <title>Texas Eastern Transmission LP</title>
        <cusip>882389CC1</cusip>
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          <isin value="US882389CC14"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110590.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Regions Financial Corp.</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>Regions Financial Corp.</title>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-06</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.72200000</annualizedRt>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC, Series E</title>
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          <isin value="US29379VBN29"/>
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        <balance>552000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>545865.57000000</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>2077-08-16</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <balance>1200000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.54700000</annualizedRt>
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      <invstOrSec>
        <name>PulteGroup, Inc.</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-01-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Vale Overseas Ltd.</name>
        <lei>254900BA3U6G5DNV5V04</lei>
        <title>Vale Overseas Ltd.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>RELX Capital, Inc.</name>
        <lei>2R15C3RTKJN1RCBOV146</lei>
        <title>RELX Capital, 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>2029-03-18</maturityDt>
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        <name>Leidos, Inc.</name>
        <lei>5493006I78VIN6J1BQ95</lei>
        <title>Leidos, Inc.</title>
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        <balance>300000.00000000</balance>
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        <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>5.40000000</annualizedRt>
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        <name>Interstate Power and Light Co.</name>
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      <invstOrSec>
        <name>Tractor Supply Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sands China Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Southern Co. Gas Capital Corp.</name>
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        <name>Invitation Homes Operating Partnership LP</name>
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        <name>WP Carey, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TD SYNNEX Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-12</maturityDt>
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        <name>Mizuho Financial Group, Inc.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Westpac Banking Corp.</name>
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        <invCountry>AU</invCountry>
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        <name>Kroger Co. (The)</name>
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        <name>Banco Santander SA</name>
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        <name>Bank of America Corp.</name>
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        <name>HSBC Holdings plc</name>
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        <name>Willis North America, Inc.</name>
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        <name>GLP Capital LP</name>
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        <name>Tyco Electronics Group SA</name>
        <lei>C33G1C5SYE2YM95EE712</lei>
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        <invCountry>LU</invCountry>

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        <name>Athene Holding Ltd.</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd.</title>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Home Depot, Inc. (The)</name>
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        <name>Cisco Systems, Inc.</name>
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        <name>Oshkosh Corp.</name>
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        <name>Tapestry, Inc.</name>
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        <name>Royal Bank of Canada</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>Kirby Corp.</name>
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        <name>TSMC Arizona Corp.</name>
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        <name>Novartis Capital Corp.</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>American Tower Corp.</name>
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        <name>International Business Machines Corp.</name>
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        <name>Sherwin-Williams Co. (The)</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
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        <name>CH Robinson Worldwide, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Capital One NA</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Aon Corp.</name>
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        <name>Brookfield Asset Management Ltd.</name>
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        <invCountry>CA</invCountry>
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        <name>Booz Allen Hamilton, Inc.</name>
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        <name>VICI Properties LP</name>
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        <name>Canadian National Railway Co.</name>
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        <name>Republic Services, Inc.</name>
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        <name>TSMC Arizona Corp.</name>
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        <name>Microchip Technology, Inc.</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>HCA, Inc.</name>
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        <name>LPL Holdings, Inc.</name>
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        <name>Apple, Inc.</name>
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        <title>Apple, Inc.</title>
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        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fidelity National Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
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        <name>PNC Financial Services Group, Inc. (The)</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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          <maturityDt>2030-03-15</maturityDt>
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          <annualizedRt>5.20000000</annualizedRt>
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        <name>Philip Morris International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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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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          <annualizedRt>2.20000000</annualizedRt>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-18</maturityDt>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2085-01-28</maturityDt>
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          <annualizedRt>6.95000000</annualizedRt>
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        <name>American Assets Trust LP</name>
        <lei>549300V1TI0SMG9Z6U69</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-01</maturityDt>
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          <annualizedRt>6.15000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.94700000</annualizedRt>
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        <name>Ingredion, Inc.</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>Ingredion, Inc.</title>
        <cusip>457187AB8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
        <cusip>80281LAT2</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-10</maturityDt>
