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        <name>AbbVie, Inc.</name>
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        <name>Accenture Capital, Inc.</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Advanced Micro Devices, Inc.</name>
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        <name>Agilent Technologies, Inc.</name>
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        <name>Sumisho Air Lease Corp.</name>
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        <name>Sumisho Air Lease Corp.</name>
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          <maturityDt>2026-08-15</maturityDt>
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        <name>Allstate Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alphabet, Inc.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <name>American Credit Acceptance Receivables Trust</name>
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        <title>American Credit Acceptance Receivables Trust, Series 2025-3, Class B</title>
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        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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        <name>American Express Co.</name>
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        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp.</title>
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        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
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        <name>American Honda Finance Corp.</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
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        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <name>Americredit Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Americredit Automobile Receivables Trust, Series 2022-1, Class D</title>
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        <name>Cencora, Inc.</name>
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        <name>Amphenol Corp.</name>
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        <name>Bank of Montreal</name>
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        <name>Bank of New Zealand</name>
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        <name>Barclays plc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BINOM Mortgage Loan Trust</name>
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        <name>Blackstone Private Credit Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BlackRock Funding, Inc.</name>
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        <name>Boston Properties LP</name>
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        <name>Bravo Residential Funding Trust</name>
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        <name>Broadridge Financial Solutions, Inc.</name>
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        <name>CNH Industrial Capital LLC</name>
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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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        <name>Capital One Multi-Asset Execution Trust</name>
        <lei>R42WS16M9R97TJJKGU15</lei>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CarMax Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>CarMax Auto Owner Trust, Series 2023-1, Class D</title>
        <cusip>14318DAG4</cusip>
        <identifiers>
          <isin value="US14318DAG43"/>
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        <balance>2600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2636872.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.27000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>Carvana Auto Receivables Trust, Series 2025-P2, Class A2</title>
        <cusip>14688YAB1</cusip>
        <identifiers>
          <isin value="US14688YAB11"/>
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        <balance>2232953.87000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2235295.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.56000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chase Issuance Trust</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>Chase Issuance Trust, Series 2023-A1, Class A</title>
        <cusip>161571HT4</cusip>
        <identifiers>
          <isin value="US161571HT41"/>
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        <balance>1900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1908513.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.16000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chase Home Lending Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Chase Home Lending Mortgage Trust, Series 2024-2, Class A4A</title>
        <cusip>161929BH6</cusip>
        <identifiers>
          <isin value="US161929BH65"/>
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        <balance>1238041.69500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1241985.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000120</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chevron Phillips Chemical Co. LLC</name>
        <lei>N/A</lei>
        <title>Chevron Phillips Chemical Co. LLC</title>
        <cusip>166754AP6</cusip>
        <identifiers>
          <isin value="US166754AP65"/>
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        <balance>9000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8950358.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chevron USA, Inc.</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>Chevron USA, Inc.</title>
        <cusip>166756BM7</cusip>
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          <isin value="US166756BM73"/>
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        <balance>17200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17248332.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.23819720</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citadel Finance LLC</name>
        <lei>549300BQL283NCR7P163</lei>
        <title>Citadel Finance LLC</title>
        <cusip>17287HAE0</cusip>
        <identifiers>
          <isin value="US17287HAE09"/>
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        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2461031.10000000</valUSD>
        <pctVal>0.175244924104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-14</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>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967MZ1</cusip>
        <identifiers>
          <isin value="US172967MZ11"/>
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        <balance>3500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3501249.50000000</valUSD>
        <pctVal>0.249316720499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.45309920</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Citibank NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>Citibank NA</title>
        <cusip>17325FBD9</cusip>
        <identifiers>
          <isin value="US17325FBD96"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3011589.27000000</valUSD>
        <pctVal>0.214449030349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.72106880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citibank NA</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>Citibank NA</title>
        <cusip>17325FBJ6</cusip>
        <identifiers>
          <isin value="US17325FBJ66"/>
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        <balance>4000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4006098.72000000</valUSD>
        <pctVal>0.285265987147</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.92900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>17327CAX1</cusip>
        <identifiers>
          <isin value="US17327CAX11"/>
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        <balance>10286000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10296945.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.52062800</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Citizens Financial Group, Inc.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group, Inc.</title>
        <cusip>174610AR6</cusip>
        <identifiers>
          <isin value="US174610AR61"/>
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        <balance>6500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6476632.31000000</valUSD>