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        <name>Cigna Group (The)</name>
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        <title>Cigna Group (The)</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2027-03-01</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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        <name>Royal Bank of Canada</name>
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        <invCountry>CA</invCountry>
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          <maturityDt>2027-01-19</maturityDt>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <title>Mitsubishi UFJ Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AEP Texas, Inc.</name>
        <lei>5493001L78U618KXNZ75</lei>
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        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
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        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ovintiv, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Roper Technologies, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Holdings USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Markel Group, Inc.</name>
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        <name>Hexcel Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Invitation Homes Operating Partnership LP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
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        <title>Sysco Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Air Lease Corp.</name>
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        <name>CMS Energy Corp.</name>
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        <name>Brookfield Finance, Inc.</name>
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        <name>PacifiCorp</name>
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        <name>Tyson Foods, Inc.</name>
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        <name>CDW LLC</name>
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        <name>NatWest Group plc</name>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <name>Jabil, Inc.</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>Jabil, Inc.</title>
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        <name>Westpac Banking Corp.</name>
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        <name>UBS AG</name>
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        <name>Targa Resources Corp.</name>
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        <name>First Citizens BancShares, Inc.</name>
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        <name>Huntington Bancshares, Inc.</name>
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        <name>Synchrony Financial</name>
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        <name>Interstate Power and Light Co.</name>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
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        <name>Rio Tinto Alcan, Inc.</name>
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        <name>Woodside Finance Ltd.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Clorox Co. (The)</name>
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        <name>NiSource, Inc.</name>
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        <name>Tencent Music Entertainment Group</name>
        <lei>213800XTZK2GOHQTYK41</lei>
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        <name>Bain Capital Specialty Finance, Inc.</name>
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        <name>Berkshire Hathaway Energy Co.</name>
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        <name>Banco Santander SA</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FactSet Research Systems, Inc.</name>
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        <title>FactSet Research Systems, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
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        <name>Host Hotels &amp; Resorts LP</name>
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        <cusip>44107TBA3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp.</title>
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          <isin value="US369550BM97"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
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        <name>American Homes 4 Rent LP</name>
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        <title>American Homes 4 Rent LP</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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        <name>T-Mobile USA, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Air Lease Corp.</name>
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        <name>TD PRIME SERVICES LLC</name>
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        <name>OCBC NEW YORK</name>
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        <name>Moody's Corp.</name>
        <lei>549300GCEDD8YCF5WU84</lei>
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        <name>Ingredion, Inc.</name>
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        <name>Apple, Inc.</name>
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        <name>Air Lease Corp.</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Air Lease Corp.</title>
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        <name>CF Industries, Inc.</name>
        <lei>5FVKT86LAD2F40NPC183</lei>
        <title>CF Industries, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>Bank of Montreal</title>
        <cusip>06368FAC3</cusip>
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        <balance>150000.00000000</balance>
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        <name>Assurant, Inc.</name>
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        <name>American Express Co.</name>
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        <name>Unilever Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Entergy Corp.</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toronto-Dominion Bank (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-10</maturityDt>
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        <name>Enterprise Products Operating LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-11</maturityDt>
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        <name>Alphabet, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Blackstone Secured Lending Fund</name>
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        <title>Blackstone Secured Lending Fund</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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        <name>AutoZone, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Flex Ltd.</name>
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        <title>Flex Ltd.</title>
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        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>CNA Financial Corp.</name>
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          <maturityDt>2033-06-15</maturityDt>
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        <name>Nordson Corp.</name>
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        <name>Mastercard, Inc.</name>
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        <name>Martin Marietta Materials, Inc.</name>
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        <title>Martin Marietta Materials, Inc.</title>
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        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>National Fuel Gas Co.</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co.</title>
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        <invCountry>US</invCountry>
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        <name>American National Group, Inc.</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>American National Group, Inc.</title>