        <pctVal>0.461187563870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Commonwealth Bank of Australia</name>
        <lei>MSFSBD3QN1GSN7Q6C537</lei>
        <title>Commonwealth Bank of Australia</title>
        <cusip>20271RAV2</cusip>
        <identifiers>
          <isin value="US20271RAV24"/>
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        <balance>3200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3216333.76000000</valUSD>
        <pctVal>0.229028461146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.42300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Consolidated Edison Co. of New York, Inc.</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>Consolidated Edison Co. of New York, Inc.</title>
        <cusip>209111GL1</cusip>
        <identifiers>
          <isin value="US209111GL10"/>
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        <balance>5200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5195288.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.20650640</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Constellation Energy Generation LLC</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
        <title>Constellation Energy Generation LLC</title>
        <cusip>210385AN0</cusip>
        <identifiers>
          <isin value="US210385AN03"/>
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        <balance>4400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4395234.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.24810080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22534PAJ2</cusip>
        <identifiers>
          <isin value="US22534PAJ21"/>
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        <balance>6670000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6697511.68000000</valUSD>
        <pctVal>0.476915926032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-11</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.52844000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Credit Agricole SA</name>
        <lei>969500TJ5KRTCJQWXH05</lei>
        <title>Credit Agricole SA</title>
        <cusip>22535WAL1</cusip>
        <identifiers>
          <isin value="US22535WAL19"/>
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        <balance>5210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5212452.92000000</valUSD>
        <pctVal>0.371167969540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.63100000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co.</title>
        <cusip>233331AY3</cusip>
        <identifiers>
          <isin value="US233331AY31"/>
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        <balance>3100000.00000000</balance>
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        <name>Daimler Truck Finance North America LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>John Deere Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>John Deere Capital Corp.</name>
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        <title>John Deere Capital Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dell International LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Diamondback Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Walt Disney Co. (The)</name>
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        <name>Eaton Corp.</name>
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        <name>eBay, Inc.</name>
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        <name>Element Fleet Management Corp.</name>
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        <name>Evergreen Credit Card Trust</name>
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        <name>Evergreen Credit Card Trust</name>
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        <name>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
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        <name>Exeter Automobile Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FRESB 2022-SB94 Mortgage Trust</name>
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        <cusip>30324QAC2</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fifth Third Bank NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fiserv, Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
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          <isin value="US337738AT51"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
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      <invstOrSec>
        <name>GATX Corp.</name>
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        <title>GATX Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <name>GE HealthCare Technologies, Inc.</name>
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        <title>GE HealthCare Technologies, Inc.</title>
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          <isin value="US36266GAD97"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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      <invstOrSec>
        <name>GM Financial Automobile Leasing Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-22</maturityDt>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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          <isin value="US37045XES18"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-07</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Georgia Power Co.</name>
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        <title>Georgia Power Co.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>GlaxoSmithKline Capital plc</name>
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        <title>GlaxoSmithKline Capital plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-12</maturityDt>
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        <name>Glencore Funding LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GM Financial Consumer Automobile Receivables Trust</name>
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        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <name>HCA, Inc.</name>
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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>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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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hewlett Packard Enterprise Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Honda Auto Receivables Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Huntington National Bank (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hyundai Capital America</name>
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        <name>Hyundai Capital America</name>
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        <name>Hyundai Capital America</name>
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      <invstOrSec>
        <name>Hyundai Auto Receivables Trust</name>
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      <invstOrSec>
        <name>Hyundai Auto Receivables Trust</name>
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        <name>International Business Machines Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Intuit, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Mortgage Trust</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>John Deere Owner Trust</name>
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        <name>JPMorgan Chase Bank NA</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
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        <name>Keurig Dr Pepper, Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Keurig Dr Pepper, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kraft Heinz Foods Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kubota Credit Owner Trust</name>
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          <maturityDt>2027-12-15</maturityDt>
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        <name>LPL Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lseg US Fin Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>L3Harris Technologies, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Lennar Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Eli Lilly &amp; Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Group Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Macquarie Bank Ltd.</name>
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        <name>Macquarie Bank Ltd.</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Mastercard, Inc.</name>
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        <name>Mercedes-Benz Auto Receivables Trust</name>
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        <name>Mercedes-Benz Finance North America LLC</name>
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        <name>Merck &amp; Co., Inc.</name>
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      <invstOrSec>
        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley Bank NA</name>
        <lei>G1MLHIS0N32I3QPILB75</lei>
        <title>Morgan Stanley Bank NA</title>
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        <valUSD>8753957.78000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-26</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61747YFN0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.65589440</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Private Bank NA</name>
        <lei>549300GS0W0TEUQS8571</lei>
        <title>Morgan Stanley Private Bank NA</title>
        <cusip>61776NU35</cusip>
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          <isin value="US61776NU358"/>
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        <balance>9300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9249628.50000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-08</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.43175840</annualizedRt>
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      <invstOrSec>
        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
        <title>Medline Borrower LP</title>
        <cusip>62482BAA0</cusip>
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          <isin value="US62482BAA08"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3497624.64000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>NXP BV</name>
        <lei>N/A</lei>
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        <cusip>62954HBF4</cusip>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1695239.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NTT Finance Corp.</name>
        <lei>3538007PR116187GD960</lei>
        <title>NTT Finance Corp.</title>
        <cusip>62954WAR6</cusip>
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          <isin value="US62954WAR60"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8055678.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.73515920</annualizedRt>
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      <invstOrSec>
        <name>National Australia Bank Ltd.</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>National Australia Bank Ltd.</title>
        <cusip>632525CG4</cusip>
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          <isin value="US632525CG48"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3004140.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.16028600</annualizedRt>
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      <invstOrSec>
        <name>National Australia Bank Ltd.</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>National Australia Bank Ltd.</title>
        <cusip>632525CN9</cusip>
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          <isin value="US632525CN98"/>
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        <balance>9700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9706838.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-13</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.18773600</annualizedRt>
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        <name>National Bank of Canada</name>
        <lei>BSGEFEIOM18Y80CKCV46</lei>
        <title>National Bank of Canada</title>
        <cusip>63307A2Z7</cusip>
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        <balance>6260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6266185.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.68032400</annualizedRt>
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        <name>NatWest Markets plc</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
        <title>NatWest Markets plc</title>
        <cusip>63906YAK4</cusip>
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        <balance>10250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10297627.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.58676720</annualizedRt>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
        <title>Navient Private Education Refi Loan Trust, Series 2020-IA, Class A1A</title>
        <cusip>63942AAA4</cusip>
        <identifiers>
          <isin value="US63942AAA43"/>
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        <balance>633410.99450000</balance>
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        <curCd>USD</curCd>
        <valUSD>581246.62000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.33000000</annualizedRt>
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        <name>New Jersey Transportation Trust Fund Authority</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority, Series 2024BB</title>
        <cusip>64613CEZ7</cusip>
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        <balance>2875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2876925.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60800000</annualizedRt>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KDH0</cusip>
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        <balance>6700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6726694.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-04</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.47158160</annualizedRt>
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        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank Abp</title>
        <cusip>65558RAM1</cusip>
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        <balance>7700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7729098.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-17</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.37632920</annualizedRt>
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        <name>Novartis Capital Corp.</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>Novartis Capital Corp.</title>
        <cusip>66989HBG2</cusip>
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          <isin value="US66989HBG20"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4992637.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Nutrien Ltd.</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>Nutrien Ltd.</title>
        <cusip>67077MBE7</cusip>
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          <isin value="US67077MBE75"/>
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        <balance>3300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3309429.32000000</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>2027-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OBX Trust</name>
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      <invstOrSec>
        <name>OBX Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
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        <balance>3000000.00000000</balance>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>PK ALIFT Loan Funding 7 LP</name>
        <lei>N/A</lei>
        <title>PK ALIFT Loan Funding 7 LP, Series 2025-2, Class A</title>
        <cusip>69291NAA0</cusip>
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          <isin value="US69291NAA00"/>
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        <balance>4291069.38000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4244502.27000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
        <cusip>693475CH6</cusip>
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          <isin value="US693475CH64"/>
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        <balance>8500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8493591.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.28111280</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC Bank NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
        <title>PNC Bank NA</title>
        <cusip>69353RFY9</cusip>
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          <isin value="US69353RFY99"/>