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        <name>Ovintiv, Inc.</name>
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        <name>Cabot Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lowe's Cos., Inc.</name>
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        <name>Kinder Morgan Energy Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Moody's Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-05</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>KeyCorp</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
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        <name>Mondelez International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-17</maturityDt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
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        <title>Sysco Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
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          <annualizedRt>3.30000000</annualizedRt>
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        <name>HSBC Holdings plc</name>
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        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-13</maturityDt>
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        <name>Huntington Bancshares, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
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        <name>M&amp;T Bank Corp.</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp.</title>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>NXP BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>DH Europe Finance II Sarl</name>
        <lei>222100KDGL314CKTZ511</lei>
        <title>DH Europe Finance II Sarl</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Adobe, Inc.</name>
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        <name>CMS Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Howmet Aerospace, Inc.</name>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Blue Owl Credit Income Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ConocoPhillips Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC Holdings plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Mondelez International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-24</maturityDt>
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        <name>Westpac Banking Corp.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Western Union Co. (The)</name>
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        <name>Colgate-Palmolive Co.</name>
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        <name>HCA, Inc.</name>
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        <name>Stryker Corp.</name>
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        <title>Stryker Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>3M Co.</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
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        <name>Unilever Capital Corp.</name>
        <lei>MYF1DAS6G5WY7PRWCU78</lei>
        <title>Unilever Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MasTec, Inc.</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MasTec, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
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          <annualizedRt>5.90000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
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        <name>Allstate Corp. (The)</name>
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        <name>Mid-America Apartments LP</name>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
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        <name>Oaktree Strategic Credit Fund</name>
        <lei>2549006RRE0JC7G43241</lei>
        <title>Oaktree Strategic Credit Fund</title>
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          <isin value="US67403AAB52"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-14</maturityDt>
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        <name>Trane Technologies Global Holding Co. Ltd.</name>
        <lei>549300UCF0D858BIOV83</lei>
        <title>Trane Technologies Global Holding Co. Ltd.</title>
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          <isin value="US45687AAP75"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
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        <balance>75000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
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        <name>Mastercard, Inc.</name>
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          <maturityDt>2035-01-15</maturityDt>
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        <name>Lennox International, Inc.</name>
        <lei>S7DWAC87RDMPBF77GJ92</lei>
        <title>Lennox International, Inc.</title>
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          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>GLP Capital LP</name>
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        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc.</title>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <invCountry>CA</invCountry>
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        <name>Broadridge Financial Solutions, Inc.</name>
        <lei>549300KZDJZQ2YIHRC28</lei>
        <title>Broadridge Financial Solutions, Inc.</title>
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        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VMware LLC</name>
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        <name>Southern Co. (The)</name>
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        <name>Bank of America Corp.</name>
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        <name>Centene Corp.</name>
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        <name>Stryker Corp.</name>
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        <name>National Fuel Gas Co.</name>
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        <name>Simon Property Group LP</name>
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        <name>Expand Energy Corp.</name>
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        <name>Santander UK Group Holdings plc</name>
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        <name>Netflix, Inc.</name>
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        <name>Smith &amp; Nephew plc</name>
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        <name>Visa, Inc.</name>
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        <name>MidAmerican Energy Co.</name>
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        <name>McDonald's Corp.</name>
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          <maturityDt>2028-08-14</maturityDt>
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          <annualizedRt>4.80000000</annualizedRt>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
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          <annualizedRt>5.40000000</annualizedRt>
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        <name>O'Reilly Automotive, Inc.</name>
        <lei>549300K2RLMQL149Q332</lei>
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        <name>M&amp;T Bank Corp.</name>
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        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.29900000</annualizedRt>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <invCountry>GB</invCountry>
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        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
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        <name>NatWest Group plc</name>
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        <invCountry>GB</invCountry>
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        <name>Unilever Capital Corp.</name>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc.</title>
        <cusip>57636QBB9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
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          <annualizedRt>4.35000000</annualizedRt>
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        <name>Citigroup, Inc.</name>
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        <name>Marriott International, Inc.</name>
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        <name>Fox Corp.</name>
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        <name>Janus Henderson US Holdings, Inc.</name>
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        <name>Rio Tinto Finance USA plc</name>
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        <name>HSBC Holdings plc</name>
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        <name>Wells Fargo &amp; Co.</name>
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          <isin value="US95000U2G70"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
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          <isin value="US09261HAR84"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Darden Restaurants, Inc.</name>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>Plains All American Pipeline LP</name>
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        <name>Intuit, Inc.</name>
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        <name>US Bancorp</name>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <invCountry>AU</invCountry>
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        <name>Royalty Pharma plc</name>
        <lei>549300FGFN7VOK8BZR03</lei>
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        <invCountry>GB</invCountry>

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        <name>Southern Co. (The)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
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        <name>TJX Cos., Inc. (The)</name>
        <lei>V167QI9I69W364E2DY52</lei>
        <title>TJX Cos., Inc. (The)</title>
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        <name>VeriSign, Inc.</name>
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        <name>Cadence Design Systems, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Sabine Pass Liquefaction LLC</name>
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        <name>Bank of New York Mellon Corp. (The)</name>
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        <name>Keysight Technologies, Inc.</name>
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        <name>Church &amp; Dwight Co., Inc.</name>
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        <name>Cheniere Energy Partners LP</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>Trimble, Inc.</name>
        <lei>549300E2MI7NSZFQWS19</lei>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Citigroup, Inc.</name>
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        <name>Blackstone Reg Finance Co. LLC</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>Packaging Corp. of America</name>
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        <name>Boston Scientific Corp.</name>
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        <name>Commonwealth Bank of Australia</name>
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        <name>Weyerhaeuser Co.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Flowers Foods, Inc.</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
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        <name>HSBC Holdings plc</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>Oncor Electric Delivery Co. LLC</name>
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        <name>Kilroy Realty LP</name>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
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        <name>Fidelity National Information Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rio Tinto Finance USA plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-14</maturityDt>
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        <name>Bank of Nova Scotia (The)</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2081-10-27</maturityDt>
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        <name>Howmet Aerospace, Inc.</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
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          <annualizedRt>5.90000000</annualizedRt>
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        <name>Southern Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Holding Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CDW LLC</name>
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        <name>Enbridge, Inc.</name>
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        <title>Enbridge, Inc.</title>
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        <name>Steel Dynamics, Inc.</name>
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        <name>Enbridge, Inc.</name>
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        <title>Enbridge, Inc., Series 16-A</title>
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        <name>WW Grainger, Inc.</name>
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        <name>Visa, Inc.</name>
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        <title>Visa, Inc.</title>
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        <name>Selective Insurance Group, Inc.</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>Selective Insurance Group, Inc.</title>
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        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Constellation Brands, Inc.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands, Inc.</title>
        <cusip>21036PBK3</cusip>
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        <name>Realty Income Corp.</name>
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        <name>Cboe Global Markets, Inc.</name>
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        <name>ONEOK, Inc.</name>
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        <name>Western Midstream Operating LP</name>
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        <name>KeyCorp</name>
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        <name>HCA, Inc.</name>
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        <name>HSBC Holdings plc</name>
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        <name>Blue Owl Credit Income Corp.</name>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>Cardinal Health, Inc.</name>
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        <name>Juniper Networks, Inc.</name>
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        <name>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
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        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
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        <name>KeyBank NA</name>
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        <name>Cadence Design Systems, Inc.</name>
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        <name>Home Depot, Inc. (The)</name>
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          <maturityDt>2032-09-15</maturityDt>
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        <name>eBay, Inc.</name>
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        <name>Suncor Energy, Inc.</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>National Rural Utilities Cooperative Finance Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Brookfield Finance, Inc.</name>
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        <name>Synovus Financial Corp.</name>
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        <name>UBS AG</name>
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        <name>Smith &amp; Nephew plc</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>Air Lease Corp.</name>
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        <name>AutoZone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