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        <balance>7500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7500724.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.54300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC Bank NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
        <title>PNC Bank NA</title>
        <cusip>69353RGA0</cusip>
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          <isin value="US69353RGA05"/>
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        <balance>7750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7755890.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.39333560</annualizedRt>
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      <invstOrSec>
        <name>Pagaya Ai Debt Grantor Trust</name>
        <lei>N/A</lei>
        <title>Pagaya Ai Debt Grantor Trust, Series 2025-6, Class A2</title>
        <cusip>69549BAB4</cusip>
        <identifiers>
          <isin value="US69549BAB45"/>
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        <balance>1099898.63000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1097018.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.49700000</annualizedRt>
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      <invstOrSec>
        <name>Pagaya Ai Debt Grantor Trust</name>
        <lei>N/A</lei>
        <title>Pagaya Ai Debt Grantor Trust, Series 2025-6, Class B</title>
        <cusip>69549BAC2</cusip>
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          <isin value="US69549BAC28"/>
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        <balance>3199705.09000000</balance>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.88300000</annualizedRt>
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      <invstOrSec>
        <name>Pagaya Ai Debt Grantor Trust</name>
        <lei>N/A</lei>
        <title>Pagaya Ai Debt Grantor Trust, Series 2025-6, Class C</title>
        <cusip>69549BAD0</cusip>
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          <isin value="US69549BAD01"/>
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        <balance>1099898.63000000</balance>
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        <valUSD>1094781.02000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00800000</annualizedRt>
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      <invstOrSec>
        <name>PayPal Holdings, Inc.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings, Inc.</title>
        <cusip>70450YAR4</cusip>
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          <isin value="US70450YAR45"/>
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        <balance>4700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4707768.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-06</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Pepsico Singapore Financing I Pte. Ltd.</name>
        <lei>254900DOMTCMUFROFJ76</lei>
        <title>Pepsico Singapore Financing I Pte. Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-16</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Pfizer, Inc.</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer, Inc.</title>
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          <maturityDt>2027-11-15</maturityDt>
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      <invstOrSec>
        <name>Provident Funding Mortgage Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>PRPM Trust</name>
        <lei>N/A</lei>
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        <cusip>74391EAC5</cusip>
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          <isin value="US74391EAC57"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-11-25</maturityDt>
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      <invstOrSec>
        <name>Public Storage Operating Co.</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage Operating Co.</title>
        <cusip>74464AAA9</cusip>
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        <balance>4180000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-16</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.34519280</annualizedRt>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
        <lei>N/A</lei>
        <title>Research-Driven Pagaya Motor Asset Trust, Series 2026-2A, Class B</title>
        <cusip>76091HAE2</cusip>
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          <isin value="US76091HAE27"/>
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        <balance>4100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Research-Driven Pagaya Motor Asset Trust</name>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rio Tinto Finance USA plc</name>
        <lei>2138006TSNBEUA761G16</lei>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-14</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
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          <isin value="US780153AG79"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>78016EYD3</cusip>
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          <isin value="US78016EYD39"/>
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        <balance>7200000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-02</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.28226840</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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          <isin value="US78017DAB47"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5010984.90000000</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>2029-01-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.47221520</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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          <isin value="US78017DAE85"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5001931.55000000</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>2026-08-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.15210320</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ryder System, Inc.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>Ryder System, Inc.</title>
        <cusip>78355HKS7</cusip>
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          <isin value="US78355HKS75"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3570430.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
        <cusip>79466LAQ7</cusip>
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          <isin value="US79466LAQ77"/>
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        <balance>9200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9208638.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA</title>
        <cusip>801060AF1</cusip>
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          <isin value="US801060AF19"/>
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        <balance>12500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12535066.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.15210320</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA</title>
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          <isin value="US801060AH74"/>
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        <balance>16700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16735303.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-03</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.23210240</annualizedRt>
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      <invstOrSec>
        <name>Santander UK Group Holdings plc</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>Santander UK Group Holdings plc</title>
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        <balance>3200000.00000000</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>
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          <maturityDt>2029-09-22</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-31</maturityDt>
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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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          <annualizedRt>5.26511880</annualizedRt>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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          <annualizedRt>4.71000000</annualizedRt>
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        <name>Santander Drive Auto Receivables Trust</name>
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        <balance>5200000.00000000</balance>
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      <invstOrSec>
        <name>Santander Drive Auto Receivables Trust</name>
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        <title>Santander Drive Auto Receivables Trust, Series 2024-4, Class D</title>
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        <balance>4920000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Mortgage Asset Receivable Trust</name>
        <lei>2549005ZY4JF8SF73087</lei>
        <title>Santander Mortgage Asset Receivable Trust, Series 2026-NQM3, Class A1FC</title>
        <cusip>802929AA7</cusip>
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          <isin value="US802929AA70"/>
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        <balance>2686908.04000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2683775.37000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Schlumberger Holdings Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale SA</name>
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        <name>State Street Bank &amp; Trust Co.</name>
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        <name>State Street Corp.</name>
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        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Sumitomo Mitsui Trust Bank Ltd.</name>
        <lei>5493006GGLR4BTEL8O61</lei>
        <title>Sumitomo Mitsui Trust Bank Ltd.</title>
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          <isin value="US86563VCH06"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-05</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
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          <isin value="US870195AD63"/>
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        <balance>2800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2829738.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-20</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
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          <isin value="US87020PAV94"/>
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        <balance>5500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5508765.35000000</valUSD>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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          <annualizedRt>5.47200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
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          <isin value="US871607AA58"/>
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        <balance>7800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7829288.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
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          <isin value="US871829BC08"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2994472.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
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          <isin value="US871829BF39"/>
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        <balance>5370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5291481.69000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>89114TZH8</cusip>
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          <isin value="US89114TZH84"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2001954.00000000</valUSD>
        <pctVal>0.142554995258</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-10</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>89115A3A8</cusip>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5015240.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.56800000</annualizedRt>
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      <invstOrSec>
        <name>Toyota Auto Receivables Owner Trust</name>
        <lei>N/A</lei>
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        <cusip>89231FAD2</cusip>
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          <isin value="US89231FAD24"/>
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        <balance>2108313.19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2117359.96000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.16000000</annualizedRt>
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      <invstOrSec>
        <name>Toyota Motor Credit Corp.</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp.</title>
        <cusip>89236TMZ5</cusip>
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          <isin value="US89236TMZ56"/>
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        <balance>14000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14013644.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-08</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Toyota Motor Credit Corp.</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp., Series B</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-12</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Trillium Credit Card Trust II</name>
        <lei>549300P7QN1SDIOQVL28</lei>
        <title>Trillium Credit Card Trust II, Series 2025-1A, Class B</title>
        <cusip>89621ACD9</cusip>
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          <isin value="US89621ACD90"/>
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        <balance>2300000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-26</maturityDt>
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        <name>Trillium Credit Card Trust II</name>
        <lei>549300P7QN1SDIOQVL28</lei>
        <title>Trillium Credit Card Trust II, Series 2026-1A, Class A</title>
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          <isin value="US89621ACF49"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Trillium Credit Card Trust II</name>
        <lei>549300P7QN1SDIOQVL28</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-26</maturityDt>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>89788JAG4</cusip>
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          <isin value="US89788JAG40"/>
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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>2028-07-24</maturityDt>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>89788JAH2</cusip>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4956609.90000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.13600000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>89788JAK5</cusip>
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          <isin value="US89788JAK51"/>
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        <balance>18000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17991360.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-27</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.32111240</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS AG</name>
        <lei>254900R882POXXVAK772</lei>
        <title>UBS AG</title>
        <cusip>90261AAG7</cusip>
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        <name>United States of America</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Verizon Communications, Inc.</name>
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        <name>Verizon Master Trust</name>
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        <name>Verizon Master Trust</name>
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        <name>VMware LLC</name>
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        <name>Walmart, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Wells Fargo &amp; Co.</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>Westpac Banking Corp.</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
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        <invCountry>AU</invCountry>
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        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.47068880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zimmer Biomet Holdings, Inc.</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>Zimmer Biomet Holdings, Inc.</title>
        <cusip>98956PBA9</cusip>
        <identifiers>
          <isin value="US98956PBA93"/>
        </identifiers>
        <balance>3906000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3921710.52000000</valUSD>
        <pctVal>0.279256878321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-01</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>
</edgarSubmission>