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        <name>Athene Holding Ltd.</name>
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        <name>Santander UK Group Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Roper Technologies, Inc.</name>
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        <name>eBay, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.60000000</annualizedRt>
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        <name>Diamondback Energy, Inc.</name>
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        <name>Assurant, Inc.</name>
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        <name>Blue Owl Capital Corp.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Expand Energy Corp.</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
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        <name>ONEOK, Inc.</name>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Kellanova</name>
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        <name>Hyatt Hotels Corp.</name>
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        <name>Home Depot, Inc. (The)</name>
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        <name>MidAmerican Energy Co.</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
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        <name>Invitation Homes Operating Partnership LP</name>
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        <name>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <name>Westpac Banking Corp.</name>
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        <name>Reliance, Inc.</name>
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        <name>ConocoPhillips Co.</name>
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        <name>Western Midstream Operating LP</name>
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        <name>Enel Chile SA</name>
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        <invCountry>CL</invCountry>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Synopsys, Inc.</name>
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        <name>Kroger Co. (The)</name>
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        <name>Broadcom, Inc.</name>
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        <name>F&amp;G Annuities &amp; Life, Inc.</name>
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        <name>Apple, Inc.</name>
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        <name>LYB International Finance III LLC</name>
        <lei>984500A51LA0B8EB4053</lei>
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        <name>Philip Morris International, Inc.</name>
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        <name>Rockwell Automation, Inc.</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
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        <name>VMware LLC</name>
        <lei>549300BUDHS3LRWBE814</lei>
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        <name>Cheniere Energy Partners LP</name>
        <lei>5493005UEC8AZ34LDV29</lei>
        <title>Cheniere Energy Partners LP</title>
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        <invCountry>US</invCountry>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>Barclays plc</name>
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        <name>Bank of America Corp.</name>
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        <name>Moody's Corp.</name>
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        <name>Air Lease Corp.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Moody's Corp.</name>
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        <name>Aon North America, Inc.</name>
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        <name>TSMC Arizona Corp.</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Choice Hotels International, Inc.</name>
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        <name>L3Harris Technologies, Inc.</name>
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        <name>LKQ Corp.</name>
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        <name>Amphenol Corp.</name>
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        <name>McKesson Corp.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Truist Financial Corp.</name>
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        <name>American Homes 4 Rent LP</name>
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        <name>American Tower Corp.</name>
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        <name>Progressive Corp. (The)</name>
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        <name>Energy Transfer LP</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Hyatt Hotels Corp.</name>
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        <name>National Australia Bank Ltd.</name>
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        <name>Marriott International, Inc.</name>
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        <name>Bank of Montreal</name>
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        <name>CME Group, Inc.</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>Chevron USA, Inc.</name>
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        <name>HEICO Corp.</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Blackstone Secured Lending Fund</name>
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        <name>Lam Research Corp.</name>
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        <name>Sempra</name>
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        <name>RTX Corp.</name>
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        <name>Kentucky Utilities Co.</name>
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        <name>Church &amp; Dwight Co., Inc.</name>
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        <name>Electronic Arts, Inc.</name>
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        <name>Black Hills Corp.</name>
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        <name>Willis North America, Inc.</name>
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        <name>HSBC Holdings plc</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Webster Financial Corp.</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
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        <name>Citigroup, Inc.</name>
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        <name>Duke Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Colgate-Palmolive Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ACE Capital Trust II</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of Nova Scotia (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-14</maturityDt>
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        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BHP Billiton Finance USA Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Leidos, Inc.</name>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <name>Devon Energy Corp.</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>Devon Energy Corp.</title>
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        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
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        <invCountry>CA</invCountry>
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          <maturityDt>2030-11-15</maturityDt>
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      <invstOrSec>
        <name>Equifax, Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
        <cusip>294429AV7</cusip>
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        <name>Cooperatieve Rabobank UA</name>
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        <name>Lam Research Corp.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <name>Targa Resources Corp.</name>
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        <name>ArcelorMittal SA</name>
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        <name>CDW LLC</name>
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      <invstOrSec>
        <name>Canadian Natural Resources Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ameriprise Financial, Inc.</name>
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        <name>Netflix, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Applied Materials, Inc.</name>
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        <name>Corebridge Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CubeSmart LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RTX Corp.</name>
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        <name>TJX Cos., Inc. (The)</name>
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        <name>Sands China Ltd.</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>FNMA</name>
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        <name>AXIS Specialty Finance LLC</name>
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        <name>Citigroup, Inc.</name>
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        <name>Apollo Debt Solutions BDC</name>
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      <invstOrSec>
        <name>American Financial Group, Inc.</name>
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        <name>AutoZone, Inc.</name>
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        <name>Royal Bank of Canada</name>
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        <name>McDonald's Corp.</name>
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        <name>eBay, Inc.</name>
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        <name>AEP Texas, Inc.</name>
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        <name>Morgan Stanley Direct Lending Fund</name>
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        <name>Kimberly-Clark Corp.</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
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        <name>HCA, Inc.</name>
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        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
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        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <name>Fortis, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Apple, Inc.</name>
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        <name>Centene Corp.</name>
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        <name>AutoZone, Inc.</name>
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        <name>McDonald's Corp.</name>
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        <name>Bank of Montreal</name>
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        <invCountry>CA</invCountry>
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        <name>Agree LP</name>
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        <name>Atmos Energy Corp.</name>
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        <name>ING Groep NV</name>
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        <name>HEICO Corp.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Lear Corp.</name>
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        <title>Lear Corp.</title>
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        <name>Radian Group, Inc.</name>
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        <name>Suncor Energy, Inc.</name>
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        <name>Omnicom Group, Inc.</name>
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        <name>Motorola Solutions, Inc.</name>
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        <name>Progressive Corp. (The)</name>
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        <name>State Street Corp.</name>
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        <name>TransCanada PipeLines Ltd.</name>
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        <name>State Street Corp.</name>
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        <name>Main Street Capital Corp.</name>
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        <name>American Express Co.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp. (The)</name>
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        <curCd>USD</curCd>
        <valUSD>48489.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-13</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US68389XBM65"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>540120.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>244459.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Tapestry, Inc.</name>
        <lei>549300LJNVY5SW3VTN33</lei>
        <title>Tapestry, Inc.</title>
        <cusip>189754AC8</cusip>
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        <balance>8000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7940.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>AngloGold Ashanti Holdings plc</name>
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        <title>AngloGold Ashanti Holdings plc</title>
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        <curCd>USD</curCd>
        <valUSD>281916.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA</title>
        <cusip>05946KAN1</cusip>
        <identifiers>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>570905.05000000</valUSD>
        <pctVal>0.103806546266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.88300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="573406.62000000"/>
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      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738ECE3</cusip>
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          <isin value="US06738ECE32"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>340938.89000000</valUSD>
        <pctVal>0.061992250128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.43700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <loanByFundCondition isLoanByFund="Y" loanVal="227932.54000000"/>
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      <invstOrSec>
        <name>EOG Resources, Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG Resources, Inc.</title>
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        <identifiers>
          <isin value="US26875PAU57"/>
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        <balance>602000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>599401.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Invitation Homes Operating Partnership LP</name>
        <lei>549300147YMUQB3GW319</lei>
        <title>Invitation Homes Operating Partnership LP</title>
        <cusip>46188BAE2</cusip>
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          <isin value="US46188BAE20"/>
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        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154374.57000000</valUSD>
        <pctVal>0.028069625488</pctVal>
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        <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>5.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Vulcan Materials Co.</name>
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        <title>Vulcan Materials Co.</title>
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          <isin value="US929160AZ21"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International, Inc.</title>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49148.93000000</valUSD>
        <pctVal>0.008936653609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="45010.15000000"/>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-09-02</ncom:dateSigned>
      <ncom:nameOfApplicant>FlexShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Randal Rein</ncom:signature>
      <ncom:signerName>Randal Rein</ncom:signerName>
      <ncom:title>Treasurer and PFO</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
